Rock Point Advisors LLC Lowers Stock Holdings in Stryker Co. (NYSE:SYK)

Rock Point Advisors LLC lessened its holdings in shares of Stryker Co. (NYSE:SYK) by 1.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,054 shares of the medical technology company’s stock after selling 200 shares during the quarter. Stryker makes up about 1.4% of Rock Point Advisors LLC’s investment portfolio, making the stock its 29th biggest position. Rock Point Advisors LLC’s holdings in Stryker were worth $5,077,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SYK. Wealth Enhancement Advisory Services LLC grew its holdings in Stryker by 78.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock valued at $45,260,000 after buying an additional 58,673 shares during the period. OFI Invest Asset Management grew its holdings in Stryker by 3,210.9% in the second quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company’s stock valued at $1,062,000 after purchasing an additional 3,243 shares during the period. Tidal Investments LLC increased its position in Stryker by 14.2% during the first quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company’s stock worth $4,853,000 after purchasing an additional 1,681 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Stryker by 2.7% during the second quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company’s stock worth $210,289,000 after purchasing an additional 16,504 shares during the period. Finally, Sivik Global Healthcare LLC boosted its holdings in shares of Stryker by 8.0% in the 3rd quarter. Sivik Global Healthcare LLC now owns 27,000 shares of the medical technology company’s stock valued at $9,754,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of SYK traded up $2.11 during midday trading on Tuesday, hitting $387.02. 62,545 shares of the stock traded hands, compared to its average volume of 1,267,377. The business’s 50 day moving average price is $366.45 and its two-hundred day moving average price is $350.00. The firm has a market capitalization of $147.54 billion, a PE ratio of 41.23, a price-to-earnings-growth ratio of 2.90 and a beta of 0.91. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. Stryker Co. has a 1-year low of $285.79 and a 1-year high of $398.20.

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

Analyst Ratings Changes

A number of research firms have recently commented on SYK. Citigroup increased their target price on Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Evercore ISI raised their price objective on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Needham & Company LLC lifted their price objective on Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and set a $420.00 target price (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Finally, Wolfe Research initiated coverage on shares of Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and an average price target of $393.65.

Insider Transactions at Stryker

In related news, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at $3,715,540. This trade represents a 17.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,781 shares of company stock valued at $24,612,275. 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.