Stryker Co. (NYSE:SYK) Position Lessened by Peak Asset Management LLC

Peak Asset Management LLC decreased its holdings in Stryker Co. (NYSE:SYK - Free Report) by 5.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 49,599 shares of the medical technology company's stock after selling 2,714 shares during the quarter. Stryker accounts for about 3.4% of Peak Asset Management LLC's holdings, making the stock its 7th biggest holding. Peak Asset Management LLC's holdings in Stryker were worth $17,918,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of SYK. Vanguard Group Inc. lifted its position in shares of Stryker by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company's stock worth $11,258,373,000 after buying an additional 309,592 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Stryker by 10.4% during the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company's stock worth $3,096,078,000 after acquiring an additional 813,311 shares in the last quarter. Clearbridge Investments LLC lifted its position in Stryker by 2.9% in the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company's stock valued at $790,554,000 after acquiring an additional 66,482 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Stryker by 4.0% during the second quarter. The Manufacturers Life Insurance Company now owns 1,209,769 shares of the medical technology company's stock worth $411,624,000 after purchasing an additional 46,375 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of Stryker by 2.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,143,573 shares of the medical technology company's stock worth $413,127,000 after purchasing an additional 32,491 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Insider Buying and Selling

In other news, CEO Kevin Lobo sold 57,313 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Viju Menon sold 600 shares of the company's stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. The trade was a 6.21 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,381 shares of company stock valued at $24,825,275. 5.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of research analyst reports. Barclays upped their target price on Stryker from $402.00 to $418.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Evercore ISI increased their price objective on Stryker from $380.00 to $384.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Wolfe Research initiated coverage on shares of Stryker in a report on Tuesday, September 10th. They issued an "outperform" rating and a $405.00 target price on the stock. UBS Group increased 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, StockNews.com upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $393.65.

Stryker Price Performance

Stryker stock traded down $5.06 during midday trading on Thursday, reaching $383.28. The company's stock had a trading volume of 1,763,435 shares, compared to its average volume of 1,259,397. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. Stryker Co. has a fifty-two week low of $282.35 and a fifty-two week high of $392.70. The firm has a market capitalization of $146.11 billion, a PE ratio of 41.62, a P/E/G ratio of 2.92 and a beta of 0.91. The stock's 50 day simple moving average is $362.94 and its 200 day simple moving average is $346.72.

Stryker (NYSE:SYK - Get Free Report) last issued its earnings results 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. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same period in the prior year, the business posted $2.46 earnings per share. The firm's revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities research analysts forecast that Stryker Co. will post 12.06 earnings per share for the current 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.