Bridgewater Associates LP Sells 247,566 Shares of Stryker Co. (NYSE:SYK)

Bridgewater Associates LP decreased its stake in shares of Stryker Co. (NYSE:SYK) by 80.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 59,238 shares of the medical technology company’s stock after selling 247,566 shares during the period. Bridgewater Associates LP’s holdings in Stryker were worth $21,400,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Kennedy Capital Management LLC acquired a new stake in Stryker during the 1st quarter worth approximately $957,000. Tidal Investments LLC boosted its position in shares of Stryker by 14.2% in the first quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company’s stock valued at $4,853,000 after acquiring an additional 1,681 shares during the period. Citizens Financial Group Inc. RI grew its stake in shares of Stryker by 17.2% in the first quarter. Citizens Financial Group Inc. RI now owns 2,540 shares of the medical technology company’s stock valued at $909,000 after acquiring an additional 372 shares in the last quarter. Swedbank AB bought a new position in Stryker during the first quarter worth about $16,239,000. Finally, Atria Investments Inc raised its stake in Stryker by 12.2% in the 1st quarter. Atria Investments Inc now owns 20,395 shares of the medical technology company’s stock worth $7,299,000 after purchasing an additional 2,212 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Price Performance

Shares of NYSE:SYK opened at $388.14 on Thursday. 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 52 week low of $285.79 and a 52 week high of $398.20. The firm has a market cap of $147.97 billion, a PE ratio of 41.60, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. The firm’s fifty day moving average is $367.50 and its 200-day moving average is $350.68.

Stryker (NYSE:SYK) last announced its 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 firm had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.46 EPS. Sell-side analysts predict that Stryker Co. will post 12.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

SYK has been the topic of several recent research reports. BTIG Research raised their target price on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Evercore ISI raised their target price on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a research note on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $420.00 price objective (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Finally, Robert W. Baird lifted their target price on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

Insiders Place Their Bets

In other news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction that occurred 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 owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction 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 transaction, the vice president now owns 10,042 shares in the company, valued at $3,715,540. The trade was a 17.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,781 shares of company stock worth $24,612,275. 5.90% of the stock is currently owned by insiders.

About Stryker

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.