Pitcairn Co. Reduces Stake in Stryker Co. (NYSE:SYK)

Pitcairn Co. reduced its position in Stryker Co. (NYSE:SYK) by 9.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,689 shares of the medical technology company’s stock after selling 1,053 shares during the period. Pitcairn Co.’s holdings in Stryker were worth $3,862,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Patrick M Sweeney & Associates Inc. increased its stake in Stryker by 1.5% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock valued at $793,000 after purchasing an additional 32 shares in the last quarter. Versant Capital Management Inc increased its stake in Stryker by 4.0% in the 2nd quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock valued at $294,000 after purchasing an additional 33 shares in the last quarter. Stanley Laman Group Ltd. grew its holdings in Stryker by 4.6% during the 2nd quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock valued at $256,000 after buying an additional 33 shares during the last quarter. Plimoth Trust Co. LLC grew its holdings in Stryker by 0.3% during the 2nd quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock valued at $3,224,000 after buying an additional 33 shares during the last quarter. Finally, Grimes & Company Inc. grew its holdings in Stryker by 0.4% during the 3rd quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock valued at $2,977,000 after buying an additional 33 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Down 1.3 %

Shares of NYSE SYK opened at $384.88 on Friday. 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 firm has a market cap of $146.72 billion, a price-to-earnings ratio of 41.25, a PEG ratio of 2.94 and a beta of 0.91. Stryker Co. has a 1 year low of $285.79 and a 1 year high of $398.20. The stock’s 50-day simple moving average is $366.20 and its 200-day simple moving average is $349.36.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SYK shares. Truist Financial raised their price objective on Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Evercore ISI lifted their target price on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and issued a $420.00 price objective (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Finally, Robert W. Baird raised their price objective on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and an average target price of $393.65.

Insider Buying and Selling at Stryker

In other news, VP M Kathryn Fink sold 2,121 shares of the business’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 transaction of $784,770.00. Following the completion of the transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. The trade was a 17.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This represents a 6.21 % 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 ninety days. Company insiders own 5.90% of the company’s stock.

Stryker Company 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.