Stryker Co. (NYSE:SYK) Shares Sold by Spinnaker Trust

Spinnaker Trust trimmed its position in Stryker Co. (NYSE:SYK) by 13.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,211 shares of the medical technology company’s stock after selling 340 shares during the period. Spinnaker Trust’s holdings in Stryker were worth $799,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Koshinski Asset Management Inc. acquired a new position in Stryker during the first quarter worth about $795,000. Envestnet Portfolio Solutions Inc. lifted its stake in Stryker by 43.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock valued at $6,617,000 after purchasing an additional 5,565 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Stryker by 78.9% during the second 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 in the last quarter. M&G Plc acquired a new position in Stryker in the first quarter worth approximately $11,534,000. Finally, OFI Invest Asset Management increased its holdings in shares of Stryker by 3,210.9% in 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 buying an additional 3,243 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Insider Activity

In other Stryker news, insider Viju Menon sold 600 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at approximately $3,685,213.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Viju Menon sold 600 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. 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 valued at $3,693,972 over the last three months. 5.50% of the stock is owned by insiders.

Stryker Price Performance

Shares of NYSE SYK traded down $4.38 during mid-day trading on Wednesday, hitting $365.48. 415,320 shares of the stock were exchanged, compared to its average volume of 1,252,785. The company has a market cap of $139.33 billion, a P/E ratio of 39.64, a PEG ratio of 2.77 and a beta of 0.91. 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 Co. has a twelve month low of $266.93 and a twelve month high of $376.04. The stock’s fifty day simple moving average is $360.66 and its two-hundred day simple moving average is $344.95.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. The company had revenue of $5.49 billion for 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 was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.46 earnings per share. As a group, analysts forecast that Stryker Co. will post 12.06 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Royal Bank of Canada lifted their target price on Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Wells Fargo & Company lifted their target price on shares of Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Morgan Stanley increased their price objective on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. BTIG Research raised their price objective on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Robert W. Baird upped their price objective on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.