Impax Asset Management Group plc Lowers Stock Position in Stryker Co. (NYSE:SYK)

Impax Asset Management Group plc cut its position in shares of Stryker Co. (NYSE:SYK) by 3.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,622 shares of the medical technology company’s stock after selling 243 shares during the quarter. Impax Asset Management Group plc’s holdings in Stryker were worth $2,392,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Centennial Bank AR grew its position in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 48 shares during the period. HBW Advisory Services LLC bought a new stake in shares of Stryker in the third quarter valued at $42,000. Hara Capital LLC purchased a new position in shares of Stryker during the 3rd quarter valued at $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 during the period. Finally, DT Investment Partners LLC increased its holdings in Stryker by 114.3% in the 3rd quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock worth $49,000 after acquiring an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Transactions at Stryker

In other news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were 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 approximately $3,219,495. This trade represents a 6.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kevin Lobo sold 57,313 shares of the business’s 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 in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,381 shares of company stock worth $24,825,275. 5.90% of the stock is currently owned by insiders.

Stryker Trading Up 1.8 %

NYSE:SYK opened at $390.08 on Friday. The firm has a market capitalization of $148.71 billion, a P/E ratio of 41.81, a P/E/G ratio of 2.94 and a beta of 0.91. Stryker Co. has a 52 week low of $282.35 and a 52 week high of $392.70. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The company has a fifty day moving average of $364.07 and a 200 day moving average of $347.40.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on SYK. Evercore ISI upped their price objective on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Citigroup upped their price target 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. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Thursday. Piper Sandler reissued an “overweight” rating and set a $420.00 target price (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Finally, Robert W. Baird raised their price target on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $393.65.

About Stryker

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.