Moran Wealth Management LLC Sells 267 Shares of Stryker Co. (NYSE:SYK)

Moran Wealth Management LLC trimmed its stake in shares of Stryker Co. (NYSE:SYK) by 2.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,927 shares of the medical technology company’s stock after selling 267 shares during the quarter. Moran Wealth Management LLC’s holdings in Stryker were worth $2,724,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Hollencrest Capital Management grew its position in Stryker by 31.0% during the 2nd quarter. Hollencrest Capital Management now owns 169 shares of the medical technology company’s stock worth $52,000 after acquiring an additional 40 shares during the last quarter. Oxford Financial Group Ltd. grew its position in shares of Stryker by 85.1% in the 2nd quarter. Oxford Financial Group Ltd. now owns 2,032 shares of the medical technology company’s stock worth $620,000 after buying an additional 934 shares during the last quarter. Commonwealth Equity Services LLC grew its position in shares of Stryker by 3.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 161,153 shares of the medical technology company’s stock worth $49,166,000 after buying an additional 5,088 shares during the last quarter. AXS Investments LLC grew its position in shares of Stryker by 1.8% in the 2nd quarter. AXS Investments LLC now owns 5,656 shares of the medical technology company’s stock worth $1,726,000 after buying an additional 100 shares during the last quarter. Finally, Johnson Investment Counsel Inc. grew its position in shares of Stryker by 3.6% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 11,387 shares of the medical technology company’s stock worth $3,474,000 after buying an additional 395 shares during the last quarter. 76.24% of the stock is currently owned by institutional investors.

Stryker Stock Performance

NYSE:SYK opened at $289.29 on Tuesday. The stock has a 50-day simple moving average of $274.86 and a two-hundred day simple moving average of $282.47. Stryker Co. has a 52-week low of $222.65 and a 52-week high of $306.93. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.83 and a current ratio of 1.48. The firm has a market capitalization of $109.90 billion, a PE ratio of 42.92, a P/E/G ratio of 2.78 and a beta of 0.94.

Stryker (NYSE:SYK) last released its quarterly earnings results 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 return on equity of 22.62% and a net margin of 13.00%. The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.87 billion. During the same quarter in the previous year, the company posted $2.12 earnings per share. Stryker’s revenue for the quarter was up 9.4% on a year-over-year basis. Analysts forecast that Stryker Co. will post 10.41 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $325.00 price objective on shares of Stryker in a research report on Thursday, August 17th. Barclays lifted their price objective on Stryker from $321.00 to $335.00 and gave the stock an “overweight” rating in a research report on Monday, August 7th. Citigroup lowered their target price on Stryker from $342.00 to $330.00 and set a “buy” rating for the company in a research note on Monday, October 2nd. Bank of America upgraded Stryker from a “neutral” rating to a “buy” rating and raised their target price for the company from $310.00 to $315.00 in a research note on Tuesday, September 5th. Finally, Morgan Stanley raised their target price on Stryker from $295.00 to $300.00 and gave the company an “equal weight” rating in a research note on Monday, August 7th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $311.30.

Insider Activity

In other news, Director Srikant M. Datar sold 750 shares of the business’s stock in a transaction dated 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 $1,528,722.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Srikant M. Datar sold 750 shares of the business’s stock in a transaction dated 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 $1,528,722.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Viju Menon sold 5,000 shares of the business’s stock in a transaction dated 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 owns 6,994 shares in the company, valued at $2,021,266. The disclosure for this sale can be found here. Insiders have sold 6,250 shares of company stock worth $1,806,638 over the last ninety days. Corporate insiders own 5.90% of the company’s stock.

Stryker Profile

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.