Advisors Asset Management Inc. Sells 2,337 Shares of Stryker Co. (NYSE:SYK)

Advisors Asset Management Inc. trimmed its position in Stryker Co. (NYSE:SYK) by 7.6% during the third quarter, HoldingsChannel.com reports. The firm owned 28,491 shares of the medical technology company’s stock after selling 2,337 shares during the quarter. Advisors Asset Management Inc.’s holdings in Stryker were worth $10,293,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SYK. Centennial Bank AR increased its position in shares of 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 last quarter. HBW Advisory Services LLC bought a new position in shares of Stryker in the third quarter valued at $42,000. Hara Capital LLC acquired a new position in Stryker during the third quarter worth $42,000. Grove Bank & Trust raised its position in Stryker by 84.8% during the third 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. Finally, DT Investment Partners LLC lifted its stake in Stryker by 114.3% in the third quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock valued at $49,000 after acquiring an additional 72 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Price Performance

Shares of NYSE:SYK opened at $385.68 on Thursday. The firm has a 50 day simple moving average of $365.46 and a 200 day simple moving average of $348.66. The company has a market cap of $147.03 billion, a price-to-earnings ratio of 41.34, a PEG ratio of 2.93 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. Stryker Co. has a one year low of $285.79 and a one year high of $398.20.

Stryker (NYSE:SYK) last issued 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 company had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the prior year, the firm posted $2.46 earnings per share. The business’s quarterly revenue was up 11.9% on a year-over-year basis. Research analysts predict that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction 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 directly owns 10,042 shares in the company, valued at approximately $3,715,540. This represents a 17.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,381 shares of company stock valued at $24,825,275. 5.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SYK shares. Barclays boosted their price objective on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Evercore ISI upped their price objective on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Stifel Nicolaus decreased their target price on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Royal Bank of Canada increased their price target on Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Canaccord Genuity Group boosted their price objective on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Stryker has an average rating of “Moderate Buy” and an average target price of $393.65.

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.