Great Lakes Advisors LLC Sells 8,337 Shares of Stryker Co. (NYSE:SYK)

Great Lakes Advisors LLC trimmed its stake in shares of Stryker Co. (NYSE:SYK) by 35.8% during the second quarter, HoldingsChannel.com reports. The firm owned 14,924 shares of the medical technology company’s stock after selling 8,337 shares during the quarter. Great Lakes Advisors LLC’s holdings in Stryker were worth $4,553,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP purchased a new stake in Stryker in the 1st quarter worth approximately $27,000. Bay Harbor Wealth Management LLC bought a new position in shares of Stryker in the second quarter worth $31,000. Freedom Wealth Alliance LLC purchased a new stake in shares of Stryker in the fourth quarter worth $26,000. Altshuler Shaham Ltd bought a new stake in Stryker during the first quarter valued at $33,000. Finally, HBW Advisory Services LLC purchased a new position in Stryker during the second quarter worth about $35,000. Hedge funds and other institutional investors own 76.24% of the company’s stock.

Stryker Price Performance

SYK stock opened at $289.29 on Tuesday. The stock has a market capitalization of $109.90 billion, a price-to-earnings ratio of 42.92, a PEG ratio of 2.78 and a beta of 0.94. The firm’s 50-day moving average price is $274.86 and its two-hundred day moving average price is $282.47. The company has a current ratio of 1.48, a quick ratio of 0.83 and a debt-to-equity ratio of 0.58. Stryker Co. has a 12-month low of $222.65 and a 12-month high of $306.93.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, November 2nd. The medical technology company reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.03. Stryker had a return on equity of 22.62% and a net margin of 13.00%. The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter in the previous year, the business earned $2.12 EPS. Stryker’s revenue was up 9.4% compared to the same quarter last year. As a group, equities analysts predict that Stryker Co. will post 10.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Citigroup lowered their price target on Stryker from $342.00 to $330.00 and set a “buy” rating on the stock in a report on Monday, October 2nd. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Monday, November 6th. Roth Mkm reissued a “buy” rating and issued a $345.00 price target on shares of Stryker in a report on Thursday, November 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $325.00 price objective on shares of Stryker in a report on Thursday, August 17th. Finally, Bank of America raised Stryker from a “neutral” rating to a “buy” rating and increased their target price for the company from $310.00 to $315.00 in a research note on Tuesday, September 5th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $311.30.

Insider Buying and Selling

In other Stryker news, Director Srikant M. Datar sold 750 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $287.57, for a total value of $215,677.50. Following the completion of the transaction, the director now directly owns 5,316 shares in the company, valued at approximately $1,528,722.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Srikant M. Datar sold 500 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $291.92, for a total value of $145,960.00. Following the sale, the director now directly owns 4,316 shares of the company’s stock, valued at $1,259,926.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Srikant M. Datar sold 750 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $287.57, for a total value of $215,677.50. Following the transaction, the director now directly owns 5,316 shares of the company’s stock, valued at approximately $1,528,722.12. The disclosure for this sale can be found here. Insiders sold 6,250 shares of company stock valued at $1,806,638 over the last quarter. 5.90% of the stock is owned by company insiders.

Stryker 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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.