Stryker Co. (NYSE:SYK) Shares Sold by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 0.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,938 shares of the medical technology company’s stock after selling 43 shares during the period. Stryker comprises 2.0% of Penobscot Investment Management Company Inc.’s investment portfolio, making the stock its 10th biggest holding. Penobscot Investment Management Company Inc.’s holdings in Stryker were worth $11,879,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Tekla Capital Management LLC increased its holdings in Stryker by 13.3% in the second quarter. Tekla Capital Management LLC now owns 81,128 shares of the medical technology company’s stock valued at $24,751,000 after buying an additional 9,550 shares in the last quarter. Beverly Hills Private Wealth LLC increased its stake in Stryker by 10.3% in the 2nd quarter. Beverly Hills Private Wealth LLC now owns 962 shares of the medical technology company’s stock valued at $273,000 after purchasing an additional 90 shares in the last quarter. EULAV Asset Management raised its holdings in Stryker by 16.2% during the second quarter. EULAV Asset Management now owns 39,944 shares of the medical technology company’s stock worth $12,187,000 after purchasing an additional 5,573 shares during the last quarter. Cetera Investment Advisers raised its holdings in Stryker by 4.1% during the second quarter. Cetera Investment Advisers now owns 28,141 shares of the medical technology company’s stock worth $8,585,000 after purchasing an additional 1,116 shares during the last quarter. Finally, Humankind Investments LLC boosted its position in Stryker by 141.4% during the second quarter. Humankind Investments LLC now owns 3,775 shares of the medical technology company’s stock worth $524,000 after purchasing an additional 2,211 shares in the last quarter. 76.24% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Trading Up 0.8 %

Shares of NYSE SYK traded up $2.38 during trading on Wednesday, hitting $285.41. 105,456 shares of the company traded hands, compared to its average volume of 1,384,568. The company has a quick ratio of 0.83, a current ratio of 1.48 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $108.42 billion, a P/E ratio of 41.98, a P/E/G ratio of 2.69 and a beta of 0.94. The company has a 50-day moving average price of $275.16 and a 200-day moving average price of $282.56. Stryker Co. has a 1 year low of $216.55 and a 1 year high of $306.93.

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SYK shares. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research note on Monday, November 6th. UBS Group upped their price target on shares of Stryker from $289.00 to $297.00 and gave the company a “neutral” rating in a report on Thursday, November 9th. Barclays raised their price objective on shares of Stryker from $321.00 to $335.00 and gave the stock an “overweight” rating in a research note on Monday, August 7th. 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. Finally, Roth Mkm reissued a “buy” rating and set a $345.00 price target on shares of Stryker in a research report on Thursday, November 9th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average target price of $311.30.

Insider Buying and Selling

In other news, insider Viju Menon sold 5,000 shares of the company’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $289.00, for a total value of $1,445,000.00. Following the completion of the sale, the insider now owns 6,994 shares of the company’s stock, valued at $2,021,266. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.90% of the stock is owned by corporate insiders.

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.