PDT Partners LLC Sells 5,500 Shares of Stryker Co. (NYSE:SYK)

PDT Partners LLC decreased its position in shares of Stryker Co. (NYSE:SYK) by 84.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,012 shares of the medical technology company’s stock after selling 5,500 shares during the quarter. PDT Partners LLC’s holdings in Stryker were worth $366,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Centennial Bank AR lifted its stake in shares of Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 48 shares during the period. Darwin Wealth Management LLC acquired a new stake in Stryker in the third quarter worth about $36,000. HBW Advisory Services LLC acquired a new stake in Stryker in the third quarter worth about $42,000. Hara Capital LLC acquired a new stake in Stryker in the third quarter worth about $42,000. Finally, Grove Bank & Trust increased its position in Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 56 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Up 0.3 %

SYK stock opened at $390.97 on Wednesday. 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 $149.05 billion, a PE ratio of 41.90, a PEG ratio of 2.94 and a beta of 0.94. Stryker Co. has a 1-year low of $285.79 and a 1-year high of $398.20. The business’s 50 day simple moving average is $369.58 and its 200 day simple moving average is $352.53.

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

Insider Buying and Selling

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction 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 transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,715,540. This represents a 17.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 directly owns 100,027 shares in the company, valued at approximately $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. In the last three months, insiders have sold 66,781 shares of company stock valued at $24,612,275. 5.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Citigroup lifted their price objective on Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Robert W. Baird lifted their price objective on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a research report on Friday, November 22nd. Barclays boosted their target price on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. boosted their target price on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and a consensus target price of $398.40.

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.