Mizuho Securities USA LLC Reduces Stake in Stryker Co. (NYSE:SYK)

Mizuho Securities USA LLC reduced its stake in Stryker Co. (NYSE:SYK) by 15.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,232 shares of the medical technology company’s stock after selling 3,909 shares during the quarter. Mizuho Securities USA LLC’s holdings in Stryker were worth $8,032,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Integrated Investment Consultants LLC grew its holdings in Stryker by 11.0% in the 3rd quarter. Integrated Investment Consultants LLC now owns 3,836 shares of the medical technology company’s stock valued at $1,386,000 after buying an additional 380 shares in the last quarter. German American Bancorp Inc. grew its holdings in Stryker by 6.6% in the 3rd quarter. German American Bancorp Inc. now owns 758 shares of the medical technology company’s stock valued at $274,000 after buying an additional 47 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Stryker by 4.8% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 50,506 shares of the medical technology company’s stock valued at $18,246,000 after buying an additional 2,322 shares in the last quarter. King Luther Capital Management Corp grew its holdings in shares of Stryker by 0.3% during the 3rd quarter. King Luther Capital Management Corp now owns 393,826 shares of the medical technology company’s stock worth $142,274,000 after purchasing an additional 1,357 shares during the period. Finally, Citizens Financial Group Inc. RI grew its holdings in shares of Stryker by 9.9% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 55,673 shares of the medical technology company’s stock worth $20,113,000 after purchasing an additional 5,033 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on SYK shares. Truist Financial raised their target price on Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Robert W. Baird raised their target price on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Stifel Nicolaus reduced their price target on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, Needham & Company LLC increased their price target on Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and an average target price of $393.65.

Insider Buying and Selling

In related news, insider Viju Menon sold 600 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was 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 directly owns 9,069 shares in the company, valued at approximately $3,219,495. This represents a 6.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction on 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 owns 100,027 shares of the company’s stock, valued at $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. Over the last ninety days, insiders sold 67,381 shares of company stock valued at $24,825,275. 5.90% of the stock is owned by insiders.

Stryker Trading Down 0.8 %

Shares of SYK stock opened at $385.68 on Thursday. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. Stryker Co. has a twelve month low of $285.79 and a twelve month high of $398.20. The company has a market capitalization of $147.03 billion, a P/E ratio of 41.34, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91. The business’s 50 day moving average is $365.46 and its two-hundred day moving average is $348.66.

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