Varma Mutual Pension Insurance Co Has $8.95 Million Stock Position in Stryker Co. (NYSE:SYK)

Varma Mutual Pension Insurance Co cut its holdings in Stryker Co. (NYSE:SYKGet Rating) by 21.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,000 shares of the medical technology company’s stock after selling 12,488 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Stryker were worth $8,951,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. First Interstate Bank acquired a new stake in Stryker in the second quarter valued at about $435,000. Claro Advisors LLC boosted its stake in Stryker by 36.8% in the second quarter. Claro Advisors LLC now owns 3,310 shares of the medical technology company’s stock valued at $658,000 after buying an additional 891 shares in the last quarter. Prudential PLC boosted its stake in Stryker by 3.3% in the second quarter. Prudential PLC now owns 5,580 shares of the medical technology company’s stock valued at $1,110,000 after buying an additional 177 shares in the last quarter. MayTech Global Investments LLC boosted its stake in Stryker by 0.8% in the second quarter. MayTech Global Investments LLC now owns 26,952 shares of the medical technology company’s stock valued at $5,361,000 after buying an additional 214 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in Stryker in the second quarter valued at about $11,364,000. 76.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on the company. Truist Financial increased their target price on Stryker to $230.00 in a research report on Friday, November 4th. Jefferies Financial Group assumed coverage on Stryker in a research report on Wednesday, October 12th. They issued a “buy” rating and a $270.00 target price for the company. Canaccord Genuity Group downgraded Stryker from a “buy” rating to a “hold” rating and dropped their target price for the company from $225.00 to $220.00 in a research report on Tuesday, November 1st. Royal Bank of Canada dropped their target price on Stryker from $255.00 to $240.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 1st. Finally, Barclays assumed coverage on Stryker in a research report on Monday, October 17th. They issued an “overweight” rating and a $239.00 target price for the company. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $247.74.

Stryker Trading Up 1.7 %

NYSE SYK traded up $3.77 during trading hours on Thursday, hitting $230.29. 1,095,581 shares of the company’s stock were exchanged, compared to its average volume of 1,776,545. The stock has a 50-day simple moving average of $215.86 and a 200 day simple moving average of $214.51. Stryker Co. has a 1-year low of $188.84 and a 1-year high of $280.43. The firm has a market cap of $87.15 billion, a price-to-earnings ratio of 35.81, a PEG ratio of 2.80 and a beta of 0.99. The company has a current ratio of 2.04, a quick ratio of 1.19 and a debt-to-equity ratio of 0.77.

Stryker (NYSE:SYKGet Rating) last announced its quarterly earnings data on Monday, October 31st. The medical technology company reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.11). Stryker had a net margin of 13.69% and a return on equity of 22.27%. The firm had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same period last year, the business posted $2.20 EPS. The company’s revenue was up 7.7% on a year-over-year basis. On average, equities analysts forecast that Stryker Co. will post 9.17 EPS for the current fiscal year.

Insider Buying and Selling at Stryker

In other Stryker news, Director Srikant M. Datar sold 300 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $212.36, for a total value of $63,708.00. Following the completion of the sale, the director now owns 4,861 shares of the company’s stock, valued at $1,032,281.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Stryker news, VP M Kathryn Fink sold 340 shares of the firm’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $219.68, for a total value of $74,691.20. Following the completion of the sale, the vice president now owns 12,774 shares of the company’s stock, valued at $2,806,192.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Srikant M. Datar sold 300 shares of Stryker stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $212.36, for a total value of $63,708.00. Following the transaction, the director now directly owns 4,861 shares in the company, valued at approximately $1,032,281.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,240 shares of company stock valued at $268,425. Company insiders own 6.70% of the company’s stock.

About Stryker

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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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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