Los Angeles Capital Management LLC Decreases Position in Stryker Co. (NYSE:SYK)

Los Angeles Capital Management LLC trimmed its holdings in Stryker Co. (NYSE:SYK) by 40.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,814 shares of the medical technology company’s stock after selling 146,659 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Stryker were worth $77,604,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Arrow Financial Corp lifted its stake in Stryker by 0.4% in the 3rd quarter. Arrow Financial Corp now owns 13,521 shares of the medical technology company’s stock worth $4,885,000 after purchasing an additional 55 shares in the last quarter. Mesirow Financial Investment Management Inc. lifted its stake in Stryker by 1.4% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 18,136 shares of the medical technology company’s stock worth $6,554,000 after purchasing an additional 253 shares in the last quarter. XML Financial LLC lifted its stake in Stryker by 7.1% in the 3rd quarter. XML Financial LLC now owns 3,100 shares of the medical technology company’s stock worth $1,120,000 after purchasing an additional 205 shares in the last quarter. Carr Financial Group Corp purchased a new position in Stryker in the 3rd quarter worth approximately $219,000. Finally, Atria Investments Inc lifted its stake in Stryker by 11.2% in the 3rd quarter. Atria Investments Inc now owns 23,722 shares of the medical technology company’s stock worth $8,570,000 after purchasing an additional 2,383 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction on 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 completion of 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 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction on 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 completion of 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 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Viju Menon sold 600 shares of Stryker 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 sale, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,381 shares of company stock worth $24,825,275 over the last 90 days. Corporate insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on SYK shares. Royal Bank of Canada raised their target price on shares of Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Morgan Stanley raised their price target on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Citigroup raised their price target on shares of Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Piper Sandler restated an “overweight” rating and set a $420.00 price target (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Finally, UBS Group raised their price target on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Stock Up 1.7 %

Shares of NYSE:SYK traded up $6.13 during trading on Friday, hitting $375.96. The company’s stock had a trading volume of 1,009,226 shares, compared to its average volume of 1,183,677. The business has a 50 day moving average price of $361.46 and a two-hundred day moving average price of $345.71. The company has a market capitalization of $143.32 billion, a PE ratio of 40.30, a P/E/G ratio of 2.83 and a beta of 0.91. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. Stryker Co. has a fifty-two week low of $266.93 and a fifty-two week high of $377.83.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.77 by $0.10. The business had revenue of $5.49 billion during 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 company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.46 earnings per share. As a group, research analysts expect that Stryker Co. will post 12.06 EPS 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.