Stryker Co. (NYSE:SYK) Shares Sold by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC lowered its position in shares of Stryker Co. (NYSE:SYK) by 2.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,577 shares of the medical technology company’s stock after selling 463 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Stryker were worth $7,434,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Parnassus Investments LLC purchased a new position in Stryker during the third quarter worth approximately $762,798,000. International Assets Investment Management LLC raised its stake in shares of Stryker by 66,967.5% in the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after acquiring an additional 852,496 shares during the period. American Century Companies Inc. raised its stake in shares of Stryker by 287.6% in the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock valued at $172,033,000 after acquiring an additional 375,166 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Stryker by 49.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 686,416 shares of the medical technology company’s stock valued at $233,553,000 after acquiring an additional 228,139 shares during the period. Finally, Sofinnova Investments Inc. purchased a new position in shares of Stryker in the 2nd quarter valued at $65,697,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Down 0.1 %

NYSE SYK opened at $384.63 on Tuesday. 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’s 50 day simple moving average is $366.45 and its 200 day simple moving average is $350.00. Stryker Co. has a 12 month low of $285.79 and a 12 month high of $398.20. The company has a market capitalization of $146.63 billion, a P/E ratio of 41.23, a PEG ratio of 2.90 and a beta of 0.91.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS 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%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.46 EPS. Equities research analysts expect that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Insider Transactions at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction that occurred 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 sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,715,540. This trade represents a 17.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,781 shares of company stock valued at $24,612,275 over the last ninety days. Corporate insiders own 5.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus lowered their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Robert W. Baird raised their price objective on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Truist Financial lifted their price target on shares of Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Wolfe Research began coverage on shares of Stryker in a report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price target for the company. Finally, Canaccord Genuity Group lifted their price objective on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” 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 MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus price target 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.