PFM Health Sciences LP Cuts Holdings in Stryker Co. (NYSE:SYK)

PFM Health Sciences LP decreased its stake in Stryker Co. (NYSE:SYK) by 41.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,014 shares of the medical technology company’s stock after selling 47,283 shares during the quarter. Stryker makes up 1.4% of PFM Health Sciences LP’s holdings, making the stock its 27th biggest position. PFM Health Sciences LP’s holdings in Stryker were worth $24,209,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Centennial Bank AR increased its stake 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 buying an additional 48 shares during the period. Darwin Wealth Management LLC purchased a new position in Stryker during the 3rd quarter worth $36,000. HBW Advisory Services LLC purchased a new position in Stryker during the 3rd quarter worth $42,000. Hara Capital LLC purchased a new position in shares of Stryker in the 3rd quarter valued at about $42,000. Finally, Grove Bank & Trust increased its holdings in shares of 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 purchasing an additional 56 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the topic of several analyst reports. Citigroup raised their price target on shares of Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada raised their target price 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. Truist Financial raised their target price on shares of Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Barclays raised their target price on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC raised their target price on shares of Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus price target of $393.65.

Insider Buying and Selling at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. The trade was a 17.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,781 shares of company stock valued at $24,612,275. 5.90% of the stock is currently owned by corporate insiders.

Stryker Stock Performance

Shares of SYK opened at $392.15 on Friday. Stryker Co. has a 1 year low of $285.79 and a 1 year high of $398.20. The company has a market cap of $149.50 billion, a price-to-earnings ratio of 42.03, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The firm has a fifty day moving average of $368.51 and a 200-day moving average of $351.41.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating 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 business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the previous year, the business earned $2.46 earnings per share. The company’s revenue was up 11.9% on a year-over-year basis. As a group, equities analysts anticipate 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.