Rock Point Advisors LLC Reduces Stock Position in Stryker Co. (NYSE:SYK)

Rock Point Advisors LLC lowered its stake in Stryker Co. (NYSE:SYK) by 1.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,054 shares of the medical technology company’s stock after selling 200 shares during the period. Stryker makes up approximately 1.4% of Rock Point Advisors LLC’s investment portfolio, making the stock its 29th biggest position. Rock Point Advisors LLC’s holdings in Stryker were worth $5,077,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Avestar Capital LLC raised its holdings in shares of Stryker by 1.1% in the third quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock worth $1,065,000 after buying an additional 31 shares during the period. Brooklyn Investment Group grew its stake in Stryker by 3.6% in the third quarter. Brooklyn Investment Group now owns 2,465 shares of the medical technology company’s stock worth $891,000 after purchasing an additional 85 shares in the last quarter. D.A. Davidson & CO. boosted its position in Stryker by 0.5% during the third quarter. D.A. Davidson & CO. now owns 82,123 shares of the medical technology company’s stock valued at $29,668,000 after purchasing an additional 405 shares in the last quarter. FMR LLC raised its holdings in Stryker by 3.0% in the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after purchasing an additional 215,782 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Stryker by 3.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,257,091 shares of the medical technology company’s stock worth $454,136,000 after buying an additional 47,322 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Insider Activity at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the sale, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. This trade represents a 17.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,781 shares of company stock valued at $24,612,275 in the last ninety days. Corporate insiders own 5.50% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the topic of a number of recent analyst reports. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research report on Friday. UBS Group lifted their target price on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. BTIG Research upped their target price on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on shares of Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Needham & Company LLC raised their target price on Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and an average target price of $393.65.

Stryker Price Performance

NYSE:SYK traded up $2.11 during trading hours on Tuesday, hitting $387.02. The company’s stock had a trading volume of 62,545 shares, compared to its average volume of 1,267,377. Stryker Co. has a 52-week low of $285.79 and a 52-week high of $398.20. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The business’s 50-day moving average is $366.45 and its two-hundred day moving average is $350.00. The company has a market capitalization of $147.54 billion, a PE ratio of 41.23, a PEG 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. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm 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 earned $2.46 earnings per share. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, research analysts anticipate that Stryker Co. will post 12.06 EPS for the current fiscal year.

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.