Associated Banc Corp Sells 1,228 Shares of Stryker Co. (NYSE:SYK)

Associated Banc Corp trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 5.6% during the third quarter, HoldingsChannel reports. The fund owned 20,604 shares of the medical technology company’s stock after selling 1,228 shares during the quarter. Associated Banc Corp’s holdings in Stryker were worth $7,443,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SYK. Centennial Bank AR increased its holdings in Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC bought a new stake in shares of Stryker in the 3rd quarter valued at about $36,000. HBW Advisory Services LLC acquired a new stake in shares of Stryker in the third quarter valued at about $42,000. Hara Capital LLC bought a new position in shares of Stryker during the third quarter worth about $42,000. Finally, Grove Bank & Trust lifted its stake in shares of Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after acquiring an additional 56 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SYK has been the subject of a number of recent analyst reports. Needham & Company LLC increased their target price on shares of Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Evercore ISI lifted their target price on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. UBS Group upped their price target on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Robert W. Baird upped their target price on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $393.65.

Stryker Stock Down 0.1 %

NYSE SYK traded down $0.30 during trading hours on Monday, hitting $384.55. The company’s stock had a trading volume of 27,275 shares, compared to its average volume of 1,263,657. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The company’s 50-day simple moving average is $366.20 and its two-hundred day simple moving average is $349.63. The company has a market capitalization of $146.60 billion, a PE ratio of 41.25, a price-to-earnings-growth ratio of 2.90 and a beta of 0.91. Stryker Co. has a 52 week low of $285.79 and a 52 week high of $398.20.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.10. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. Stryker’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.46 earnings per share. Research analysts anticipate that Stryker Co. will post 12.06 EPS for the current fiscal year.

Insider Transactions at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,685,213.16. The trade was a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,381 shares of company stock worth $24,825,275 in the last quarter. 5.50% of the stock is currently owned by corporate insiders.

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.