Associated Banc Corp Sells 1,228 Shares of Stryker Co. (NYSE:SYK)

Associated Banc Corp trimmed its position in shares of Stryker Co. (NYSE:SYK) by 5.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,604 shares of the medical technology company’s stock after selling 1,228 shares during the period. Associated Banc Corp’s holdings in Stryker were worth $7,443,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Centennial Bank AR raised its holdings in shares of Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC acquired a new position in Stryker during the third quarter worth approximately $36,000. HBW Advisory Services LLC bought a new stake in Stryker in the third quarter valued at approximately $42,000. Hara Capital LLC acquired a new stake in shares of Stryker in the third quarter valued at approximately $42,000. Finally, Grove Bank & Trust boosted its stake in shares of Stryker by 84.8% during the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after acquiring an additional 56 shares during the period. 77.09% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the sale, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. The trade was a 17.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 owns 9,069 shares of the company’s stock, valued at $3,219,495. The trade was a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,381 shares of company stock worth $24,825,275 in the last ninety days. 5.50% of the stock is owned by insiders.

Stryker Price Performance

SYK stock traded down $0.30 during mid-day trading on Monday, hitting $384.55. The stock had a trading volume of 27,275 shares, compared to its average volume of 1,263,657. The firm has a fifty day simple moving average of $366.20 and a 200 day simple moving average of $349.63. Stryker Co. has a 52 week low of $285.79 and a 52 week high of $398.20. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $146.60 billion, a P/E ratio of 41.25, a P/E/G ratio of 2.90 and a beta of 0.91.

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

Analyst Ratings Changes

SYK has been the topic of a number of research analyst reports. Truist Financial increased their price target on Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. BTIG Research lifted their target price on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Wolfe Research began coverage on shares of Stryker in a report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price target on the stock. Evercore ISI boosted their price objective on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company increased their target price on Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Company 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.