Stryker Co. (NYSE:SYK) Stake Decreased by LGT Capital Partners LTD.

LGT Capital Partners LTD. cut its stake in Stryker Co. (NYSE:SYK) by 7.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 281,690 shares of the medical technology company’s stock after selling 22,082 shares during the period. Stryker makes up approximately 3.5% of LGT Capital Partners LTD.’s holdings, making the stock its 10th largest holding. LGT Capital Partners LTD. owned about 0.07% of Stryker worth $101,763,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Clearbridge Investments LLC raised its position in shares of Stryker by 2.9% in the 2nd quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock worth $790,554,000 after buying an additional 66,482 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Stryker by 4.0% in 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 purchasing an additional 46,375 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Stryker by 2.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,143,573 shares of the medical technology company’s stock valued at $413,127,000 after acquiring an additional 32,491 shares in the last quarter. Swiss National Bank increased its holdings in Stryker by 0.4% during the 3rd quarter. Swiss National Bank now owns 1,017,600 shares of the medical technology company’s stock worth $367,618,000 after purchasing an additional 4,300 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its stake in shares of Stryker by 146.9% in the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock valued at $314,449,000 after purchasing an additional 522,817 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Buying and Selling

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Viju Menon sold 600 shares of the business’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 transaction, the insider now owns 9,069 shares in the company, valued at $3,219,495. This represents a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,381 shares of company stock worth $24,825,275. Corporate insiders own 5.50% of the company’s stock.

Analysts Set New Price Targets

SYK has been the subject of a number of analyst reports. Wolfe Research started coverage on Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective for the company. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Wells Fargo & Company boosted their target price on shares of Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Royal Bank of Canada increased their price target on Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Barclays lifted their price objective on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $393.65.

Stryker Trading Down 0.2 %

NYSE:SYK opened at $389.40 on Tuesday. 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 Co. has a twelve month low of $285.79 and a twelve month high of $398.20. The company has a market cap of $148.45 billion, a P/E ratio of 41.74, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. The business has a 50 day moving average price of $364.61 and a two-hundred day moving average price of $347.98.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business 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 firm earned $2.46 earnings per share. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, analysts expect that Stryker Co. will post 12.06 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 total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.