Castleark Management LLC Lowers Position in Stryker Co. (NYSE:SYK)

Castleark Management LLC reduced its position in shares of Stryker Co. (NYSE:SYK - Free Report) by 99.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 340 shares of the medical technology company's stock after selling 121,652 shares during the period. Castleark Management LLC's holdings in Stryker were worth $123,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Stryker by 2.2% in the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company's stock valued at $5,279,788,000 after acquiring an additional 316,404 shares in the last quarter. FMR LLC grew its position in shares of Stryker by 3.0% during the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company's stock worth $2,639,725,000 after purchasing an additional 215,782 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Stryker by 2.9% during the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company's stock worth $790,554,000 after purchasing an additional 66,482 shares during the period. Parnassus Investments LLC acquired a new stake in shares of Stryker in the third quarter valued at approximately $762,798,000. Finally, Janus Henderson Group PLC boosted its stake in shares of Stryker by 1.5% in the third quarter. Janus Henderson Group PLC now owns 1,969,757 shares of the medical technology company's stock valued at $711,594,000 after buying an additional 28,421 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Stryker Trading Up 0.7 %

SYK traded up $2.57 during trading on Friday, reaching $385.02. 1,049,412 shares of the stock traded hands, compared to its average volume of 1,293,936. The stock's 50-day moving average is $371.10 and its 200 day moving average is $353.67. Stryker Co. has a 12 month low of $285.79 and a 12 month high of $398.20. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $146.78 billion, a PE ratio of 41.27, a P/E/G ratio of 2.90 and a beta of 0.94.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business had revenue of $5.49 billion during the quarter, compared to analysts' expectations of $5.37 billion. During the same quarter last year, the firm posted $2.46 earnings per share. The firm's revenue was up 11.9% on a year-over-year basis. Equities analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current year.

Insider Activity

In related news, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction on Friday, September 13th. The shares were 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 approximately $3,715,540. This trade represents a 17.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Kevin Lobo sold 57,313 shares of the firm's stock in a transaction on 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 $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,781 shares of company stock worth $24,612,275 in the last quarter. 5.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. UBS Group lifted 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. Evercore ISI raised their target price on shares of Stryker from $380.00 to $384.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Morgan Stanley raised shares of Stryker from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. JPMorgan Chase & Co. lifted their price target on Stryker from $375.00 to $420.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Finally, StockNews.com cut Stryker from a "buy" rating to a "hold" rating in a research report on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $398.40.

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.