Stryker Co. (NYSE:SYK) CEO Sells $21,131,303.10 in Stock

Stryker Co. (NYSE:SYK) CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Stryker Stock Performance

Shares of SYK traded up $6.25 during midday trading on Friday, reaching $376.08. 674,984 shares of the stock were exchanged, compared to its average volume of 1,252,986. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. Stryker Co. has a twelve month low of $266.93 and a twelve month high of $377.83. The business’s 50-day moving average price is $360.91 and its 200 day moving average price is $345.12. The company has a market capitalization of $143.37 billion, a price-to-earnings ratio of 39.64, a PEG ratio of 2.78 and a beta of 0.91.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SYK. Segall Bryant & Hamill LLC acquired a new position in Stryker in the 3rd quarter valued at $22,152,000. Prospera Private Wealth LLC acquired a new stake in shares of Stryker during the third quarter valued at about $124,000. Premier Fund Managers Ltd lifted its position in shares of Stryker by 6.2% during the third quarter. Premier Fund Managers Ltd now owns 46,190 shares of the medical technology company’s stock worth $16,637,000 after purchasing an additional 2,700 shares during the last quarter. West Family Investments Inc. lifted its holdings in Stryker by 7.3% in the third quarter. West Family Investments Inc. now owns 1,346 shares of the medical technology company’s stock worth $486,000 after acquiring an additional 91 shares during the last quarter. Finally, Parnassus Investments LLC bought a new stake in shares of Stryker during the third quarter valued at approximately $762,798,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SYK shares. BTIG Research boosted their price objective on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley lifted their target price on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. UBS Group lifted their target price on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group boosted their price target on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently 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.