Impax Asset Management Group plc Decreases Position in Stryker Co. (NYSE:SYK)

Impax Asset Management Group plc decreased its position in shares of Stryker Co. (NYSE:SYK) by 3.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,622 shares of the medical technology company’s stock after selling 243 shares during the quarter. Impax Asset Management Group plc’s holdings in Stryker were worth $2,392,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sargent Investment Group LLC raised its holdings in shares of Stryker by 26.4% during the third quarter. Sargent Investment Group LLC now owns 985 shares of the medical technology company’s stock valued at $356,000 after purchasing an additional 206 shares during the last quarter. ING Groep NV raised its stake in Stryker by 62.9% during the 3rd quarter. ING Groep NV now owns 124,854 shares of the medical technology company’s stock valued at $45,105,000 after buying an additional 48,231 shares during the last quarter. Intelligence Driven Advisers LLC bought a new position in shares of Stryker during the 3rd quarter valued at $246,000. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Stryker by 3.2% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,417 shares of the medical technology company’s stock worth $3,402,000 after buying an additional 289 shares during the last quarter. Finally, Sivik Global Healthcare LLC grew its holdings in shares of Stryker by 8.0% in the third quarter. Sivik Global Healthcare LLC now owns 27,000 shares of the medical technology company’s stock worth $9,754,000 after acquiring an additional 2,000 shares during the period. Institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

SYK stock opened at $390.08 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The company’s fifty day moving average price is $364.07 and its 200-day moving average price is $347.40. Stryker Co. has a one year low of $282.35 and a one year high of $392.70. The company 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 issued its earnings results 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. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the previous year, the firm posted $2.46 earnings per share. The business’s revenue was up 11.9% compared to the same quarter last year. On average, equities analysts anticipate that Stryker Co. will post 12.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,715,540. The trade was a 17.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,381 shares of company stock valued at $24,825,275 in the last three months. Corporate insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SYK. Canaccord Genuity Group boosted their price target on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Stifel Nicolaus cut their target price on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Wells Fargo & Company increased their price target on shares of Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. UBS Group boosted their price objective on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Truist Financial raised their target price on Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $393.65.

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.