Stryker Corporation $SYK Position Trimmed by Ethic Inc.

Ethic Inc. decreased its holdings in Stryker Corporation (NYSE:SYK) by 6.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 53,818 shares of the medical technology company’s stock after selling 3,715 shares during the quarter. Ethic Inc.’s holdings in Stryker were worth $14,821,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. StoneX Group Inc. lifted its holdings in shares of Stryker by 53.2% during the third quarter. StoneX Group Inc. now owns 2,868 shares of the medical technology company’s stock valued at $836,000 after purchasing an additional 996 shares during the last quarter. Axiom Investment Management LLC increased its stake in Stryker by 187.6% in the 3rd quarter. Axiom Investment Management LLC now owns 509 shares of the medical technology company’s stock worth $140,000 after purchasing an additional 332 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in Stryker by 0.4% in the 3rd quarter. Pictet Asset Management Holding SA now owns 403,309 shares of the medical technology company’s stock worth $111,067,000 after purchasing an additional 1,699 shares in the last quarter. United Advisor Group LLC increased its stake in Stryker by 18.2% in the 3rd quarter. United Advisor Group LLC now owns 929 shares of the medical technology company’s stock worth $256,000 after purchasing an additional 143 shares in the last quarter. Finally, Plancorp LLC raised its holdings in Stryker by 11.7% during the 3rd quarter. Plancorp LLC now owns 810 shares of the medical technology company’s stock worth $236,000 after buying an additional 85 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insiders Place Their Bets

In other Stryker news, insider Dylan Crotty sold 441 shares of Stryker stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $328.61, for a total transaction of $144,917.01. Following the transaction, the insider owned 6,102 shares of the company’s stock, valued at $2,005,178.22. The trade was a 6.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ronda Stryker sold 50,000 shares of Stryker stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $340.10, for a total value of $17,005,000.00. Following the transaction, the director directly owned 2,251,375 shares in the company, valued at approximately $765,692,637.50. This trade represents a 2.17% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 351,267 shares of company stock worth $118,197,701. 4.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on SYK shares. BTIG Research reduced their price objective on shares of Stryker from $316.00 to $304.00 and set a “buy” rating for the company in a research note on Friday, October 30th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Stryker in a report on Wednesday, October 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Stryker in a research report on Thursday, October 29th. JPMorgan Chase & Co. cut their price target on shares of Stryker from $350.00 to $340.00 and set an “overweight” rating on the stock in a report on Friday, October 30th. Finally, The Goldman Sachs Group reduced their price target on shares of Stryker from $363.00 to $339.00 and set a “neutral” rating for the company in a research report on Tuesday, July 14th. Twenty-one investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $343.73.

Stryker Stock Performance

Shares of Stryker stock opened at $325.26 on Friday. Stryker Corporation has a 12 month low of $267.00 and a 12 month high of $389.33. The company has a quick ratio of 1.30, a current ratio of 2.18 and a debt-to-equity ratio of 0.60. The stock has a market cap of $123.83 billion, a PE ratio of 34.64, a price-to-earnings-growth ratio of 2.24 and a beta of 0.78. The business has a fifty day simple moving average of $292.37 and a 200-day simple moving average of $323.59.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, October 29th. The medical technology company reported $3.52 earnings per share for the quarter, missing the consensus estimate of $3.55 by ($0.03). The business had revenue of $6.52 billion for the quarter, compared to analyst estimates of $6.62 billion. Stryker had a net margin of 13.78% and a return on equity of 23.74%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.19 earnings per share. On average, sell-side analysts anticipate that Stryker Corporation will post 14.84 EPS for the current fiscal year.

Stryker Company Profile

Stryker is a medical technology company that develops and sells products and services for healthcare providers. Its offerings include orthopedic implants and surgical equipment, neurotechnology and spine products, and medical and surgical equipment used in hospitals and other care settings.

The company’s products also include patient-handling and emergency medical equipment, as well as instruments and technologies that support surgical procedures. Stryker serves healthcare customers in the United States and internationally.

Founded in 1941 by orthopedic surgeon Dr.