Linscomb Wealth Inc. Decreases Stock Position in Stryker Co. (NYSE:SYK)

Linscomb Wealth Inc. trimmed its position in shares of Stryker Co. (NYSE:SYK) by 2.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,692 shares of the medical technology company’s stock after selling 336 shares during the quarter. Linscomb Wealth Inc.’s holdings in Stryker were worth $5,669,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SYK. Patrick M Sweeney & Associates Inc. boosted its stake in shares of Stryker by 1.5% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock valued at $793,000 after purchasing an additional 32 shares in the last quarter. Versant Capital Management Inc raised its holdings in Stryker by 4.0% in the second quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock worth $294,000 after purchasing an additional 33 shares in the last quarter. Stanley Laman Group Ltd. boosted its holdings in shares of Stryker by 4.6% in the 2nd quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock valued at $256,000 after buying an additional 33 shares in the last quarter. Plimoth Trust Co. LLC grew its position in shares of Stryker by 0.3% in the 2nd quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock worth $3,224,000 after buying an additional 33 shares during the last quarter. Finally, Grimes & Company Inc. raised its stake in shares of Stryker by 0.4% during the 3rd quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock worth $2,977,000 after acquiring an additional 33 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The trade was 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 through this link. Also, CEO Kevin Lobo sold 57,313 shares of the company’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 value of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have 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 NYSE:SYK traded up $7.55 during midday trading on Friday, hitting $390.83. The company’s stock had a trading volume of 503,943 shares, compared to its average volume of 1,256,009. 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 market cap of $148.99 billion, a P/E ratio of 41.26, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91. The business’s 50 day simple moving average is $363.45 and its 200 day simple moving average is $346.97. Stryker Co. has a 12-month low of $282.35 and a 12-month high of $392.70.

Stryker (NYSE:SYK) last issued its 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 firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter last year, the company earned $2.46 earnings per share. The firm’s revenue was up 11.9% compared to the same quarter last year. On average, analysts forecast that Stryker Co. will post 12.06 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on SYK. Citigroup upped their target price on Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Wells Fargo & Company raised their price target on shares of Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. BTIG Research raised their target price on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. UBS Group increased their price objective on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Stifel Nicolaus decreased their target price on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.