Artisan Partners Limited Partnership Sells 1,361 Shares of Stryker Co. (NYSE:SYK)

Artisan Partners Limited Partnership trimmed its stake in Stryker Co. (NYSE:SYK) by 4.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 26,276 shares of the medical technology company’s stock after selling 1,361 shares during the period. Artisan Partners Limited Partnership’s holdings in Stryker were worth $8,017,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Quarry LP purchased a new stake in shares of Stryker in the first quarter worth approximately $27,000. Bay Harbor Wealth Management LLC purchased a new stake in shares of Stryker in the second quarter worth approximately $31,000. Freedom Wealth Alliance LLC purchased a new stake in shares of Stryker in the fourth quarter worth approximately $26,000. Altshuler Shaham Ltd purchased a new stake in shares of Stryker in the first quarter worth approximately $33,000. Finally, HBW Advisory Services LLC purchased a new stake in shares of Stryker in the second quarter worth approximately $35,000. 76.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Truist Financial increased their price target on Stryker from $270.00 to $300.00 and gave the stock a “hold” rating in a report on Monday, November 6th. Morgan Stanley raised their price objective on Stryker from $295.00 to $300.00 and gave the stock an “equal weight” rating in a report on Monday, August 7th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a report on Monday, November 6th. Roth Mkm restated a “buy” rating and set a $345.00 price objective on shares of Stryker in a report on Thursday, November 9th. Finally, Barclays raised their price objective on Stryker from $321.00 to $335.00 and gave the stock an “overweight” rating in a report on Monday, August 7th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $311.30.

Insider Transactions at Stryker

In other Stryker news, insider Viju Menon sold 5,000 shares of Stryker stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $289.00, for a total transaction 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 approximately $2,021,266. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Stryker news, Director Srikant M. Datar sold 750 shares of Stryker stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $287.57, for a total transaction of $215,677.50. Following the completion of the sale, the director now owns 5,316 shares of the company’s stock, valued at approximately $1,528,722.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Viju Menon sold 5,000 shares of Stryker 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 sale, the insider now directly owns 6,994 shares of the company’s stock, valued at approximately $2,021,266. The disclosure for this sale can be found here. Insiders sold 6,250 shares of company stock valued at $1,806,638 in the last quarter. 5.90% of the stock is currently owned by corporate insiders.

Stryker Stock Down 1.1 %

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. The stock has a market capitalization of $109.55 billion, a price-to-earnings ratio of 42.79, a PEG ratio of 2.78 and a beta of 0.94. Stryker Co. has a 1-year low of $220.74 and a 1-year high of $306.93. The business has a fifty day moving average price of $275.07 and a 200-day moving average price of $282.47.

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

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.