Freedom Investment Management Inc. Sells 307 Shares of Stryker Co. (NYSE:SYK)

Freedom Investment Management Inc. lowered its position in Stryker Co. (NYSE:SYK) by 4.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,020 shares of the medical technology company’s stock after selling 307 shares during the period. Freedom Investment Management Inc.’s holdings in Stryker were worth $2,175,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Centennial Bank AR increased its stake in Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in Stryker in the 3rd quarter valued at $36,000. HBW Advisory Services LLC acquired a new position in Stryker in the 3rd quarter worth $42,000. Hara Capital LLC acquired a new stake in shares of Stryker in the 3rd quarter valued at about $42,000. Finally, Grove Bank & Trust lifted its holdings in shares of Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after purchasing an additional 56 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SYK. Piper Sandler reissued an “overweight” rating and issued a $420.00 target price (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Truist Financial increased their target price on shares of Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Citigroup boosted their price target on shares of Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Wolfe Research began coverage on Stryker in a report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price on the stock. Finally, StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a research report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker has an average rating of “Moderate Buy” and a consensus price target of $393.65.

Insider Buying and Selling

In related news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the sale, the vice president now directly owns 10,042 shares in the company, valued at $3,685,213.16. This represents a 42.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction dated 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 transaction, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,781 shares of company stock valued at $24,612,275 over the last 90 days. 5.50% of the stock is owned by corporate insiders.

Stryker Price Performance

Shares of NYSE SYK opened at $389.71 on Wednesday. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The business’s 50 day moving average is $366.97 and its 200-day moving average is $350.42. Stryker Co. has a 1-year low of $285.79 and a 1-year high of $398.20. The firm has a market cap of $148.57 billion, a P/E ratio of 41.77, a price-to-earnings-growth ratio of 2.90 and a beta of 0.91.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the prior year, the company posted $2.46 earnings per share. Stryker’s revenue was up 11.9% compared to the same quarter last year. Equities research analysts predict that Stryker Co. will post 12.06 earnings per share for the current year.

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.