Advisors Asset Management Inc. Lowers Stake in Stryker Co. (NYSE:SYK)

Advisors Asset Management Inc. lowered its holdings in shares of Stryker Co. (NYSE:SYK - Free Report) by 7.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 28,491 shares of the medical technology company's stock after selling 2,337 shares during the period. Advisors Asset Management Inc.'s holdings in Stryker were worth $10,293,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Parnassus Investments LLC bought a new stake in shares of Stryker in the third quarter valued at approximately $762,798,000. International Assets Investment Management LLC boosted its stake in shares of Stryker by 66,967.5% in the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company's stock valued at $308,433,000 after buying an additional 852,496 shares during the period. 1832 Asset Management L.P. boosted its stake in shares of Stryker by 146.9% in the first quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company's stock valued at $314,449,000 after buying an additional 522,817 shares during the period. American Century Companies Inc. boosted its stake in shares of Stryker by 287.6% in the second quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company's stock valued at $172,033,000 after buying an additional 375,166 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in Stryker by 49.8% during the second quarter. Canada Pension Plan Investment Board now owns 686,416 shares of the medical technology company's stock valued at $233,553,000 after purchasing an additional 228,139 shares in the last quarter. Institutional investors own 77.09% of the company's stock.

Stryker Stock Performance

SYK traded up $2.41 on Thursday, hitting $388.09. The company's stock had a trading volume of 82,202 shares, compared to its average volume of 1,265,323. The company's 50 day simple moving average is $365.46 and its 200-day simple moving average is $348.66. The firm has a market cap of $147.95 billion, a P/E ratio of 41.34, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91. 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.

Stryker (NYSE:SYK - Get Free Report) last released 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 company 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%. Stryker's revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the firm earned $2.46 EPS. Analysts forecast that Stryker Co. will post 12.06 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on SYK shares. Stifel Nicolaus lowered their price objective on shares of Stryker from $375.00 to $365.00 and set a "buy" rating for the company in a research report on Wednesday, July 31st. Needham & Company LLC boosted their price objective on shares of Stryker from $393.00 to $409.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Robert W. Baird boosted their price objective on shares of Stryker from $378.00 to $405.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Royal Bank of Canada boosted their price objective on shares of Stryker from $386.00 to $400.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Finally, UBS Group upped their price target on shares of Stryker from $366.00 to $370.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $393.65.

Insider Buying and Selling

In other Stryker news, insider Viju Menon sold 600 shares of the firm's stock in a transaction 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 transaction, the insider now directly owns 9,069 shares of the company's stock, valued at $3,219,495. This trade represents a 6.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP M Kathryn Fink sold 7,347 shares of the firm's stock in a transaction 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 sale, the vice president now owns 10,042 shares in the company, valued at approximately $3,685,213.16. This trade represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,381 shares of company stock valued at $24,825,275. Company insiders own 5.90% of the company's stock.

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.