Stryker Co. (NYSE:SYK) Shares Sold by Bank of Montreal Can

Bank of Montreal Can reduced its stake in Stryker Co. (NYSE:SYK) by 2.1% in the 3rd quarter, Holdings Channel reports. The firm owned 544,087 shares of the medical technology company’s stock after selling 11,903 shares during the quarter. Bank of Montreal Can’s holdings in Stryker were worth $196,018,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Stryker by 78.9% during 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 raised its stake in shares of Stryker by 3,210.9% during 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 lifted its position in shares of 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 in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Stryker by 2.7% in the second quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company’s stock valued at $210,289,000 after purchasing an additional 16,504 shares during the period. Finally, Sivik Global Healthcare LLC grew its holdings in Stryker by 8.0% during 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 in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Kevin Lobo sold 57,313 shares of the 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 completion of the transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction 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 in the company, valued at $3,685,213.16. The trade was a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,781 shares of company stock valued at $24,612,275 in the last quarter. Company insiders own 5.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on SYK shares. StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. increased their price target on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Wells Fargo & Company raised their price objective on Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group upped their target price on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Robert W. Baird raised their price target on shares of Stryker from $378.00 to $405.00 and gave the stock 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $393.65.

Stryker Stock Performance

Shares of SYK stock opened at $384.63 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The business has a 50 day moving average of $366.45 and a two-hundred day moving average of $350.00. The company has a market cap of $146.63 billion, a P/E ratio of 41.23, a PEG 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 released its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.46 EPS. As a group, analysts anticipate that Stryker Co. will post 12.06 EPS for the current 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.