Hancock Whitney Corp Reduces Holdings in Stryker Co. (NYSE:SYK)

Hancock Whitney Corp reduced its stake in Stryker Co. (NYSE:SYK) by 4.3% during the third quarter, Holdings Channel.com reports. The firm owned 4,570 shares of the medical technology company’s stock after selling 205 shares during the period. Hancock Whitney Corp’s holdings in Stryker were worth $1,651,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mount Yale Investment Advisors LLC bought a new position in Stryker in the 1st quarter worth $305,000. Bayesian Capital Management LP purchased a new stake in Stryker in the first quarter worth about $895,000. Kennedy Capital Management LLC bought a new stake in Stryker during the 1st quarter valued at approximately $957,000. Tidal Investments LLC grew its holdings in shares of Stryker by 14.2% during the 1st quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company’s stock worth $4,853,000 after acquiring an additional 1,681 shares during the period. Finally, Coppell Advisory Solutions Corp. bought a new position in shares of Stryker in the 1st quarter worth approximately $414,000. Institutional investors own 77.09% of the company’s stock.

Insiders Place Their Bets

In related news, VP M Kathryn Fink sold 2,121 shares of the firm’s 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 transaction, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. This trade represents a 17.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kevin Lobo sold 57,313 shares of the company’s 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 sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,781 shares of company stock valued at $24,612,275. Company insiders own 5.50% of the company’s stock.

Stryker Trading Down 0.1 %

Stryker stock opened at $384.63 on Tuesday. Stryker Co. has a one year low of $285.79 and a one year high of $398.20. The business’s fifty day moving average is $366.45 and its 200 day moving average is $350.00. 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 stock has a market capitalization of $146.63 billion, a PE ratio of 41.23, a price-to-earnings-growth ratio of 2.90 and a beta of 0.91.

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

Analysts Set New Price Targets

SYK has been the topic of several recent research reports. Wells Fargo & Company upped their price target on Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Evercore ISI increased their price target on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Citigroup boosted their price objective 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. BTIG Research raised their target price on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Needham & Company LLC boosted their price target on Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company 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.