Glen Eagle Advisors LLC Cuts Stock Position in Stryker Co. (NYSE:SYK)

Glen Eagle Advisors LLC decreased its position in shares of Stryker Co. (NYSE:SYK) by 5.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,541 shares of the medical technology company’s stock after selling 359 shares during the period. Glen Eagle Advisors LLC’s holdings in Stryker were worth $2,363,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Stryker by 78.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock valued at $45,260,000 after acquiring an additional 58,673 shares in the last quarter. OFI Invest Asset Management increased its stake in Stryker by 3,210.9% during the 2nd quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company’s stock valued at $1,062,000 after purchasing an additional 3,243 shares in the last quarter. Baltimore Washington Financial Advisors Inc. raised its holdings in shares of Stryker by 2.4% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 66,681 shares of the medical technology company’s stock worth $24,089,000 after buying an additional 1,554 shares during the last quarter. Sivik Global Healthcare LLC lifted its stake in shares of Stryker by 8.0% during the third quarter. Sivik Global Healthcare LLC now owns 27,000 shares of the medical technology company’s stock worth $9,754,000 after buying an additional 2,000 shares during the period. Finally, Parnassus Investments LLC purchased a new stake in shares of Stryker during the third quarter valued at $762,798,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Royal Bank of Canada raised their price objective on Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group boosted their target price on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Truist Financial increased their price target on Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Citigroup boosted their price objective on Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Barclays lifted their price objective on shares of Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $398.40.

Insider Transactions at Stryker

In other news, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction on 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 sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. The trade was a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 66,781 shares of company stock worth $24,612,275. 5.90% of the stock is currently owned by company insiders.

Stryker Price Performance

NYSE:SYK opened at $384.98 on Friday. The stock has a 50 day moving average price of $370.60 and a 200 day moving average price of $352.99. The stock has a market cap of $146.76 billion, a PE ratio of 41.26, a P/E/G ratio of 2.94 and a beta of 0.94. 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 one year low of $285.79 and a one year high of $398.20.

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

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.