Stryker Co. (NYSE:SYK) Shares Sold by D.B. Root & Company LLC

D.B. Root & Company LLC lowered its stake in Stryker Co. (NYSE:SYK) by 6.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,541 shares of the medical technology company’s stock after selling 257 shares during the quarter. D.B. Root & Company LLC’s holdings in Stryker were worth $1,279,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Koshinski Asset Management Inc. purchased a new position in Stryker in the first quarter valued at about $795,000. Envestnet Portfolio Solutions Inc. lifted its holdings in Stryker by 43.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock worth $6,617,000 after buying an additional 5,565 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in 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 worth $45,260,000 after buying an additional 58,673 shares during the last quarter. M&G Plc bought a new position in Stryker during the 1st quarter worth approximately $11,534,000. Finally, OFI Invest Asset Management lifted its holdings in Stryker by 3,210.9% during the 2nd quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company’s stock worth $1,062,000 after buying an additional 3,243 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Down 0.2 %

Shares of SYK stock opened at $369.02 on Thursday. Stryker Co. has a 1 year low of $266.93 and a 1 year high of $376.04. The stock has a market cap of $140.68 billion, a PE ratio of 39.55, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The business’s fifty day moving average is $360.91 and its 200-day moving average is $345.12. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.46 EPS. Equities analysts expect that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Viju Menon sold 600 shares of Stryker stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, 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 value of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,068 shares of company stock worth $3,693,972 in the last three months. 5.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on the company. Morgan Stanley increased their target price on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Robert W. Baird increased their target price on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and issued a $420.00 price target (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Wells Fargo & Company raised their price target on Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Barclays raised their price target on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. 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 has a consensus rating of “Moderate Buy” and an average price target 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.