Grandfield & Dodd LLC Decreases Stock Position in Stryker Co. (NYSE:SYK)

Grandfield & Dodd LLC decreased its position in shares of Stryker Co. (NYSE:SYK) by 0.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 99,092 shares of the medical technology company’s stock after selling 202 shares during the period. Stryker comprises approximately 2.1% of Grandfield & Dodd LLC’s holdings, making the stock its 15th biggest holding. Grandfield & Dodd LLC’s holdings in Stryker were worth $35,798,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Centennial Bank AR lifted its stake in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 48 shares in the last quarter. HBW Advisory Services LLC purchased a new stake in Stryker during the 3rd quarter worth approximately $42,000. Hara Capital LLC acquired a new position in shares of Stryker in the 3rd quarter valued at approximately $42,000. Grove Bank & Trust boosted its stake in shares of Stryker by 84.8% during the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after buying an additional 56 shares during the last quarter. Finally, DT Investment Partners LLC grew its position in shares of Stryker by 114.3% during the third quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock worth $49,000 after buying an additional 72 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Trading Down 0.2 %

Shares of SYK stock opened at $388.66 on Wednesday. Stryker Co. has a 12 month low of $285.79 and a 12 month high of $398.20. The company has a market cap of $148.16 billion, a PE ratio of 41.66, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The business’s 50 day moving average is $365.08 and its two-hundred day moving average is $348.40.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same period last year, the business posted $2.46 EPS. Stryker’s revenue was up 11.9% compared to the same quarter last year. Equities analysts predict that Stryker Co. will post 12.06 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Canaccord Genuity Group increased their price objective on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Evercore ISI boosted their price objective on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Wolfe Research started coverage on Stryker in a research note on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective on the stock. Finally, Stifel Nicolaus decreased their target price on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

Insiders Place Their Bets

In related news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. This trade represents a 6.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the sale, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. This trade represents a 17.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,381 shares of company stock worth $24,825,275 in the last ninety days. Insiders own 5.50% of the company’s stock.

Stryker Company Profile

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.