Stryker Co. (NYSE:SYK) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its holdings in Stryker Co. (NYSE:SYK - Free Report) by 6.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,885 shares of the medical technology company's stock after selling 1,664 shares during the quarter. Kentucky Retirement Systems' holdings in Stryker were worth $8,629,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Lord Abbett & CO. LLC increased its stake in shares of Stryker by 5.0% in the 1st quarter. Lord Abbett & CO. LLC now owns 821 shares of the medical technology company's stock worth $294,000 after acquiring an additional 39 shares during the last quarter. Nwam LLC increased its position in Stryker by 2.1% during the first quarter. Nwam LLC now owns 2,214 shares of the medical technology company's stock worth $740,000 after purchasing an additional 46 shares during the last quarter. Tocqueville Asset Management L.P. raised its stake in Stryker by 6.2% during the first quarter. Tocqueville Asset Management L.P. now owns 2,222 shares of the medical technology company's stock worth $795,000 after purchasing an additional 130 shares during the period. M&G Plc acquired a new position in Stryker in the 1st quarter valued at about $11,534,000. Finally, First Foundation Advisors grew its stake in shares of Stryker by 49.6% in the 1st quarter. First Foundation Advisors now owns 1,343 shares of the medical technology company's stock valued at $481,000 after buying an additional 445 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Stryker

In other news, insider Viju Menon sold 600 shares of the company's stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction 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 approximately $3,219,495. This represents a 6.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $21,131,303.10. Following the completion of the transaction, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,381 shares of company stock valued at $24,825,275. Insiders own 5.90% of the company's stock.

Stryker Stock Up 1.8 %

Shares of NYSE SYK traded up $6.80 during mid-day trading on Friday, hitting $390.08. The company had a trading volume of 2,874,077 shares, compared to its average volume of 1,335,082. The company has a market capitalization of $148.71 billion, a PE ratio of 41.81, a price-to-earnings-growth ratio of 2.89 and a beta of 0.91. The business's 50-day simple moving average is $364.07 and its 200 day simple moving average is $347.33. Stryker Co. has a 1-year low of $282.35 and a 1-year high of $392.70. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SYK shares. Piper Sandler reiterated an "overweight" rating and issued a $420.00 price objective (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Stifel Nicolaus decreased their price target on Stryker from $375.00 to $365.00 and set a "buy" rating on the stock in a research note on Wednesday, July 31st. Wells Fargo & Company raised their price objective on Stryker from $381.00 to $405.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Canaccord Genuity Group upped their target price on shares of Stryker from $360.00 to $400.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of Stryker from $375.00 to $420.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat.com, Stryker currently has a consensus rating of "Moderate Buy" and an average price target of $393.65.

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.