Peak Asset Management LLC Decreases Stake in Stryker Co. (NYSE:SYK)

Peak Asset Management LLC lowered its stake in Stryker Co. (NYSE:SYK) by 5.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,599 shares of the medical technology company’s stock after selling 2,714 shares during the period. Stryker accounts for 3.4% of Peak Asset Management LLC’s holdings, making the stock its 7th largest holding. Peak Asset Management LLC’s holdings in Stryker were worth $17,918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Koshinski Asset Management Inc. acquired a new stake in Stryker during the 1st quarter worth approximately $795,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Stryker by 78.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock worth $45,260,000 after purchasing an additional 58,673 shares during the period. M&G Plc bought a new stake in shares of Stryker in the first quarter worth $11,534,000. OFI Invest Asset Management increased its holdings in Stryker by 3,210.9% in the second quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company’s stock valued at $1,062,000 after purchasing an additional 3,243 shares during the period. Finally, Tidal Investments LLC raised its position in Stryker by 14.2% during the 1st quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company’s stock worth $4,853,000 after purchasing an additional 1,681 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

NYSE SYK opened at $388.34 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The company has a fifty day moving average price of $362.38 and a 200-day moving average price of $346.42. Stryker Co. has a 1 year low of $282.35 and a 1 year high of $390.59. The firm has a market cap of $148.04 billion, a price-to-earnings ratio of 41.62, a PEG ratio of 2.92 and a beta of 0.91.

Stryker (NYSE:SYK) last posted its 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 firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.46 EPS. As a group, equities research analysts predict that Stryker Co. will post 12.06 EPS for the current fiscal year.

Insider Buying and Selling at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,381 shares of company stock worth $24,825,275 in the last quarter. 5.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Citigroup raised 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. Piper Sandler restated an “overweight” rating and set a $420.00 price target (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Barclays upped their price objective on shares of Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. lifted their target price on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Wolfe Research assumed coverage on Stryker in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price objective for the company. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $393.65.

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.