Mendel Capital Management LLC Cuts Stock Position in Stryker Co. (NYSE:SYK)

Mendel Capital Management LLC cut its holdings in Stryker Co. (NYSE:SYK) by 4.5% in the third quarter, HoldingsChannel reports. The firm owned 4,793 shares of the medical technology company’s stock after selling 224 shares during the quarter. Stryker accounts for 1.1% of Mendel Capital Management LLC’s portfolio, making the stock its 18th largest position. Mendel Capital Management LLC’s holdings in Stryker were worth $1,731,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Clearbridge Investments LLC grew its holdings in shares of Stryker by 2.9% in the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock valued at $790,554,000 after purchasing an additional 66,482 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Stryker by 4.0% during the second quarter. The Manufacturers Life Insurance Company now owns 1,209,769 shares of the medical technology company’s stock worth $411,624,000 after buying an additional 46,375 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in Stryker by 2.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,143,573 shares of the medical technology company’s stock worth $413,127,000 after buying an additional 32,491 shares during the period. Swiss National Bank boosted its stake in Stryker by 0.4% during the third quarter. Swiss National Bank now owns 1,017,600 shares of the medical technology company’s stock worth $367,618,000 after buying an additional 4,300 shares during the period. Finally, 1832 Asset Management L.P. boosted its stake in Stryker by 146.9% during the first quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock worth $314,449,000 after buying an additional 522,817 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Performance

Shares of Stryker stock opened at $390.08 on Monday. The company has a market capitalization of $148.71 billion, a PE ratio of 41.81, a P/E/G ratio of 2.94 and a beta of 0.91. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The company has a 50-day simple moving average of $364.07 and a two-hundred day simple moving average of $347.54. Stryker Co. has a one year low of $282.35 and a one year high of $392.70.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the previous year, the firm earned $2.46 earnings per share. The company’s revenue was up 11.9% on a year-over-year basis. Research analysts expect that Stryker Co. will post 12.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SYK has been the subject of several recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price objective (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Robert W. Baird lifted their price objective 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. JPMorgan Chase & Co. lifted their price objective on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Stifel Nicolaus lowered their target price on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, Citigroup boosted their target price on shares of Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Insider Activity at Stryker

In related news, insider Viju Menon sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now owns 9,069 shares in the company, valued at $3,219,495. This represents a 6.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. This represents a 17.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,381 shares of company stock worth $24,825,275 over the last quarter. Insiders own 5.50% of the company’s stock.

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.