Main Street Financial Solutions LLC Sells 82 Shares of Stryker Co. (NYSE:SYK)

Main Street Financial Solutions LLC lowered its stake in Stryker Co. (NYSE:SYK) by 11.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 627 shares of the medical technology company’s stock after selling 82 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Stryker were worth $227,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SYK. Oppenheimer & Co. Inc. grew its stake in shares of Stryker by 1.8% in the third quarter. Oppenheimer & Co. Inc. now owns 21,256 shares of the medical technology company’s stock worth $7,679,000 after acquiring an additional 381 shares during the last quarter. Simmons Bank purchased a new stake in Stryker during the 3rd quarter valued at about $409,000. Community Bank & Trust Waco Texas increased its stake in Stryker by 20.6% during the 3rd quarter. Community Bank & Trust Waco Texas now owns 941 shares of the medical technology company’s stock valued at $340,000 after purchasing an additional 161 shares in the last quarter. Haverford Trust Co raised its holdings in Stryker by 2.3% in the third quarter. Haverford Trust Co now owns 212,048 shares of the medical technology company’s stock worth $76,604,000 after buying an additional 4,763 shares during the last quarter. Finally, Empower Advisory Group LLC lifted its stake in shares of Stryker by 6.0% in the third quarter. Empower Advisory Group LLC now owns 1,307 shares of the medical technology company’s stock worth $472,000 after buying an additional 74 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Insider Activity

In related news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,685,213.16. The trade was a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,381 shares of company stock worth $24,825,275 over the last quarter. Insiders own 5.90% of the company’s stock.

Stryker Trading Up 1.8 %

Shares of SYK stock opened at $390.08 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The stock has a fifty day simple moving average of $363.45 and a two-hundred day simple moving average of $346.97. The firm has a market capitalization of $148.71 billion, a PE ratio of 41.81, a PEG ratio of 2.89 and a beta of 0.91. Stryker Co. has a 52-week low of $282.35 and a 52-week high of $392.70.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (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 firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter last year, the business posted $2.46 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. On average, analysts predict that Stryker Co. will post 12.06 EPS for the current fiscal year.

Analysts Set New Price Targets

SYK has been the subject of a number of research analyst reports. UBS Group lifted their target price on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and issued a $420.00 target price (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Needham & Company LLC boosted their target price on shares of Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada upped their price objective on Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Wolfe Research initiated coverage on Stryker in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price on the stock. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $393.65.

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.