Patton Albertson Miller Group LLC Has $7.43 Million Holdings in Stryker Co. (NYSE:SYK)

Patton Albertson Miller Group LLC reduced its stake in shares of Stryker Co. (NYSE:SYK) by 2.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 20,577 shares of the medical technology company’s stock after selling 463 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Stryker were worth $7,434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of SYK. Mount Yale Investment Advisors LLC bought a new stake in Stryker in the 1st quarter valued at $305,000. Bayesian Capital Management LP bought a new stake in Stryker in the 1st quarter valued at $895,000. Kennedy Capital Management LLC bought a new stake in shares of Stryker in the 1st quarter worth about $957,000. Tidal Investments LLC grew its holdings in shares of Stryker by 14.2% in the 1st quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company’s stock worth $4,853,000 after purchasing an additional 1,681 shares during the last quarter. Finally, Coppell Advisory Solutions Corp. bought a new stake in shares of Stryker in the 1st quarter worth about $414,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SYK shares. Canaccord Genuity Group upped their target price on shares of Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Robert W. Baird upped their target price on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Barclays upped their target price on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Stifel Nicolaus decreased their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, Evercore ISI increased their price objective on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $393.65.

Insider Buying and Selling at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction on 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 sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction 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 directly owns 10,042 shares of the company’s stock, valued at $3,715,540. This represents a 17.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,781 shares of company stock valued at $24,612,275 in the last quarter. 5.50% of the stock is currently owned by insiders.

Stryker Price Performance

NYSE SYK opened at $384.63 on Tuesday. The stock has a market cap of $146.63 billion, a price-to-earnings ratio of 41.23, a PEG ratio of 2.90 and a beta of 0.91. Stryker Co. has a 52-week low of $285.79 and a 52-week high of $398.20. The business has a 50 day simple moving average of $366.45 and a 200 day simple moving average of $350.00. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91.

Stryker (NYSE:SYK) last released its 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 net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same period last year, the business earned $2.46 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. Analysts anticipate 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.