Mirabella Financial Services LLP Sells 49,366 Shares of Stryker Co. (NYSE:SYK)

Mirabella Financial Services LLP trimmed its position in Stryker Co. (NYSE:SYK) by 60.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,700 shares of the medical technology company’s stock after selling 49,366 shares during the period. Mirabella Financial Services LLP’s holdings in Stryker were worth $11,813,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SYK. Clearbridge Investments LLC grew its position in Stryker by 2.9% during the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock worth $790,554,000 after buying an additional 66,482 shares in the last quarter. Parnassus Investments LLC purchased a new position in shares of Stryker during the third quarter worth about $762,798,000. Charles Schwab Investment Management Inc. increased its position in shares of Stryker by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,936,226 shares of the medical technology company’s stock worth $699,481,000 after purchasing an additional 37,000 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Stryker by 4.0% in the second quarter. The Manufacturers Life Insurance Company now owns 1,209,769 shares of the medical technology company’s stock valued at $411,624,000 after purchasing an additional 46,375 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in Stryker by 2.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,143,573 shares of the medical technology company’s stock valued at $413,127,000 after purchasing an additional 32,491 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. UBS Group increased their price target on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a research note on Friday. Wolfe Research started coverage on Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective on the stock. 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. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $393.65.

Stryker Stock Performance

Stryker stock opened at $386.95 on Monday. 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 cap of $147.51 billion, a P/E ratio of 41.25, a P/E/G ratio of 2.90 and a beta of 0.91. Stryker Co. has a 1-year low of $285.79 and a 1-year high of $398.20. The firm has a 50-day moving average of $366.20 and a 200-day moving average of $349.63.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share 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 during the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter last year, the business posted $2.46 EPS. The business’s revenue was up 11.9% on a year-over-year basis. Sell-side analysts expect that Stryker Co. will post 12.06 EPS for the current year.

Insider Buying and Selling

In related news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. The trade was a 17.44 % 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 quarter. 5.50% of the stock is owned by company insiders.

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.