Concentric Wealth Management LLC Has $5.89 Million Position in Stryker Co. (NYSE:SYK)

Concentric Wealth Management LLC trimmed its position in Stryker Co. (NYSE:SYK) by 2.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,315 shares of the medical technology company’s stock after selling 410 shares during the quarter. Stryker accounts for 1.4% of Concentric Wealth Management LLC’s holdings, making the stock its 24th biggest holding. Concentric Wealth Management LLC’s holdings in Stryker were worth $5,894,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SYK. Centennial Bank AR raised its holdings in Stryker by 106.7% in 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 in the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Stryker during the third quarter worth about $36,000. Hara Capital LLC acquired a new position in shares of Stryker in the third quarter valued at approximately $42,000. HBW Advisory Services LLC bought a new position in Stryker in the 3rd quarter valued at approximately $42,000. Finally, Grove Bank & Trust boosted its position in 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 buying an additional 56 shares during the period. Institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling

In other news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction on Thursday, November 7th. The stock was 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 of the company’s stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction dated 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 transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,381 shares of company stock valued at $24,825,275 over the last three months. Corporate insiders own 5.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Evercore ISI boosted 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. Wolfe Research initiated coverage on Stryker in a report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price on the stock. Canaccord Genuity Group upped their price objective on shares of Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Robert W. Baird boosted their price target on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company boosted their target price on Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $393.65.

Stryker Stock Performance

Shares of NYSE:SYK opened at $384.85 on Monday. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The company has a market cap of $146.71 billion, a price-to-earnings ratio of 41.25, a price-to-earnings-growth ratio of 2.90 and a beta of 0.91. Stryker Co. has a 12 month low of $285.79 and a 12 month high of $398.20. The company has a 50-day moving average price of $366.20 and a 200-day moving average price of $349.63.

Stryker (NYSE:SYK) last announced its earnings results 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. The company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.46 earnings per share. As a group, equities analysts anticipate that Stryker Co. will post 12.06 EPS for the current year.

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.