Avior Wealth Management LLC Sells 163 Shares of Stryker Co. (NYSE:SYK)

Avior Wealth Management LLC reduced its position in shares of Stryker Co. (NYSE:SYK) by 1.4% during the third quarter, Holdings Channel reports. The firm owned 11,120 shares of the medical technology company’s stock after selling 163 shares during the period. Avior Wealth Management LLC’s holdings in Stryker were worth $4,017,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SYK. Clearbridge Investments LLC grew its stake in Stryker by 2.9% in the 2nd quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock valued at $790,554,000 after purchasing an additional 66,482 shares during the period. Parnassus Investments LLC bought a new position in Stryker during the third quarter valued at about $762,798,000. The Manufacturers Life Insurance Company grew its position in Stryker by 4.0% during the second quarter. The Manufacturers Life Insurance Company now owns 1,209,769 shares of the medical technology company’s stock valued at $411,624,000 after buying an additional 46,375 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in Stryker by 2.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,143,573 shares of the medical technology company’s stock worth $413,127,000 after acquiring an additional 32,491 shares during the period. Finally, Swiss National Bank raised its position in Stryker by 0.4% in the third quarter. Swiss National Bank now owns 1,017,600 shares of the medical technology company’s stock worth $367,618,000 after acquiring an additional 4,300 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Price Performance

NYSE:SYK opened at $388.66 on Wednesday. Stryker Co. has a 52-week low of $285.79 and a 52-week high of $398.20. The stock has a fifty day moving average of $365.08 and a 200 day moving average of $348.40. 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 firm has a market capitalization of $148.16 billion, a price-to-earnings ratio of 41.66, a P/E/G ratio of 2.94 and a beta of 0.91.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $5.37 billion. During the same quarter last year, the company posted $2.46 EPS. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, research analysts expect that Stryker Co. will post 12.06 EPS for the current fiscal year.

Insider Buying and Selling at Stryker

In other news, insider Viju Menon sold 600 shares of the 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 transaction, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. This represents a 6.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,715,540. The trade was a 17.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,381 shares of company stock worth $24,825,275 over the last three months. 5.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SYK shares. BTIG Research raised their price target on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada raised their target price on Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. UBS Group upped their price target on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Truist Financial increased their price target on Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Finally, Evercore ISI boosted their price objective on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

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 total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.