GraniteShares Advisors LLC Trims Stock Holdings in Stryker Co. (NYSE:SYK)

GraniteShares Advisors LLC trimmed its position in Stryker Co. (NYSE:SYK) by 4.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,070 shares of the medical technology company’s stock after selling 49 shares during the period. GraniteShares Advisors LLC’s holdings in Stryker were worth $326,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SYK. Fairfield Bush & CO. purchased a new stake in Stryker in the first quarter worth $131,000. Dimensional Fund Advisors LP lifted its holdings in Stryker by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 673,924 shares of the medical technology company’s stock valued at $180,182,000 after acquiring an additional 9,026 shares during the period. Prudential PLC bought a new position in Stryker in the first quarter valued at about $1,444,000. Sequoia Financial Advisors LLC lifted its holdings in Stryker by 21.6% in the first quarter. Sequoia Financial Advisors LLC now owns 3,056 shares of the medical technology company’s stock valued at $817,000 after acquiring an additional 543 shares during the period. Finally, Zions Bancorporation N.A. lifted its holdings in Stryker by 9.2% in the first quarter. Zions Bancorporation N.A. now owns 3,140 shares of the medical technology company’s stock valued at $839,000 after acquiring an additional 265 shares during the period. 76.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Stryker

In related news, insider Viju Menon sold 5,000 shares of the firm’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $289.00, for a total value of $1,445,000.00. Following the completion of the transaction, the insider now directly owns 6,994 shares of the company’s stock, valued at $2,021,266. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 5.90% of the stock is currently owned by insiders.

Stryker Trading Up 0.4 %

Stryker stock opened at $283.03 on Wednesday. The stock has a market cap of $107.52 billion, a P/E ratio of 41.98, a PEG ratio of 2.69 and a beta of 0.94. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.48 and a quick ratio of 0.83. Stryker Co. has a 1 year low of $216.55 and a 1 year high of $306.93. The firm’s 50 day moving average price is $275.16 and its 200-day moving average price is $282.56.

Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, November 2nd. The medical technology company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.03. Stryker had a net margin of 13.00% and a return on equity of 22.62%. The firm had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter last year, the business posted $2.12 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities analysts predict that Stryker Co. will post 10.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SYK has been the topic of a number of recent research reports. Morgan Stanley increased their target price on Stryker from $295.00 to $300.00 and gave the company an “equal weight” rating in a report on Monday, August 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $325.00 target price on shares of Stryker in a report on Thursday, August 17th. Citigroup reduced their price target on Stryker from $342.00 to $330.00 and set a “buy” rating for the company in a research report on Monday, October 2nd. Truist Financial boosted their price objective on Stryker from $270.00 to $300.00 and gave the company a “hold” rating in a research note on Monday, November 6th. Finally, Bank of America upgraded shares of Stryker from a “neutral” rating to a “buy” rating and raised their target price for the stock from $310.00 to $315.00 in a research note on Tuesday, September 5th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and an average price target of $311.30.

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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.