Stryker Co. (NYSE:SYK) Shares Sold by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. cut its stake in shares of Stryker Co. (NYSE:SYK - Free Report) by 23.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 503,326 shares of the medical technology company's stock after selling 156,880 shares during the period. Diamond Hill Capital Management Inc. owned about 0.13% of Stryker worth $181,832,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Centennial Bank AR raised its position in Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company's stock worth $32,000 after acquiring an additional 48 shares during the period. HBW Advisory Services LLC purchased a new stake in shares of Stryker during the third quarter worth $42,000. Hara Capital LLC purchased a new stake in shares of Stryker during the third quarter worth $42,000. Grove Bank & Trust grew its holdings in shares of Stryker by 84.8% during the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company's stock worth $44,000 after buying an additional 56 shares in the last quarter. Finally, DT Investment Partners LLC grew its holdings in shares of Stryker by 114.3% during the third quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company's stock worth $49,000 after buying an additional 72 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SYK. Piper Sandler reaffirmed an "overweight" rating and set a $420.00 target price (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. StockNews.com lowered shares of Stryker from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. Robert W. Baird upped their target price on shares of Stryker from $378.00 to $405.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Stifel Nicolaus dropped their price objective on shares of Stryker from $375.00 to $365.00 and set a "buy" rating for the company in a report on Wednesday, July 31st. Finally, Canaccord Genuity Group upped their price objective on shares of Stryker from $360.00 to $400.00 and gave the company a "buy" 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. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $393.65.

Insider Transactions at Stryker

In other news, 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 sale, the chief executive officer now owns 100,027 shares of the company's stock, valued at approximately $36,879,954.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, 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 sale, the chief executive officer now owns 100,027 shares of the company's stock, valued at approximately $36,879,954.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of the firm's stock in a transaction that occurred on 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 sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,685,213.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,381 shares of company stock valued at $24,825,275. 5.90% of the stock is currently owned by corporate insiders.

Stryker Trading Up 1.0 %

SYK stock traded up $3.76 during mid-day trading on Monday, hitting $379.72. 290,738 shares of the company were exchanged, compared to its average volume of 1,250,105. 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 firm has a market capitalization of $144.76 billion, a P/E ratio of 40.30, a PEG ratio of 2.83 and a beta of 0.91. The business has a fifty day simple moving average of $361.46 and a 200-day simple moving average of $345.77. Stryker Co. has a 12-month low of $276.60 and a 12-month high of $381.54.

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

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.