Stryker Co. (NYSE:SYK) Stock Holdings Decreased by Bridgewater Associates LP

Bridgewater Associates LP lowered its position in shares of Stryker Co. (NYSE:SYK) by 80.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,238 shares of the medical technology company’s stock after selling 247,566 shares during the quarter. Bridgewater Associates LP’s holdings in Stryker were worth $21,400,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Avestar Capital LLC boosted its holdings in Stryker by 1.1% in the third quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock worth $1,065,000 after purchasing an additional 31 shares in the last quarter. Patrick M Sweeney & Associates Inc. lifted its position in Stryker by 1.5% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock worth $793,000 after acquiring an additional 32 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Stryker by 4.0% during the second quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock valued at $294,000 after acquiring an additional 33 shares during the period. Stanley Laman Group Ltd. grew its position in shares of Stryker by 4.6% in the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock valued at $256,000 after purchasing an additional 33 shares during the last quarter. Finally, Plimoth Trust Co. LLC increased its stake in shares of Stryker by 0.3% in the second quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock worth $3,224,000 after purchasing an additional 33 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,685,213.16. The trade was a 42.25 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,781 shares of company stock valued at $24,612,275. 5.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Evercore ISI raised their target price on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and issued a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. BTIG Research upped their target price on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a research report on Friday, November 22nd. Finally, Truist Financial upped their price objective on shares of Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $393.65.

Stryker Stock Performance

Stryker stock opened at $388.14 on Thursday. The stock has a 50-day simple moving average of $367.50 and a 200 day simple moving average of $350.68. The stock has a market capitalization of $147.97 billion, a price-to-earnings ratio of 41.60, a P/E/G 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. Stryker Co. has a 12-month low of $285.79 and a 12-month 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, topping analysts’ consensus estimates of $2.77 by $0.10. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. Stryker’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.46 earnings per share. On average, research analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

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.