Stryker Co. (NYSE:SYK) Shares Sold by Bank of Montreal Can

Bank of Montreal Can reduced its position in shares of Stryker Co. (NYSE:SYK) by 2.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 544,087 shares of the medical technology company’s stock after selling 11,903 shares during the period. Bank of Montreal Can owned approximately 0.14% of Stryker worth $196,018,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Clearbridge Investments LLC lifted its holdings in shares of Stryker by 2.9% in the 2nd quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock valued at $790,554,000 after buying an additional 66,482 shares during the period. Parnassus Investments LLC purchased a new position in Stryker in the third quarter worth $762,798,000. Charles Schwab Investment Management Inc. lifted its holdings in 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 valued at $699,481,000 after acquiring an additional 37,000 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Stryker by 4.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,209,769 shares of the medical technology company’s stock worth $411,624,000 after purchasing an additional 46,375 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Stryker by 2.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,143,573 shares of the medical technology company’s stock worth $413,127,000 after purchasing an additional 32,491 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SYK shares. Evercore ISI increased their price target on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. UBS Group increased their target price on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Canaccord Genuity Group lifted their price target on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada upped their price target on Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Robert W. Baird lifted their price objective on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $393.65.

Insiders Place Their Bets

In other news, CEO Kevin Lobo sold 57,313 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the transaction, the vice president now owns 10,042 shares in the company, valued at $3,685,213.16. The trade was a 42.25 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,781 shares of company stock valued at $24,612,275. Insiders own 5.50% of the company’s stock.

Stryker Stock Performance

NYSE:SYK opened at $384.63 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The firm has a market cap of $146.63 billion, a PE ratio of 41.23, a P/E/G ratio of 2.90 and a beta of 0.91. The firm has a 50 day simple moving average of $366.45 and a 200-day simple moving average of $350.00. Stryker Co. has a 1-year low of $285.79 and a 1-year high of $398.20.

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

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.