Stryker Corporation $SYK Stock Sold by Parallel Advisors LLC

Parallel Advisors LLC decreased its position in Stryker Corporation (NYSE:SYK) by 21.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 23,088 shares of the medical technology company’s stock after selling 6,270 shares during the period. Parallel Advisors LLC’s holdings in Stryker were worth $6,358,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of SYK. Community Bank & Trust Waco Texas raised its stake in shares of Stryker by 2.3% in the second quarter. Community Bank & Trust Waco Texas now owns 1,395 shares of the medical technology company’s stock valued at $439,000 after buying an additional 31 shares during the period. Cornerstone Financial Management LLC increased its holdings in Stryker by 66.0% in the 2nd quarter. Cornerstone Financial Management LLC now owns 78 shares of the medical technology company’s stock worth $25,000 after acquiring an additional 31 shares during the last quarter. NWF Advisory Services Inc. increased its holdings in Stryker by 2.3% in the 2nd quarter. NWF Advisory Services Inc. now owns 1,472 shares of the medical technology company’s stock worth $463,000 after acquiring an additional 33 shares during the last quarter. Private Harbour Investment Management & Counsel LLC increased its holdings in Stryker by 0.9% in the 2nd quarter. Private Harbour Investment Management & Counsel LLC now owns 3,927 shares of the medical technology company’s stock worth $1,236,000 after acquiring an additional 34 shares during the last quarter. Finally, Natural Investments LLC raised its stake in Stryker by 1.2% in the 2nd quarter. Natural Investments LLC now owns 2,789 shares of the medical technology company’s stock valued at $878,000 after acquiring an additional 34 shares during the period. 77.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Wall Street Zen downgraded shares of Stryker from a “buy” rating to a “hold” rating in a report on Saturday, October 3rd. Jefferies Financial Group reduced their target price on shares of Stryker from $440.00 to $405.00 and set a “buy” rating for the company in a research note on Tuesday, September 22nd. JPMorgan Chase & Co. lowered their price target on shares of Stryker from $350.00 to $340.00 and set an “overweight” rating on the stock in a research report on Friday, October 30th. Citigroup restated a “market outperform” rating on shares of Stryker in a research note on Friday, October 30th. Finally, Piper Sandler cut their price objective on shares of Stryker from $420.00 to $390.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Twenty-one equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $343.73.

Insider Activity at Stryker

In related news, insider Dylan Crotty sold 441 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $328.61, for a total transaction of $144,917.01. Following the completion of the transaction, the insider owned 6,102 shares of the company’s stock, valued at approximately $2,005,178.22. The trade was a 6.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronda Stryker sold 300,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $335.90, for a total transaction of $100,770,000.00. Following the completion of the sale, the director owned 2,301,375 shares in the company, valued at $773,031,862.50. This represents a 11.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 351,267 shares of company stock valued at $118,197,701. Corporate insiders own 4.60% of the company’s stock.

Stryker Stock Down 2.9%

Shares of NYSE SYK opened at $325.26 on Friday. Stryker Corporation has a 52 week low of $267.00 and a 52 week high of $389.33. The business has a 50-day simple moving average of $292.37 and a two-hundred day simple moving average of $323.59. 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 company has a market cap of $123.83 billion, a P/E ratio of 34.64, a P/E/G ratio of 2.24 and a beta of 0.78.

Stryker (NYSE:SYK) last announced 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). Stryker had a net margin of 13.78% and a return on equity of 23.74%. The company had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter in the prior year, the company earned $3.19 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. Research analysts anticipate that Stryker Corporation will post 14.84 earnings per share for the current fiscal year.

Stryker 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.