Stryker Co. (NYSE:SYK) Shares Sold by GLOBALT Investments LLC GA

GLOBALT Investments LLC GA trimmed its position in shares of Stryker Co. (NYSE:SYK) by 1.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,872 shares of the medical technology company’s stock after selling 217 shares during the period. GLOBALT Investments LLC GA’s holdings in Stryker were worth $5,373,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Clearbridge Investments LLC grew its holdings in Stryker by 2.9% in the 2nd quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock worth $790,554,000 after buying an additional 66,482 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Stryker by 4.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,209,769 shares of the medical technology company’s stock worth $411,624,000 after acquiring an additional 46,375 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Stryker by 2.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,143,573 shares of the medical technology company’s stock worth $413,127,000 after purchasing an additional 32,491 shares in the last quarter. Swiss National Bank increased its holdings in shares of Stryker by 0.4% during the third quarter. Swiss National Bank now owns 1,017,600 shares of the medical technology company’s stock valued at $367,618,000 after purchasing an additional 4,300 shares during the period. Finally, 1832 Asset Management L.P. raised its stake in shares of Stryker by 146.9% during the first quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock valued at $314,449,000 after purchasing an additional 522,817 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of recent analyst reports. Citigroup increased their target price on shares of Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Stifel Nicolaus lowered their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. UBS Group upped their target price on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and issued a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Finally, Evercore ISI raised their target price on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $393.65.

Insider Activity at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,685,213.16. This trade represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,381 shares of company stock valued at $24,825,275. Insiders own 5.50% of the company’s stock.

Stryker Price Performance

NYSE SYK opened at $390.08 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The firm has a market capitalization of $148.71 billion, a price-to-earnings ratio of 41.81, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. The company has a 50 day simple moving average of $364.07 and a 200-day simple moving average of $347.54. Stryker Co. has a 52-week low of $282.35 and a 52-week high of $392.70.

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