Citigroup Inc. Trims Holdings in Stryker Co. (NYSE:SYK)

Citigroup Inc. cut its holdings in Stryker Co. (NYSE:SYK - Free Report) by 6.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 276,683 shares of the medical technology company's stock after selling 20,069 shares during the period. Citigroup Inc. owned 0.07% of Stryker worth $99,955,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SYK. CreativeOne Wealth LLC lifted its stake in Stryker by 55.7% during the first quarter. CreativeOne Wealth LLC now owns 1,924 shares of the medical technology company's stock worth $688,000 after purchasing an additional 688 shares during the last quarter. Gamco Investors INC. ET AL purchased a new position in Stryker during the 1st quarter valued at $5,034,000. LRI Investments LLC bought a new position in Stryker in the first quarter worth about $107,000. Magnetar Financial LLC bought a new position in shares of Stryker in the 1st quarter worth approximately $773,000. Finally, Fairview Capital Investment Management LLC purchased a new stake in Stryker in the first quarter worth $215,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Stryker

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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Viju Menon sold 600 shares of the business's stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now owns 9,069 shares of the company's stock, valued at approximately $3,219,495. This trade represents a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,381 shares of company stock worth $24,825,275 over the last quarter. Insiders own 5.90% of the company's stock.

Stryker Stock Down 1.4 %

Shares of SYK stock traded down $5.29 during trading hours on Friday, reaching $384.85. 1,069,692 shares of the company's stock were exchanged, compared to its average volume of 1,498,897. The stock's 50 day moving average is $366.20 and its 200-day moving average is $349.36. Stryker Co. has a fifty-two week low of $285.79 and a fifty-two week high of $398.20. The company has a market cap of $146.71 billion, a price-to-earnings ratio of 41.25, a P/E/G ratio of 2.94 and a beta of 0.91. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data 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. The business 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 for the quarter 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. Analysts predict that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SYK shares. Evercore ISI boosted their price objective on shares of Stryker from $380.00 to $384.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Needham & Company LLC raised their price objective on shares of Stryker from $393.00 to $409.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Piper Sandler reaffirmed an "overweight" rating and issued a $420.00 price objective (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. UBS Group lifted their price target on shares of Stryker from $366.00 to $370.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their price objective on Stryker from $375.00 to $420.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $393.65.

Stryker Company 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.