Cetera Advisors LLC lowered its stake in shares of Stryker Co. (NYSE:SYK – Free Report) by 3.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,223 shares of the medical technology company’s stock after selling 566 shares during the period. Cetera Advisors LLC’s holdings in Stryker were worth $4,339,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Freedom Wealth Alliance LLC acquired a new stake in shares of Stryker in the fourth quarter valued at approximately $26,000. Quarry LP acquired a new stake in Stryker during the 1st quarter valued at $27,000. Bay Harbor Wealth Management LLC purchased a new position in Stryker during the second quarter worth $31,000. Altshuler Shaham Ltd acquired a new position in shares of Stryker in the first quarter worth $33,000. Finally, Cascade Investment Advisors Inc. purchased a new stake in shares of Stryker in the first quarter valued at $34,000. 76.24% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts recently weighed in on the stock. Morgan Stanley boosted their target price on shares of Stryker from $295.00 to $300.00 and gave the company an “equal weight” rating in a research note on Monday, August 7th. Roth Mkm reissued a “buy” rating and set a $345.00 price objective on shares of Stryker in a research note on Thursday, November 9th. Citigroup decreased their target price on shares of Stryker from $342.00 to $330.00 and set a “buy” rating on the stock in a research report on Monday, October 2nd. Bank of America raised Stryker from a “neutral” rating to a “buy” rating and increased their price target for the stock from $310.00 to $315.00 in a research note on Tuesday, September 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $325.00 price objective on shares of Stryker in a research report on Thursday, August 17th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $311.30.
Insider Activity at Stryker
In other Stryker 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 transaction 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 approximately $2,021,266. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Viju Menon sold 5,000 shares of the business’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 directly owns 6,994 shares of the company’s stock, valued at $2,021,266. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Srikant M. Datar sold 750 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $287.57, for a total value of $215,677.50. Following the transaction, the director now directly owns 5,316 shares in the company, valued at approximately $1,528,722.12. The disclosure for this sale can be found here. Insiders have sold 6,250 shares of company stock valued at $1,806,638 over the last ninety days. Corporate insiders own 5.90% of the company’s stock.
Stryker Stock Down 1.1 %
Shares of Stryker stock opened at $288.38 on Friday. 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 $220.74 and a 1-year high of $306.93. The business has a 50-day moving average of $275.07 and a 200-day moving average of $282.55. The company has a market capitalization of $109.55 billion, a PE ratio of 42.79, a P/E/G ratio of 2.78 and a beta of 0.94.
Stryker (NYSE:SYK – Get Free Report) last posted its quarterly earnings data on Thursday, November 2nd. The medical technology company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.03. The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.87 billion. Stryker had a return on equity of 22.62% and a net margin of 13.00%. Stryker’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.12 EPS. As a group, equities analysts forecast that Stryker Co. will post 10.41 EPS for the current fiscal year.
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.
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