Tradition Wealth Management LLC Cuts Stock Holdings in Stryker Co. (NYSE:SYK)

Tradition Wealth Management LLC lowered its stake in Stryker Co. (NYSE:SYK) by 5.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 841 shares of the medical technology company’s stock after selling 44 shares during the quarter. Tradition Wealth Management LLC’s holdings in Stryker were worth $304,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Centennial Bank AR lifted its position in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in Stryker in the 3rd quarter worth approximately $36,000. Hara Capital LLC bought a new stake in Stryker in the 3rd quarter worth approximately $42,000. HBW Advisory Services LLC purchased a new stake in shares of Stryker during the 3rd quarter worth approximately $42,000. Finally, Grove Bank & Trust boosted 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. Institutional investors own 77.09% of the company’s stock.

Insider Transactions at Stryker

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction dated 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 owns 10,042 shares in the company, valued at $3,715,540. The trade was a 17.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,781 shares of company stock valued at $24,612,275. Company insiders own 5.50% of the company’s stock.

Stryker Trading Up 1.0 %

SYK opened at $392.15 on Monday. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The stock’s fifty day moving average is $368.51 and its two-hundred day moving average is $351.74. The company has a market capitalization of $149.50 billion, a P/E ratio of 42.03, a PEG ratio of 2.96 and a beta of 0.94. Stryker Co. has a 52 week low of $285.79 and a 52 week high of $398.20.

Stryker (NYSE:SYK) last released its quarterly earnings data 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. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the previous year, the company posted $2.46 earnings per share. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. Analysts forecast that Stryker Co. will post 12.06 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. BTIG Research upped their price target on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Robert W. Baird upped their target price on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Evercore ISI lifted their price target on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and set a $420.00 price objective (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada lifted their target price on Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $393.65.

About Stryker

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.