Mackay Shields LLC lowered its position in shares of Stryker Co. (NYSE:SYK) by 41.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,908 shares of the medical technology company’s stock after selling 38,022 shares during the period. Mackay Shields LLC’s holdings in Stryker were worth $11,444,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Massey Quick Simon & CO. LLC bought a new stake in shares of Stryker during the second quarter valued at approximately $27,000. Ossiam bought a new stake in Stryker in the 2nd quarter worth approximately $33,000. Garrett Wealth Advisory Group LLC bought a new stake in Stryker in the 3rd quarter worth approximately $35,000. Stonebridge Capital Advisors LLC bought a new stake in Stryker in the 2nd quarter worth approximately $39,000. Finally, Webster Bank N. A. grew its position in Stryker by 300.0% in the 2nd quarter. Webster Bank N. A. now owns 200 shares of the medical technology company’s stock worth $41,000 after purchasing an additional 150 shares during the period. 73.13% of the stock is owned by institutional investors.
A number of equities research analysts have commented on SYK shares. Credit Suisse Group lifted their target price on shares of Stryker from $232.00 to $237.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Svb Leerink reissued an “outperform” rating on shares of Stryker in a research report on Wednesday, July 10th. Barclays downgraded shares of Stryker from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $226.00 to $207.00 in a research report on Tuesday. BMO Capital Markets set a $216.00 price objective on shares of Stryker and gave the company a “hold” rating in a research report on Friday, July 26th. Finally, UBS Group boosted their price objective on shares of Stryker from $220.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $219.08.
In other Stryker news, CEO Kevin Lobo sold 19,286 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $215.71, for a total value of $4,160,183.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP M Kathryn Fink sold 28,690 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $220.97, for a total transaction of $6,339,629.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,524 shares of company stock worth $14,731,927. 7.20% of the stock is owned by corporate insiders.
SYK opened at $202.58 on Thursday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.35 and a current ratio of 2.18. Stryker Co. has a fifty-two week low of $144.75 and a fifty-two week high of $223.45. The firm’s fifty day moving average is $213.94 and its 200 day moving average is $205.43. The stock has a market cap of $76.75 billion, a price-to-earnings ratio of 27.71, a price-to-earnings-growth ratio of 2.51 and a beta of 0.80.
Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.01. Stryker had a net margin of 23.55% and a return on equity of 25.33%. The company had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.58 billion. During the same quarter in the previous year, the company earned $1.69 EPS. Stryker’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, equities research analysts predict that Stryker Co. will post 8.23 earnings per share for the current year.
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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