Mizuho Securities USA LLC Sells 3,909 Shares of Stryker Co. (NYSE:SYK)

Mizuho Securities USA LLC cut its stake in shares of Stryker Co. (NYSE:SYK) by 15.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,232 shares of the medical technology company’s stock after selling 3,909 shares during the quarter. Mizuho Securities USA LLC’s holdings in Stryker were worth $8,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Bessemer Group Inc. raised its stake in shares of Stryker by 100.4% during the first quarter. Bessemer Group Inc. now owns 18,267 shares of the medical technology company’s stock worth $6,538,000 after acquiring an additional 9,150 shares in the last quarter. CreativeOne Wealth LLC increased its stake in shares of Stryker by 55.7% in the first quarter. CreativeOne Wealth LLC now owns 1,924 shares of the medical technology company’s stock worth $688,000 after buying an additional 688 shares during the period. Axxcess Wealth Management LLC increased its stake in shares of Stryker by 2.9% in the first quarter. Axxcess Wealth Management LLC now owns 5,074 shares of the medical technology company’s stock worth $1,816,000 after buying an additional 143 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Stryker by 14.7% during the 1st quarter. Advisors Asset Management Inc. now owns 25,943 shares of the medical technology company’s stock valued at $9,284,000 after buying an additional 3,321 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Stryker by 19.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 458,277 shares of the medical technology company’s stock valued at $164,004,000 after buying an additional 74,471 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Performance

Shares of Stryker stock opened at $385.68 on Thursday. The company has a market capitalization of $147.03 billion, a PE ratio of 41.34, a P/E/G ratio of 2.93 and a beta of 0.91. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The company has a 50-day simple moving average of $365.46 and a two-hundred day simple moving average of $348.66. Stryker Co. has a one year low of $285.79 and a one year high of $398.20.

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

Insiders Place Their Bets

In related news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, the vice president now owns 10,042 shares in the company, valued at $3,715,540. This represents a 17.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Viju Menon sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. This represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,381 shares of company stock worth $24,825,275. 5.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SYK has been the topic of a number of analyst reports. Citigroup upped their price target on shares of Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Needham & Company LLC upped their price target on shares of Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and set a $420.00 target price (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Wells Fargo & Company upped their price target on shares of Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and an average price target of $393.65.

Stryker Profile

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.