Stone Point Wealth LLC Cuts Stake in Stryker Co. (NYSE:SYK)

Stone Point Wealth LLC cut its stake in Stryker Co. (NYSE:SYK) by 0.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,702 shares of the medical technology company’s stock after selling 72 shares during the quarter. Stryker comprises approximately 1.5% of Stone Point Wealth LLC’s investment portfolio, making the stock its 18th biggest position. Stone Point Wealth LLC’s holdings in Stryker were worth $4,589,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SYK. Centennial Bank AR grew 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 last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Stryker during the 1st quarter worth approximately $39,000. Hara Capital LLC acquired a new stake in Stryker in the third quarter valued at $42,000. HBW Advisory Services LLC purchased a new stake in Stryker during the third quarter worth about $42,000. Finally, Grove Bank & Trust grew 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 worth $44,000 after acquiring an additional 56 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP M Kathryn Fink sold 7,347 shares of the business’s stock in a transaction on 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 owns 10,042 shares in the company, valued at $3,685,213.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,068 shares of company stock worth $3,693,972 in the last three months. 5.90% of the stock is owned by corporate insiders.

Stryker Stock Performance

Shares of SYK opened at $368.00 on Friday. 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 firm has a 50-day moving average of $360.91 and a 200-day moving average of $345.12. The company has a market cap of $140.29 billion, a PE ratio of 39.64, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. Stryker Co. has a one year low of $266.93 and a one year high of $376.04.

Stryker (NYSE:SYK) last released its quarterly earnings results 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 company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the previous year, the business earned $2.46 earnings per share. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, equities analysts forecast that Stryker Co. will post 12.06 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Wolfe Research assumed coverage on shares of Stryker in a report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price target for the company. Piper Sandler reiterated an “overweight” rating and set a $420.00 price objective (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Canaccord Genuity Group increased their target price on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, UBS Group upped their target price on Stryker from $366.00 to $370.00 and gave the company a “neutral” 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $393.65.

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.