Oppenheimer Asset Management Inc. Sells 1,119 Shares of Stryker Co. (NYSE:SYK)

Oppenheimer Asset Management Inc. reduced its stake in shares of Stryker Co. (NYSE:SYK) by 3.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,163 shares of the medical technology company’s stock after selling 1,119 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Stryker were worth $12,342,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its position in shares of Stryker by 66,967.5% in the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after acquiring an additional 852,496 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Stryker by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after purchasing an additional 813,311 shares in the last quarter. 1832 Asset Management L.P. lifted its position in Stryker by 146.9% in the first quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock worth $314,449,000 after purchasing an additional 522,817 shares during the period. American Century Companies Inc. boosted its stake in Stryker by 287.6% during the second quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock worth $172,033,000 after buying an additional 375,166 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Stryker by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock valued at $11,258,373,000 after buying an additional 309,592 shares during the period. 77.09% of the stock is owned by institutional investors.

Insider Activity at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was 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 directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. The trade was 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 accessible through the SEC website. In other Stryker news, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction dated 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 owns 10,042 shares of the company’s stock, valued at $3,715,540. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,381 shares of company stock worth $24,825,275 in the last quarter. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Shares of 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 debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The stock has a market capitalization 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 has a fifty day moving average of $362.38 and a two-hundred day moving average of $346.42.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business earned $2.46 earnings per share. The company’s revenue was up 11.9% compared to the same quarter last year. As a group, equities research analysts predict that Stryker Co. will post 12.06 EPS for the current year.

Analyst Upgrades and Downgrades

SYK has been the subject of several recent research reports. Citigroup increased their price target on shares of Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. BTIG Research raised their target price on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Truist Financial upped their price target on Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Needham & Company LLC upped their target price on shares of Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.