Stryker Co. (NYSE:SYK) Stock Holdings Cut by Pitcairn Co.

Pitcairn Co. reduced its position in shares of Stryker Co. (NYSE:SYK) by 9.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,689 shares of the medical technology company’s stock after selling 1,053 shares during the quarter. Pitcairn Co.’s holdings in Stryker were worth $3,862,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SYK. Centennial Bank AR boosted its stake in Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of Stryker during the 3rd quarter valued at $36,000. HBW Advisory Services LLC acquired a new stake in shares of Stryker during the 3rd quarter valued at $42,000. Hara Capital LLC acquired a new stake in shares of Stryker during the 3rd quarter valued at $42,000. Finally, Grove Bank & Trust lifted its position in shares of Stryker by 84.8% during the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after acquiring an additional 56 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. UBS Group increased their price objective on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Royal Bank of Canada increased their price objective on Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Wells Fargo & Company increased their price objective on Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Barclays increased their price objective on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Truist Financial increased their price objective on Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $393.65.

Insiders Place Their Bets

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Viju Menon sold 600 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The trade was a 6.21 % 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 over the last three months. 5.90% of the stock is currently owned by insiders.

Stryker Trading Down 1.3 %

NYSE SYK opened at $384.88 on Friday. Stryker Co. has a 1-year low of $285.79 and a 1-year high of $398.20. 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 company has a market capitalization of $146.72 billion, a PE ratio of 41.25, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. The firm’s fifty day simple moving average is $366.20 and its 200-day simple moving average is $349.36.

Stryker (NYSE:SYK) last posted its quarterly 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 the consensus estimate of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. Stryker’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.46 earnings per share. As a group, sell-side analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current fiscal 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.