Harvest Fund Management Co. Ltd Sells 54 Shares of Stryker Co. (NYSE:SYK)

Harvest Fund Management Co. Ltd lessened its stake in shares of Stryker Co. (NYSE:SYK) by 13.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 340 shares of the medical technology company’s stock after selling 54 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Stryker were worth $123,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Centennial Bank AR increased its holdings in Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Stryker during the third quarter worth about $36,000. HBW Advisory Services LLC acquired a new position in shares of Stryker in the third quarter valued at approximately $42,000. Hara Capital LLC bought a new position in Stryker in the 3rd quarter valued at approximately $42,000. Finally, Grove Bank & Trust boosted its position in Stryker by 84.8% during the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after buying an additional 56 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were 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 $3,715,540. The trade was a 17.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Kevin Lobo sold 57,313 shares of the firm’s 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 completion of the transaction, the chief executive officer now directly owns 100,027 shares in the company, 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. In the last three months, insiders have sold 66,781 shares of company stock valued at $24,612,275. 5.50% of the stock is owned by company insiders.

Stryker Stock Performance

NYSE:SYK opened at $388.14 on Thursday. The firm has a market capitalization of $147.97 billion, a P/E ratio of 41.60, a P/E/G ratio of 2.90 and a beta of 0.91. Stryker Co. has a twelve month low of $285.79 and a twelve month high of $398.20. The company has a fifty day moving average of $367.50 and a 200-day moving average of $350.68. 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 quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.10. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business’s revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.46 earnings per share. As a group, sell-side analysts anticipate that Stryker Co. will post 12.06 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SYK shares. Robert W. Baird upped their price target on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. UBS Group increased their price objective on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Barclays raised their target price on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Wells Fargo & Company upped their price target on Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, 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. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.