GLOBALT Investments LLC GA Has $5.37 Million Stock Position in Stryker Co. (NYSE:SYK)

GLOBALT Investments LLC GA cut its holdings in shares of Stryker Co. (NYSE:SYK) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,872 shares of the medical technology company’s stock after selling 217 shares during the quarter. GLOBALT Investments LLC GA’s holdings in Stryker were worth $5,373,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. MAI Capital Management grew its position in Stryker by 16.0% in the 3rd quarter. MAI Capital Management now owns 90,399 shares of the medical technology company’s stock worth $32,658,000 after purchasing an additional 12,440 shares during the last quarter. Aljian Capital Management LLC increased its stake in Stryker by 6.1% during the third quarter. Aljian Capital Management LLC now owns 12,605 shares of the medical technology company’s stock valued at $4,554,000 after acquiring an additional 722 shares during the period. Swiss National Bank raised its holdings in Stryker by 0.4% in the 3rd quarter. Swiss National Bank now owns 1,017,600 shares of the medical technology company’s stock valued at $367,618,000 after acquiring an additional 4,300 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Stryker by 6.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 93,239 shares of the medical technology company’s stock worth $33,683,000 after acquiring an additional 5,995 shares during the period. Finally, Claro Advisors LLC grew its holdings in shares of Stryker by 8.6% during the 3rd quarter. Claro Advisors LLC now owns 3,941 shares of the medical technology company’s stock worth $1,424,000 after purchasing an additional 311 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Robert W. Baird raised their target price on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Stifel Nicolaus reduced their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Truist Financial upped their target price on shares of Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Evercore ISI raised their price target on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price objective on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $393.65.

Stryker Stock Up 1.8 %

Shares of NYSE SYK opened at $390.08 on Monday. Stryker Co. has a 1 year low of $282.35 and a 1 year high of $392.70. The firm’s 50-day moving average is $364.07 and its 200-day moving average is $347.54. 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 $148.71 billion, a PE ratio of 41.81, a price-to-earnings-growth ratio of 2.94 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 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 analysts’ expectations of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the firm earned $2.46 earnings per share. Equities analysts expect that Stryker Co. will post 12.06 EPS for the current year.

Insider Activity

In other news, VP M Kathryn Fink sold 2,121 shares of the firm’s 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 sale, the vice president now owns 10,042 shares of the company’s stock, valued at $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 is available through this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, 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. Insiders sold a total of 67,381 shares of company stock valued at $24,825,275 in the last ninety days. 5.50% of the stock is owned by insiders.

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.