Stryker Co. (NYSE:SYK) Stake Reduced by Ascent Wealth Partners LLC

Ascent Wealth Partners LLC cut its holdings in Stryker Co. (NYSE:SYK) by 6.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,374 shares of the medical technology company’s stock after selling 1,939 shares during the quarter. Stryker comprises about 1.4% of Ascent Wealth Partners LLC’s investment portfolio, making the stock its 20th biggest holding. Ascent Wealth Partners LLC’s holdings in Stryker were worth $10,250,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SYK. Norden Group LLC acquired a new stake in Stryker during the 1st quarter worth about $280,000. Central Pacific Bank Trust Division acquired a new position in shares of Stryker in the 1st quarter valued at about $39,000. Empirical Finance LLC increased its holdings in shares of Stryker by 3.5% in the 1st quarter. Empirical Finance LLC now owns 12,039 shares of the medical technology company’s stock valued at $4,308,000 after purchasing an additional 412 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Stryker by 43.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock valued at $6,617,000 after purchasing an additional 5,565 shares during the period. Finally, Quantbot Technologies LP acquired a new position in shares of Stryker in the 1st quarter valued at about $4,362,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SYK shares. Robert W. Baird upped their target price on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Royal Bank of Canada upped their target price on Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their price target on Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Evercore ISI boosted their price target on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Stock Performance

Stryker stock traded down $0.84 during mid-day trading on Thursday, reaching $369.02. 1,366,185 shares of the company’s stock were exchanged, compared to its average volume of 1,257,470. The business’s fifty day simple moving average is $360.91 and its 200 day simple moving average is $345.12. The firm has a market capitalization of $140.68 billion, a PE ratio of 39.55, a P/E/G ratio of 2.77 and a beta of 0.91. Stryker Co. has a one year low of $266.93 and a one year high of $376.04. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the previous year, the business earned $2.46 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. On average, sell-side analysts expect that Stryker Co. will post 12.06 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Viju Menon sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now owns 9,069 shares in the company, valued at $3,219,495. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares in the company, valued at $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,068 shares of company stock worth $3,693,972 in the last 90 days. Insiders own 5.50% 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 total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.