Ferguson Wellman Capital Management Inc. Sells 478 Shares of Stryker Co. (NYSE:SYK)

Ferguson Wellman Capital Management Inc. reduced its stake in Stryker Co. (NYSE:SYK) by 0.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,063 shares of the medical technology company’s stock after selling 478 shares during the quarter. Stryker accounts for 1.2% of Ferguson Wellman Capital Management Inc.’s portfolio, making the stock its 24th largest position. Ferguson Wellman Capital Management Inc.’s holdings in Stryker were worth $62,159,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Centennial Bank AR boosted its position in shares of Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares during the period. Hara Capital LLC bought a new stake in Stryker in the 3rd quarter valued at approximately $42,000. HBW Advisory Services LLC acquired a new position in Stryker during the 3rd quarter worth approximately $42,000. Grove Bank & Trust grew its stake in shares of Stryker by 84.8% during the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after acquiring an additional 56 shares in the last quarter. Finally, DT Investment Partners LLC raised its holdings in shares of Stryker by 114.3% in the third quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock valued at $49,000 after purchasing an additional 72 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Trading Up 0.3 %

Shares of NYSE:SYK traded up $1.02 during mid-day trading on Thursday, reaching $389.36. 10,267 shares of the company’s stock were exchanged, compared to its average volume of 1,251,260. The firm has a market capitalization of $148.43 billion, a price-to-earnings ratio of 41.62, a PEG ratio of 2.92 and a beta of 0.91. Stryker Co. has a twelve month low of $282.35 and a twelve month high of $392.09. The business’s fifty day moving average price is $362.94 and its 200-day moving average price is $346.72. 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 (NYSE:SYK) last posted 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. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same period in the prior year, the firm posted $2.46 EPS. The company’s quarterly revenue was up 11.9% on a year-over-year basis. On average, research analysts predict that Stryker Co. will post 12.06 EPS for the current fiscal year.

Analysts Set New Price Targets

SYK has been the subject of several recent research reports. BTIG Research increased 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. Wells Fargo & Company raised their price objective on Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Truist Financial upped their target price on Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Evercore ISI raised their price target on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler reiterated an “overweight” rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $393.65.

Insider Activity

In other news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction dated 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 transaction, the chief executive officer now 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 document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Viju Menon sold 600 shares of Stryker stock in a transaction that occurred 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 transaction, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction dated 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 approximately $36,879,954.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,381 shares of company stock worth $24,825,275 in the last quarter. 5.90% of the stock is owned by corporate insiders.

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.