Alerus Financial NA Decreases Stake in Stryker Co. (NYSE:SYK)

Alerus Financial NA cut its position in Stryker Co. (NYSE:SYK) by 9.3% during the third quarter, HoldingsChannel reports. The firm owned 669 shares of the medical technology company’s stock after selling 69 shares during the quarter. Alerus Financial NA’s holdings in Stryker were worth $242,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SYK. FMR LLC increased 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 valued at $2,639,725,000 after buying an additional 215,782 shares during the last quarter. Clearbridge Investments LLC increased 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 acquiring an additional 66,482 shares during the last quarter. Parnassus Investments LLC acquired a new stake in shares of Stryker during the 3rd quarter worth about $762,798,000. Charles Schwab Investment Management Inc. lifted its stake in Stryker by 1.9% during 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 purchasing an additional 37,000 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Stryker by 4.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,745,971 shares of the medical technology company’s stock valued at $630,749,000 after purchasing an additional 74,224 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SYK shares. Piper Sandler restated an “overweight” rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Needham & Company LLC boosted their price target on shares of Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. UBS Group upped their price objective on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. BTIG Research lifted their target price on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Citigroup upped their target price on Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $393.65.

Insiders Place Their Bets

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction dated 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 directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. This trade represents a 17.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,781 shares of company stock worth $24,612,275. Company insiders own 5.50% of the company’s stock.

Stryker Stock Performance

NYSE:SYK opened at $392.15 on Monday. The firm has a market cap of $149.50 billion, a price-to-earnings ratio of 42.03, a price-to-earnings-growth ratio of 2.96 and a beta of 0.94. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. Stryker Co. has a 1-year low of $285.79 and a 1-year high of $398.20. The firm’s fifty day moving average price is $368.51 and its 200 day moving average price is $351.74.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.10. The business had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.46 earnings per share. On average, sell-side analysts expect 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.