Pinnacle Financial Partners Inc Sells 820 Shares of Stryker Co. (NYSE:SYK)

Pinnacle Financial Partners Inc lessened its stake in Stryker Co. (NYSE:SYK) by 10.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,711 shares of the medical technology company’s stock after selling 820 shares during the period. Pinnacle Financial Partners Inc’s holdings in Stryker were worth $2,424,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Koshinski Asset Management Inc. purchased a new stake in Stryker during the first quarter valued at $795,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Stryker by 78.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock worth $45,260,000 after buying an additional 58,673 shares during the last quarter. M&G Plc bought a new stake in Stryker during the first quarter valued at approximately $11,534,000. OFI Invest Asset Management increased its holdings in Stryker by 3,210.9% during the second quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company’s stock valued at $1,062,000 after buying an additional 3,243 shares during the last quarter. Finally, Tidal Investments LLC raised its position in Stryker by 14.2% in the first quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company’s stock worth $4,853,000 after acquiring an additional 1,681 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Price Performance

Stryker stock opened at $388.34 on Thursday. Stryker Co. has a 52-week low of $282.35 and a 52-week high of $390.59. The company has a market cap of $148.04 billion, a price-to-earnings ratio of 41.62, a PEG ratio of 2.92 and a beta of 0.91. The firm’s fifty day moving average is $362.38 and its 200 day moving average is $346.42. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating 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 firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter last year, the firm earned $2.46 EPS. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. Sell-side analysts forecast that Stryker Co. will post 12.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at approximately $3,685,213.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Stryker news, insider Viju Menon sold 600 shares of the stock in a transaction 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 sale, the insider now owns 9,069 shares in the company, valued at $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction dated 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 completion of the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,685,213.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,381 shares of company stock valued at $24,825,275 over the last three months. 5.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SYK has been the subject of several analyst reports. Wolfe Research started coverage on Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price objective for the company. BTIG Research lifted their price objective on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Citigroup increased their target price on shares of Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Barclays lifted their price target on shares of Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, UBS Group raised their price objective on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $393.65.

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.