Orion Portfolio Solutions LLC Lowers Stock Holdings in Stryker Co. (NYSE:SYK)

Orion Portfolio Solutions LLC cut its stake in shares of Stryker Co. (NYSE:SYK) by 5.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,132 shares of the medical technology company’s stock after selling 752 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Stryker were worth $5,105,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SYK. Centennial Bank AR increased its holdings in Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC bought a new position in shares of Stryker during the 3rd quarter worth $36,000. Hara Capital LLC bought a new stake in shares of Stryker in the third quarter valued at about $42,000. HBW Advisory Services LLC purchased a new stake in Stryker in the third quarter worth about $42,000. Finally, Grove Bank & Trust grew its holdings in Stryker by 84.8% during the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after acquiring an additional 56 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SYK shares. Royal Bank of Canada upped their price target on shares of Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Barclays upped their target price on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Canaccord Genuity Group lifted their price target on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Evercore ISI upped their price objective on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Stryker has an average rating of “Moderate Buy” and an average price target of $398.40.

Insider Buying and Selling at Stryker

In related news, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the transaction, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. The trade was a 17.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of the 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 sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,781 shares of company stock worth $24,612,275. Company insiders own 5.50% of the company’s stock.

Stryker Stock Performance

Shares of SYK stock opened at $385.02 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The business has a fifty day moving average of $371.10 and a 200 day moving average of $353.67. The firm has a market capitalization of $146.78 billion, a price-to-earnings ratio of 41.27, a price-to-earnings-growth ratio of 2.90 and a beta of 0.94. 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 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. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same period last year, the business posted $2.46 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, research analysts expect that Stryker Co. will post 12.06 earnings per share 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.