Washington Trust Bank Trims Position in Stryker Co. (NYSE:SYK)

Washington Trust Bank trimmed its stake in Stryker Co. (NYSE:SYK - Free Report) by 51.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,384 shares of the medical technology company's stock after selling 1,490 shares during the period. Washington Trust Bank's holdings in Stryker were worth $500,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in SYK. Koshinski Asset Management Inc. purchased a new stake in Stryker during the 1st quarter worth approximately $795,000. Envestnet Portfolio Solutions Inc. boosted its stake in Stryker by 43.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company's stock valued at $6,617,000 after acquiring an additional 5,565 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Stryker by 78.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company's stock worth $45,260,000 after purchasing an additional 58,673 shares during the last quarter. M&G Plc acquired a new stake in shares of Stryker during the first quarter worth about $11,534,000. Finally, OFI Invest Asset Management boosted its position in shares of Stryker by 3,210.9% in the 2nd quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company's stock valued at $1,062,000 after purchasing an additional 3,243 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Price Performance

Shares of SYK stock traded up $0.81 during midday trading on Thursday, reaching $369.83. 844,958 shares of the company traded hands, compared to its average volume of 1,255,662. The firm's 50 day simple moving average is $360.91 and its two-hundred day simple moving average is $345.12. The firm has a market cap of $140.99 billion, a PE ratio of 39.64, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. 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 Co. has a 1-year low of $266.93 and a 1-year high of $376.04.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $5.49 billion during the quarter, compared to analysts' expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. Stryker's revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.46 earnings per share. On average, equities research analysts expect that Stryker Co. will post 12.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of research reports. Needham & Company LLC boosted their price objective on Stryker from $393.00 to $409.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. 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. Evercore ISI lifted their price objective on shares of Stryker from $380.00 to $384.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. BTIG Research increased their target price on shares of Stryker from $383.00 to $394.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus dropped their price target on Stryker from $375.00 to $365.00 and set a "buy" rating on the stock in a research report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $393.65.

Insider Buying and Selling

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction dated 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 transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,685,213.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction on Tuesday, September 17th. The stock was 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 represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Viju Menon sold 600 shares of the business's stock in a transaction 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 completion of the transaction, the insider now directly owns 9,069 shares of the company's stock, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,068 shares of company stock worth $3,693,972 in the last three months. Corporate insiders own 5.50% of the company's stock.

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.