Stryker Corporation $SYK Stock Sold by Legacy Trust

Legacy Trust decreased its position in shares of Stryker Corporation (NYSE:SYK) by 6.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,162 shares of the medical technology company’s stock after selling 2,005 shares during the period. Stryker comprises 1.4% of Legacy Trust’s portfolio, making the stock its 24th biggest position. Legacy Trust’s holdings in Stryker were worth $8,219,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SYK. Bank of America Corp DE bought a new stake in Stryker during the 2nd quarter worth approximately $1,404,284,000. Legal & General Group Plc acquired a new stake in Stryker during the 2nd quarter valued at $707,212,000. Jupiter Topco LLC bought a new position in Stryker in the 2nd quarter valued at $681,581,000. Corient Private Wealth LP bought a new position in Stryker in the 2nd quarter valued at $323,035,000. Finally, Flossbach Von Storch SE acquired a new position in Stryker in the second quarter worth $464,506,000. Institutional investors own 77.09% of the company’s stock.

Insider Activity

In other news, insider Dylan Crotty sold 441 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $328.61, for a total value of $144,917.01. Following the transaction, the insider directly owned 6,102 shares in the company, valued at $2,005,178.22. This trade represents a 6.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Debra King sold 826 shares of Stryker stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $336.30, for a total value of $277,783.80. Following the sale, the insider directly owned 6,210 shares of the company’s stock, valued at approximately $2,088,423. This trade represents a 11.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 901,267 shares of company stock valued at $297,123,701 in the last 90 days. 4.60% of the stock is owned by company insiders.

Stryker Stock Performance

Shares of Stryker stock opened at $312.17 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.18 and a quick ratio of 1.30. The firm has a 50 day simple moving average of $292.28 and a 200 day simple moving average of $322.83. Stryker Corporation has a fifty-two week low of $267.00 and a fifty-two week high of $389.33. The firm has a market cap of $118.84 billion, a P/E ratio of 33.24, a P/E/G ratio of 2.19 and a beta of 0.78.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, October 29th. The medical technology company reported $3.52 EPS for the quarter, missing analysts’ consensus estimates of $3.55 by ($0.03). Stryker had a net margin of 13.78% and a return on equity of 23.74%. The firm had revenue of $6.52 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter in the previous year, the business posted $3.19 earnings per share. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. Sell-side analysts predict that Stryker Corporation will post 14.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the company. Rothschild & Co Redburn decreased their target price on Stryker from $360.00 to $336.00 in a report on Monday, November 2nd. Jefferies Financial Group lowered their target price on Stryker from $440.00 to $405.00 and set a “buy” rating for the company in a research note on Tuesday, September 22nd. BTIG Research cut their price target on Stryker from $316.00 to $304.00 and set a “buy” rating for the company in a report on Friday, October 30th. Truist Financial reiterated a “hold” rating and set a $305.00 price target (down from $310.00) on shares of Stryker in a research report on Monday, November 2nd. Finally, Wall Street Zen downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research report on Saturday, October 3rd. Twenty-one equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $342.19.

About Stryker

Stryker is a medical technology company that develops and sells products and services for healthcare providers. Its offerings include orthopedic implants and surgical equipment, neurotechnology and spine products, and medical and surgical equipment used in hospitals and other care settings. The company’s products also include patient-handling and emergency medical equipment, as well as instruments and technologies that support surgical procedures. Stryker serves healthcare customers in the United States and internationally.