Sycomore Asset Management Sells 1,724 Shares of Stryker Co. (NYSE:SYK)

Sycomore Asset Management cut its holdings in Stryker Co. (NYSE:SYK) by 4.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,935 shares of the medical technology company’s stock after selling 1,724 shares during the period. Stryker comprises approximately 2.2% of Sycomore Asset Management’s portfolio, making the stock its 11th biggest holding. Sycomore Asset Management’s holdings in Stryker were worth $14,792,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SYK. Koshinski Asset Management Inc. bought a new position in Stryker in the first quarter valued at $795,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Stryker by 78.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock worth $45,260,000 after buying an additional 58,673 shares during the period. M&G Plc purchased a new position in shares of Stryker during the first quarter valued at approximately $11,534,000. OFI Invest Asset Management increased its position in shares of Stryker by 3,210.9% during the second quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company’s stock valued at $1,062,000 after acquiring an additional 3,243 shares in the last quarter. Finally, Tidal Investments LLC grew its position in Stryker by 14.2% in the 1st quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company’s stock worth $4,853,000 after purchasing an additional 1,681 shares during the period. 77.09% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction 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 directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,381 shares of company stock valued at $24,825,275. Insiders own 5.90% of the company’s stock.

Stryker Price Performance

Shares of SYK stock traded up $1.39 on Thursday, hitting $389.73. 635,372 shares of the company’s stock were exchanged, compared to its average volume of 1,254,089. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The stock has a market cap of $148.57 billion, a P/E ratio of 41.62, a price-to-earnings-growth ratio of 2.92 and a beta of 0.91. Stryker Co. has a 12 month low of $282.35 and a 12 month high of $392.70. The company has a 50 day moving average of $362.94 and a 200 day moving average of $346.72.

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

Analyst Upgrades and Downgrades

SYK has been the topic of a number of analyst reports. Royal Bank of Canada lifted their target price on shares of Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a report on Thursday. Robert W. Baird upped their target price on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. BTIG Research upped their target price on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Evercore ISI raised their target price on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

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.