DE Burlo Group Inc. Decreases Stake in Stryker Co. (NYSE:SYK)

DE Burlo Group Inc. lowered its position in Stryker Co. (NYSE:SYK) by 10.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,493 shares of the medical technology company’s stock after selling 400 shares during the quarter. DE Burlo Group Inc.’s holdings in Stryker were worth $1,262,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its holdings in Stryker by 78.9% in 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 acquiring an additional 58,673 shares during the last quarter. OFI Invest Asset Management increased its holdings in Stryker by 3,210.9% in the 2nd quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company’s stock worth $1,062,000 after acquiring an additional 3,243 shares during the last quarter. Tidal Investments LLC increased its holdings in Stryker by 14.2% in the 1st quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company’s stock worth $4,853,000 after acquiring an additional 1,681 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Stryker by 2.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company’s stock worth $210,289,000 after acquiring an additional 16,504 shares during the last quarter. Finally, Sivik Global Healthcare LLC increased its holdings in Stryker by 8.0% in the 3rd quarter. Sivik Global Healthcare LLC now owns 27,000 shares of the medical technology company’s stock worth $9,754,000 after acquiring an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Activity at Stryker

In related news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. This trade represents a 17.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,381 shares of company stock worth $24,825,275. 5.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Royal Bank of Canada raised their target price on Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their price target on Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Robert W. Baird lifted their price target on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Stifel Nicolaus dropped their target price on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, Truist Financial boosted their target price on Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average price target of $393.65.

Stryker Price Performance

Shares of SYK stock opened at $385.68 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The business’s fifty day moving average is $365.46 and its 200 day moving average is $348.66. Stryker Co. has a twelve month low of $285.79 and a twelve month high of $398.20. The stock has a market cap of $147.03 billion, a price-to-earnings ratio of 41.34, a PEG ratio of 2.93 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The firm had revenue of $5.49 billion for the quarter, compared to the consensus estimate 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 prior year, the company posted $2.46 earnings per share. Research analysts expect that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Profile

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.