Cahill Wealth Management LLC Reduces Stock Holdings in Stryker Co. (NYSE:SYK)

Cahill Wealth Management LLC reduced its stake in shares of Stryker Co. (NYSE:SYK) by 7.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,096 shares of the medical technology company’s stock after selling 334 shares during the quarter. Stryker accounts for approximately 0.8% of Cahill Wealth Management LLC’s holdings, making the stock its 21st largest holding. Cahill Wealth Management LLC’s holdings in Stryker were worth $1,480,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Koshinski Asset Management Inc. purchased a new stake in shares of Stryker during the 1st quarter valued at about $795,000. Envestnet Portfolio Solutions Inc. increased its holdings in Stryker by 43.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock worth $6,617,000 after purchasing an additional 5,565 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Stryker by 78.9% during the 2nd 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 purchased a new stake in Stryker during the 1st quarter worth approximately $11,534,000. Finally, OFI Invest Asset Management increased its holdings in Stryker by 3,210.9% during the 2nd quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company’s stock worth $1,062,000 after purchasing an additional 3,243 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Stryker

In other Stryker news, insider Viju Menon sold 600 shares of the 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 transaction, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the transaction, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Viju Menon sold 600 shares of the firm’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 owns 9,069 shares in the company, valued at $3,219,495. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,381 shares of company stock valued at $24,825,275 in the last three months. Corporate insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SYK shares. Stifel Nicolaus lowered their price target on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Wolfe Research started coverage on Stryker in a report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price objective for the company. Royal Bank of Canada upped their price objective on Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. BTIG Research upped their price objective on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their target price on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $393.65.

Stryker Trading Up 1.7 %

Stryker stock opened at $375.96 on Friday. The business has a 50 day moving average price of $361.46 and a two-hundred day moving average price of $345.63. 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 stock has a market cap of $143.32 billion, a price-to-earnings ratio of 40.30, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. Stryker Co. has a 12 month low of $266.93 and a 12 month high of $377.83.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping 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 business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the prior year, the firm posted $2.46 EPS. Stryker’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, equities analysts forecast that Stryker Co. will post 12.06 EPS 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.