Tradition Wealth Management LLC Decreases Stock Position in Stryker Co. (NYSE:SYK)

Tradition Wealth Management LLC lowered its stake in shares of Stryker Co. (NYSE:SYK) by 5.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 841 shares of the medical technology company’s stock after selling 44 shares during the quarter. Tradition Wealth Management LLC’s holdings in Stryker were worth $304,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Centennial Bank AR grew its position in Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the last quarter. Darwin Wealth Management LLC purchased a new stake in shares of Stryker during the third quarter valued at $36,000. HBW Advisory Services LLC acquired a new position in shares of Stryker in the 3rd quarter valued at $42,000. Hara Capital LLC purchased a new position in Stryker in the 3rd quarter worth $42,000. Finally, Grove Bank & Trust lifted its position in Stryker by 84.8% during the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after acquiring an additional 56 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Up 1.0 %

SYK stock opened at $392.15 on Monday. 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 Co. has a 52 week low of $285.79 and a 52 week high of $398.20. The stock has a market capitalization of $149.50 billion, a P/E ratio of 42.03, a P/E/G ratio of 2.96 and a beta of 0.94. The firm has a 50-day simple moving average of $368.51 and a 200-day simple moving average of $351.74.

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 return on equity of 23.07% and a net margin of 16.34%. The business had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter last year, the business posted $2.46 earnings per share. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. Equities analysts forecast that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on SYK. JPMorgan Chase & Co. raised their price objective on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Barclays raised their price target on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Wolfe Research initiated coverage on shares of Stryker in a report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price objective on the stock. StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a report on Friday, November 22nd. Finally, Royal Bank of Canada upped their price target on shares of Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $393.65.

Insiders Place Their Bets

In related news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the sale, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This represents a 42.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction dated Thursday, November 7th. The shares were 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. The trade was a 36.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,781 shares of company stock valued at $24,612,275 in the last 90 days. 5.50% of the stock is owned by insiders.

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.