Stryker Co. (NYSE:SYK) CEO Kevin Lobo Sells 57,313 Shares of Stock

Stryker Co. (NYSE:SYK) CEO Kevin Lobo sold 57,313 shares of the firm’s 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 sale, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Stryker Stock Performance

Stryker stock opened at $375.96 on Friday. The company has a market capitalization of $143.32 billion, a price-to-earnings ratio of 40.30, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. Stryker Co. has a 12-month low of $266.93 and a 12-month high of $377.83. The firm’s fifty day moving average price is $361.46 and its 200 day moving average price is $345.63.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.10. The company had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the business earned $2.46 EPS. On average, research analysts forecast that Stryker Co. will post 12.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Patrick M Sweeney & Associates Inc. boosted its holdings in shares of Stryker by 1.5% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock valued at $793,000 after buying an additional 32 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Stryker by 4.0% in the 2nd quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock valued at $294,000 after buying an additional 33 shares during the period. Stanley Laman Group Ltd. boosted its holdings in shares of Stryker by 4.6% in the 2nd quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock valued at $256,000 after buying an additional 33 shares during the period. Plimoth Trust Co. LLC boosted its holdings in shares of Stryker by 0.3% in the 2nd quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock valued at $3,224,000 after buying an additional 33 shares during the period. Finally, Grimes & Company Inc. boosted its holdings in shares of Stryker by 0.4% in the 3rd quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock valued at $2,977,000 after buying an additional 33 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on SYK. Morgan Stanley lifted their price target on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. JPMorgan Chase & Co. lifted their price target on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Robert W. Baird lifted their price target on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Truist Financial lifted their price target on shares of Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada lifted their price target on shares of Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker presently 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.