Stryker Co. (NYSE:SYK) Shares Sold by Sheets Smith Wealth Management

Sheets Smith Wealth Management lowered its position in shares of Stryker Co. (NYSE:SYK) by 2.3% during the third quarter, Holdings Channel reports. The firm owned 4,770 shares of the medical technology company’s stock after selling 114 shares during the quarter. Sheets Smith Wealth Management’s holdings in Stryker were worth $1,723,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in SYK. Koshinski Asset Management Inc. acquired a new stake in shares of Stryker in the first quarter valued at approximately $795,000. Wealth Enhancement Advisory Services LLC grew its position in Stryker by 78.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock worth $45,260,000 after purchasing an additional 58,673 shares during the last quarter. M&G Plc acquired a new position in Stryker in the first quarter valued at $11,534,000. OFI Invest Asset Management raised its holdings in shares of Stryker by 3,210.9% in 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 boosted its stake in shares of Stryker by 14.2% during the first quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company’s stock worth $4,853,000 after buying an additional 1,681 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the 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 sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at $36,879,954.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. Insiders sold a total of 67,381 shares of company stock valued at $24,825,275 over the last three months. 5.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on SYK shares. Citigroup upped their price objective on Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Wolfe Research initiated coverage on Stryker in a research note on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price target for the company. Piper Sandler reiterated 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. Morgan Stanley upped their price objective on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Finally, Evercore ISI boosted their price target on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Price Performance

Shares of NYSE SYK opened at $375.96 on Friday. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The stock has a market cap of $143.32 billion, a price-to-earnings ratio of 40.30, a PEG ratio of 2.83 and a beta of 0.91. The company’s 50-day moving average price is $361.46 and its 200 day moving average price is $345.63. Stryker Co. has a 52 week low of $266.93 and a 52 week high of $377.83.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS 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 for the quarter, compared to analyst estimates of $5.37 billion. During the same period in the prior year, the business earned $2.46 earnings per share. The company’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, research analysts forecast that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

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.