Martingale Asset Management L P Cuts Stake in Stryker Co. (NYSE:SYK)

Martingale Asset Management L P lessened its stake in Stryker Co. (NYSE:SYK) by 7.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,228 shares of the medical technology company’s stock after selling 433 shares during the quarter. Martingale Asset Management L P’s holdings in Stryker were worth $1,889,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of SYK. EverSource Wealth Advisors LLC boosted its stake in Stryker by 67.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,273 shares of the medical technology company’s stock valued at $429,000 after purchasing an additional 513 shares during the last quarter. GAMMA Investing LLC raised its stake in Stryker by 57.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,091 shares of the medical technology company’s stock valued at $711,000 after buying an additional 767 shares during the last quarter. Marcum Wealth LLC lifted its holdings in shares of Stryker by 4.1% during the 2nd quarter. Marcum Wealth LLC now owns 944 shares of the medical technology company’s stock valued at $321,000 after buying an additional 37 shares during the period. DNB Asset Management AS boosted its stake in shares of Stryker by 6.0% in the 2nd quarter. DNB Asset Management AS now owns 57,318 shares of the medical technology company’s stock worth $19,502,000 after buying an additional 3,253 shares during the last quarter. Finally, ST Germain D J Co. Inc. grew its holdings in shares of Stryker by 8.1% in the second quarter. ST Germain D J Co. Inc. now owns 2,152 shares of the medical technology company’s stock worth $732,000 after acquiring an additional 162 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,715,540. The trade was a 17.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,781 shares of company stock valued at $24,612,275 over the last 90 days. 5.90% of the stock is owned by corporate insiders.

Stryker Trading Up 1.0 %

Shares of SYK stock opened at $392.15 on Friday. 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 stock has a market capitalization of $149.50 billion, a price-to-earnings ratio of 42.03, a price-to-earnings-growth ratio of 2.96 and a beta of 0.91. Stryker Co. has a 12-month low of $285.79 and a 12-month high of $398.20. The stock’s 50-day moving average price is $368.51 and its 200-day moving average price is $351.60.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. The business 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 company’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.46 EPS. Equities research analysts predict that Stryker Co. will post 12.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SYK. Barclays raised their target price on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Robert W. Baird boosted their target price on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Wells Fargo & Company boosted their price objective on shares of Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Wolfe Research initiated coverage on Stryker in a report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price on the stock. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Stryker has an average rating of “Moderate Buy” and an average price target of $393.65.

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.