Stryker Co. (NYSE:SYK) Shares Sold by Parsons Capital Management Inc. RI


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Parsons Capital Management Inc. RI reduced its position in shares of Stryker Co. (NYSE:SYK) by 0.9% during the first quarter, Holdings Channel.com reports. The fund owned 6,705 shares of the medical technology company’s stock after selling 61 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Stryker were worth $1,633,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Liberty Capital Management Inc. grew its holdings in Stryker by 10.7% during the first quarter. Liberty Capital Management Inc. now owns 8,319 shares of the medical technology company’s stock worth $2,026,000 after acquiring an additional 805 shares during the period. Sawtooth Solutions LLC grew its holdings in Stryker by 14.9% during the fourth quarter. Sawtooth Solutions LLC now owns 10,008 shares of the medical technology company’s stock worth $2,452,000 after acquiring an additional 1,300 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in Stryker by 1.0% during the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,339,824 shares of the medical technology company’s stock worth $328,311,000 after acquiring an additional 13,604 shares during the period. Dupont Capital Management Corp acquired a new position in Stryker during the fourth quarter worth about $4,885,000. Finally, Public Employees Retirement System of Ohio grew its holdings in Stryker by 7.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 203,242 shares of the medical technology company’s stock worth $49,802,000 after acquiring an additional 14,117 shares during the period. 71.46% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CFO Glenn S. Boehnlein sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 1st. The stock was sold at an average price of $246.01, for a total value of $492,020.00. Following the completion of the sale, the chief financial officer now directly owns 12,321 shares in the company, valued at approximately $3,031,089.21. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP M Kathryn Fink sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, April 8th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by insiders.

Shares of Stryker stock opened at $263.10 on Tuesday. The firm has a market cap of $99.12 billion, a price-to-earnings ratio of 57.07, a P/E/G ratio of 2.79 and a beta of 0.87. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.89 and a quick ratio of 2.15. Stryker Co. has a 52-week low of $171.75 and a 52-week high of $268.04. The stock has a 50-day simple moving average of $249.13 and a 200-day simple moving average of $238.13.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Monday, April 26th. The medical technology company reported $1.93 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.99 by ($0.06). The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.94 billion. Stryker had a net margin of 12.35% and a return on equity of 20.94%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.84 earnings per share. As a group, equities research analysts predict that Stryker Co. will post 7.18 earnings per share for the current year.

A number of brokerages recently weighed in on SYK. Raymond James lifted their price target on Stryker from $255.00 to $290.00 and gave the stock an “outperform” rating in a research note on Tuesday. Truist lifted their price target on Stryker from $245.00 to $255.00 in a research note on Wednesday, April 28th. Guggenheim began coverage on Stryker in a research note on Monday, January 4th. They issued a “neutral” rating on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on Stryker from $264.00 to $303.00 in a research note on Wednesday, April 28th. Finally, Canaccord Genuity lifted their price target on Stryker from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. Stryker presently has a consensus rating of “Buy” and an average target price of $261.59.

Stryker Profile

Stryker Corp. engages in the provision of medical technology products and services. It operates through the following segments: Orthopaedics, MedSurg and Neurotechnology and Spine. The Orthopaedics segment provides reconstructive and trauma implant systems. The MedSurg segment deals with surgical equipment and navigation systems, endoscopy, patient handling and reprocessed medical devices.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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