Palisade Asset Management LLC Sells 1,144 Shares of Stryker Co. (NYSE:SYK)

Palisade Asset Management LLC decreased its holdings in Stryker Co. (NYSE:SYK) by 2.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,313 shares of the medical technology company’s stock after selling 1,144 shares during the period. Stryker accounts for approximately 1.4% of Palisade Asset Management LLC’s holdings, making the stock its 23rd biggest holding. Palisade Asset Management LLC’s holdings in Stryker were worth $13,841,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Centennial Bank AR boosted its holdings in shares of Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC purchased a new position in Stryker during the third quarter worth $36,000. HBW Advisory Services LLC bought a new position in Stryker during the third quarter valued at $42,000. Hara Capital LLC bought a new stake in shares of Stryker in the 3rd quarter worth about $42,000. Finally, Grove Bank & Trust boosted its position in shares of Stryker by 84.8% during the third 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 period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

Shares of SYK opened at $384.88 on Friday. The firm has a 50-day simple moving average of $366.20 and a two-hundred day simple moving average of $349.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. Stryker Co. has a 1-year low of $285.79 and a 1-year high of $398.20. The stock has a market cap of $146.72 billion, a PE ratio of 41.25, a P/E/G ratio of 2.94 and a beta of 0.91.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share 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 firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter last year, the firm earned $2.46 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, analysts forecast that Stryker Co. will post 12.06 EPS for the current year.

Insider Buying and Selling

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. This represents a 17.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Viju Menon sold 600 shares of Stryker stock in a transaction on Tuesday, August 27th. The shares were 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 owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This trade represents a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,381 shares of company stock valued at $24,825,275. Corporate insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SYK shares. Citigroup boosted their target price on shares of Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada raised their price target on shares of Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. UBS Group boosted their target price on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Wells Fargo & Company boosted their price target on Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus decreased their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average target price of $393.65.

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.