Mirabella Financial Services LLP Sells 49,366 Shares of Stryker Co. (NYSE:SYK)

Mirabella Financial Services LLP trimmed its position in shares of Stryker Co. (NYSE:SYK) by 60.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 32,700 shares of the medical technology company’s stock after selling 49,366 shares during the period. Mirabella Financial Services LLP’s holdings in Stryker were worth $11,813,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Parnassus Investments LLC purchased a new stake in shares of Stryker during the third quarter valued at approximately $762,798,000. International Assets Investment Management LLC raised its stake in shares of Stryker by 66,967.5% in the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after purchasing an additional 852,496 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Stryker by 287.6% during the second quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock valued at $172,033,000 after buying an additional 375,166 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in Stryker by 49.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 686,416 shares of the medical technology company’s stock valued at $233,553,000 after acquiring an additional 228,139 shares during the period. Finally, Sofinnova Investments Inc. bought a new stake in shares of Stryker in the second quarter worth approximately $65,697,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Up 0.5 %

NYSE:SYK opened at $386.95 on Monday. The stock has a fifty day simple moving average of $366.20 and a 200-day simple moving average of $349.63. 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 has a market cap of $147.51 billion, a price-to-earnings ratio of 41.25, a price-to-earnings-growth ratio of 2.90 and a beta of 0.91. Stryker Co. has a twelve month low of $285.79 and a twelve month high of $398.20.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping 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 the consensus estimate of $5.37 billion. During the same period in the prior year, the firm earned $2.46 EPS. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. Analysts anticipate that Stryker Co. will post 12.06 EPS for the current year.

Insider Transactions at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred on 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 in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This trade represents a 6.21 % decrease in their position. 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. 5.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SYK. Royal Bank of Canada raised their price target on Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Barclays raised their price objective on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Wolfe Research started coverage on shares of Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective for the company. JPMorgan Chase & Co. raised their target price on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Truist Financial lifted their price objective on Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $393.65.

About Stryker

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.