Concentric Wealth Management LLC Sells 410 Shares of Stryker Co. (NYSE:SYK)

Concentric Wealth Management LLC cut its stake in shares of Stryker Co. (NYSE:SYK) by 2.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 16,315 shares of the medical technology company’s stock after selling 410 shares during the quarter. Stryker accounts for about 1.4% of Concentric Wealth Management LLC’s holdings, making the stock its 24th largest position. Concentric Wealth Management LLC’s holdings in Stryker were worth $5,894,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SYK. Clearbridge Investments LLC grew its holdings in Stryker by 2.9% during 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 in the last quarter. Parnassus Investments LLC bought a new stake in shares of Stryker during the third quarter valued at approximately $762,798,000. Charles Schwab Investment Management Inc. lifted its stake 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 worth $699,481,000 after acquiring an additional 37,000 shares during the period. 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 worth $411,624,000 after buying an additional 46,375 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Stryker by 2.9% in the 3rd 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 acquiring an additional 32,491 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SYK. Wells Fargo & Company upped their target price on Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Robert W. Baird increased their price objective on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and issued a $420.00 target price (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Royal Bank of Canada raised their target price on shares of Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, UBS Group upped their price target on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $393.65.

Insider Buying and Selling at Stryker

In related news, insider Viju Menon sold 600 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. The trade was a 6.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,381 shares of company stock valued at $24,825,275 in the last quarter. Corporate insiders own 5.50% of the company’s stock.

Stryker Price Performance

SYK stock opened at $384.85 on Monday. Stryker Co. has a 52-week low of $285.79 and a 52-week high of $398.20. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The stock has a market cap of $146.71 billion, a price-to-earnings ratio of 41.25, a price-to-earnings-growth ratio of 2.90 and a beta of 0.91. The business has a fifty day moving average of $366.20 and a two-hundred day moving average of $349.63.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.77 by $0.10. The business had revenue of $5.49 billion during 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 company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the business posted $2.46 earnings per share. As a group, research analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current year.

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.