L & S Advisors Inc Sells 833 Shares of Stryker Co. (NYSE:SYK)

L & S Advisors Inc cut its position in Stryker Co. (NYSE:SYK) by 11.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,719 shares of the medical technology company’s stock after selling 833 shares during the period. L & S Advisors Inc’s holdings in Stryker were worth $2,427,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SYK. Wealth Enhancement Advisory Services LLC grew its position in Stryker by 78.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock valued at $45,260,000 after purchasing an additional 58,673 shares in the last quarter. OFI Invest Asset Management grew its position in Stryker by 3,210.9% in the second quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company’s stock valued at $1,062,000 after purchasing an additional 3,243 shares in the last quarter. Tidal Investments LLC grew its position in Stryker by 14.2% in the first quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company’s stock valued at $4,853,000 after purchasing an additional 1,681 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Stryker by 2.7% in the second quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company’s stock valued at $210,289,000 after purchasing an additional 16,504 shares in the last quarter. Finally, Sivik Global Healthcare LLC grew its position in shares of Stryker by 8.0% in the 3rd quarter. Sivik Global Healthcare LLC now owns 27,000 shares of the medical technology company’s stock valued at $9,754,000 after acquiring an additional 2,000 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Wells Fargo & Company lifted 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 lifted their target price on shares of Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and issued a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Finally, 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 report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Insiders Place Their Bets

In related news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,685,213.16. This represents a 42.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,381 shares of company stock worth $24,825,275. Insiders own 5.90% of the company’s stock.

Stryker Trading Up 0.3 %

SYK opened at $386.91 on Thursday. Stryker Co. has a fifty-two week low of $285.79 and a fifty-two week high of $398.20. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The firm has a market capitalization of $147.50 billion, a price-to-earnings ratio of 41.34, a PEG ratio of 2.93 and a beta of 0.91. The company’s 50 day moving average price is $365.46 and its two-hundred day moving average price is $348.66.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS 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 company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same period in the prior year, the firm posted $2.46 EPS. The company’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, research analysts predict that Stryker Co. will post 12.06 earnings per share for the current year.

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.