Stryker Co. (NYSE:SYK) Stock Holdings Decreased by Glenmede Trust Co. NA

Glenmede Trust Co. NA decreased its position in Stryker Co. (NYSE:SYK) by 1.1% in the third quarter, HoldingsChannel reports. The firm owned 68,150 shares of the medical technology company’s stock after selling 778 shares during the period. Glenmede Trust Co. NA’s holdings in Stryker were worth $24,620,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Centennial Bank AR boosted its position in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares during the period. Darwin Wealth Management LLC acquired a new stake in Stryker during the 3rd quarter worth about $36,000. HBW Advisory Services LLC acquired a new position in shares of Stryker in the 3rd quarter valued at about $42,000. Hara Capital LLC acquired a new stake in shares of Stryker during the third quarter worth approximately $42,000. Finally, Grove Bank & Trust increased its stake in Stryker by 84.8% in the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after buying an additional 56 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction dated Thursday, November 7th. The stock was 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 directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction dated 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 directly owns 10,042 shares in the company, valued at approximately $3,685,213.16. This represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,781 shares of company stock valued at $24,612,275 in the last three months. 5.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SYK has been the topic of several research reports. StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a research report on Friday, November 22nd. Barclays raised their price objective on shares of Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Piper Sandler restated an “overweight” rating and set a $420.00 price target (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Royal Bank of Canada lifted their price objective on shares of Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Citigroup boosted their price target on Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Price Performance

Shares of NYSE:SYK opened at $388.14 on Thursday. The business’s 50 day moving average is $367.50 and its 200-day moving average is $350.68. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $147.97 billion, a PE ratio of 41.60, a PEG ratio of 2.94 and a beta of 0.91. Stryker Co. has a 1-year low of $285.79 and a 1-year high of $398.20.

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

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.