Pinnacle Financial Partners Inc Lowers Position in Stryker Co. (NYSE:SYK)

Pinnacle Financial Partners Inc lowered its holdings in Stryker Co. (NYSE:SYK) by 10.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 6,711 shares of the medical technology company’s stock after selling 820 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Stryker were worth $2,424,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of SYK. International Assets Investment Management LLC increased its holdings in shares of Stryker by 66,967.5% in the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after acquiring an additional 852,496 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Stryker by 10.4% in the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after buying an additional 813,311 shares in the last quarter. 1832 Asset Management L.P. grew its position in shares of Stryker by 146.9% in the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock worth $314,449,000 after buying an additional 522,817 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Stryker by 287.6% during the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock worth $172,033,000 after acquiring an additional 375,166 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Stryker by 1.0% during the first quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock valued at $11,258,373,000 after acquiring an additional 309,592 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SYK. UBS Group upped their price target on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group increased their price target on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. 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. Citigroup increased their price objective on shares of Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average target price of $393.65.

Stryker Stock Up 0.3 %

Stryker stock opened at $388.34 on Thursday. Stryker Co. has a 12 month low of $282.35 and a 12 month high of $390.59. The stock has a market capitalization of $148.04 billion, a PE ratio of 41.62, a price-to-earnings-growth ratio of 2.92 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. The business has a 50 day simple moving average of $362.38 and a 200-day simple moving average of $346.42.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company 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 business posted $2.46 earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, analysts anticipate that Stryker Co. will post 12.06 EPS for the current fiscal year.

Insider Activity at Stryker

In other Stryker news, insider Viju Menon sold 600 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Viju Menon sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. This represents a 0.00 % 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. 5.90% of the stock is owned by corporate insiders.

Stryker Company 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.