Cahill Wealth Management LLC Has $1.48 Million Stock Position in Stryker Co. (NYSE:SYK)

Cahill Wealth Management LLC lowered its stake in Stryker Co. (NYSE:SYK) by 7.5% during the third quarter, Holdings Channel.com reports. The fund owned 4,096 shares of the medical technology company’s stock after selling 334 shares during the period. Stryker accounts for approximately 0.8% of Cahill Wealth Management LLC’s holdings, making the stock its 21st largest holding. Cahill Wealth Management LLC’s holdings in Stryker were worth $1,480,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SYK. Centennial Bank AR grew its holdings in Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the period. Central Pacific Bank Trust Division bought a new stake in shares of Stryker during the first quarter worth approximately $39,000. HBW Advisory Services LLC bought a new stake in shares of Stryker during the third quarter worth approximately $42,000. Hara Capital LLC bought a new stake in shares of Stryker during the third quarter worth approximately $42,000. Finally, Grove Bank & Trust boosted its stake in shares of Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after buying an additional 56 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insiders Place Their Bets

In other news, insider Viju Menon sold 600 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This represents a 0.00 % decrease in their ownership of the stock. 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 company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,381 shares of company stock valued at $24,825,275 over the last three months. Insiders own 5.90% of the company’s stock.

Stryker Stock Up 1.7 %

SYK opened at $375.96 on Friday. The company has a fifty day moving average price of $361.46 and a 200-day moving average price of $345.63. The firm has a market capitalization of $143.32 billion, a P/E ratio of 40.30, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. 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 one year low of $266.93 and a one year high of $377.83.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SYK shares. Piper Sandler restated an “overweight” rating and set a $420.00 target price (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Wells Fargo & Company increased 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. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a report on Wednesday. Truist Financial raised their target price on Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird raised their price target on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.