EULAV Asset Management Lowers Stock Holdings in Stryker Co. (NYSE:SYK)

EULAV Asset Management lowered its stake in Stryker Co. (NYSE:SYK) by 2.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 117,044 shares of the medical technology company’s stock after selling 3,000 shares during the quarter. Stryker makes up 1.0% of EULAV Asset Management’s portfolio, making the stock its 29th biggest position. EULAV Asset Management’s holdings in Stryker were worth $42,283,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its position in Stryker by 78.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock worth $45,260,000 after purchasing an additional 58,673 shares during the period. OFI Invest Asset Management raised its position in Stryker by 3,210.9% in the second quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company’s stock worth $1,062,000 after acquiring an additional 3,243 shares during the period. Tidal Investments LLC lifted its position in Stryker by 14.2% during the first quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company’s stock valued at $4,853,000 after purchasing an additional 1,681 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Stryker by 2.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company’s stock worth $210,289,000 after purchasing an additional 16,504 shares in the last quarter. Finally, Fiera Capital Corp boosted its stake in Stryker by 42.1% in the 2nd quarter. Fiera Capital Corp now owns 16,713 shares of the medical technology company’s stock worth $5,687,000 after purchasing an additional 4,948 shares during the period. Institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the topic of several research analyst reports. Robert W. Baird boosted their target price on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a 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. Royal Bank of Canada increased their target price on Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Wolfe Research assumed coverage on shares of Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price objective for the company. Finally, UBS Group upped their target price on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $393.65.

Insider Buying and Selling

In other news, insider Viju Menon sold 600 shares of the company’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 value of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. This represents a 6.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred on 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 transaction, the chief executive officer now 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 disclosure for this sale can be found here. Insiders sold a total of 67,381 shares of company stock valued at $24,825,275 over the last 90 days. Insiders own 5.50% of the company’s stock.

Stryker Trading Down 0.2 %

Stryker stock opened at $388.66 on Wednesday. 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 stock has a market cap of $148.16 billion, a PE ratio of 41.66, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. The stock has a 50-day moving average of $365.08 and a two-hundred day moving average of $348.40. Stryker Co. has a one year low of $285.79 and a one year high of $398.20.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating 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 business had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the previous year, the business earned $2.46 EPS. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, research analysts anticipate that Stryker Co. will post 12.06 EPS for the current fiscal year.

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.