Apollon Wealth Management LLC Sells 378 Shares of Stryker Co. (NYSE:SYK)

Apollon Wealth Management LLC trimmed its position in shares of Stryker Co. (NYSE:SYK) by 4.3% in the third quarter, Holdings Channel reports. The fund owned 8,338 shares of the medical technology company’s stock after selling 378 shares during the quarter. Apollon Wealth Management LLC’s holdings in Stryker were worth $3,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in SYK. Centennial Bank AR increased its position in Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares during the period. HBW Advisory Services LLC bought a new position in Stryker during the third quarter worth $42,000. Hara Capital LLC acquired a new position in Stryker during the 3rd quarter valued at $42,000. Grove Bank & Trust boosted its holdings in Stryker by 84.8% in the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after purchasing an additional 56 shares during the period. Finally, DT Investment Partners LLC grew its position 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 purchasing an additional 72 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Royal Bank of Canada upped their price objective on shares of Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Citigroup lifted their price objective on Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. BTIG Research upped their target price on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Stifel Nicolaus lowered their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Stock Up 2.2 %

Shares of NYSE SYK opened at $387.11 on Wednesday. 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 market cap of $147.57 billion, a price-to-earnings ratio of 41.49, a price-to-earnings-growth ratio of 2.86 and a beta of 0.91. Stryker Co. has a 12-month low of $276.60 and a 12-month high of $388.12. The firm’s 50-day simple moving average is $361.83 and its 200 day simple moving average is $346.06.

Stryker (NYSE:SYK) last released its quarterly earnings results 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. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the prior year, the firm earned $2.46 earnings per share. Stryker’s revenue was up 11.9% compared to the same quarter last year. On average, research analysts expect that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Insider Transactions at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction on 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 sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,381 shares of company stock worth $24,825,275 over the last 90 days. 5.50% of the stock is owned by insiders.

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.