Martingale Asset Management L P Has $1.89 Million Stock Position in Stryker Co. (NYSE:SYK)

Martingale Asset Management L P lessened its holdings in shares of Stryker Co. (NYSE:SYK) by 7.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,228 shares of the medical technology company’s stock after selling 433 shares during the period. Martingale Asset Management L P’s holdings in Stryker were worth $1,889,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Avestar Capital LLC grew its position in shares of Stryker by 1.1% in the 3rd quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock valued at $1,065,000 after buying an additional 31 shares during the last quarter. Patrick M Sweeney & Associates Inc. increased its position in Stryker by 1.5% during 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 during the period. Stanley Laman Group Ltd. raised 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 worth $256,000 after purchasing an additional 33 shares during the last quarter. Plimoth Trust Co. LLC lifted its position in shares of Stryker by 0.3% in the 2nd quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock worth $3,224,000 after purchasing an additional 33 shares during the period. Finally, Grimes & Company Inc. boosted its stake in shares of Stryker by 0.4% in the 3rd quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock valued at $2,977,000 after purchasing an additional 33 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of SYK stock opened at $392.15 on Friday. The stock has a market capitalization of $149.50 billion, a P/E ratio of 42.03, a PEG ratio of 2.96 and a beta of 0.91. The firm’s 50 day moving average is $368.51 and its 200 day moving average is $351.60. Stryker Co. has a 12 month low of $285.79 and a 12 month high of $398.20. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last released its quarterly earnings results 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. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter last year, the firm posted $2.46 EPS. The company’s revenue was up 11.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current year.

Insider Activity

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total value 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. This represents a 17.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,781 shares of company stock valued at $24,612,275. 5.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SYK shares. Wells Fargo & Company lifted their target price on shares of Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research note on Friday, November 22nd. Needham & Company LLC raised their target price on Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Evercore ISI boosted their price target on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.