Wellington Shields Capital Management LLC Lowers Holdings in Stryker Co. (NYSE:SYK)

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Wellington Shields Capital Management LLC trimmed its holdings in Stryker Co. (NYSE:SYK) by 37.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,150 shares of the medical technology company’s stock after selling 700 shares during the period. Wellington Shields Capital Management LLC’s holdings in Stryker were worth $249,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Stryker by 2.1% in the second quarter. Vanguard Group Inc. now owns 26,735,288 shares of the medical technology company’s stock worth $5,496,241,000 after buying an additional 555,327 shares in the last quarter. Northern Trust Corp lifted its position in shares of Stryker by 0.5% in the second quarter. Northern Trust Corp now owns 3,922,830 shares of the medical technology company’s stock worth $806,455,000 after buying an additional 19,248 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of Stryker by 20,218.6% in the second quarter. Nuveen Asset Management LLC now owns 2,596,110 shares of the medical technology company’s stock worth $533,708,000 after buying an additional 2,583,333 shares in the last quarter. Morgan Stanley lifted its position in shares of Stryker by 3.4% in the second quarter. Morgan Stanley now owns 1,826,762 shares of the medical technology company’s stock worth $375,547,000 after buying an additional 59,305 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Stryker by 3.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,357,591 shares of the medical technology company’s stock worth $279,094,000 after buying an additional 44,907 shares in the last quarter. Institutional investors and hedge funds own 73.13% of the company’s stock.

A number of research firms recently commented on SYK. Canaccord Genuity boosted their target price on Stryker from $233.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Raymond James set a $240.00 target price on Stryker and gave the stock a “buy” rating in a research report on Friday, July 26th. Robert W. Baird boosted their target price on Stryker from $239.00 to $242.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Credit Suisse Group boosted their target price on Stryker from $232.00 to $237.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, BTIG Research set a $228.00 target price on Stryker and gave the stock a “buy” rating in a research report on Thursday, September 5th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $220.17.

In other Stryker news, CEO Kevin Lobo sold 19,286 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $215.71, for a total transaction of $4,160,183.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Srikant M. Datar sold 350 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $215.00, for a total value of $75,250.00. Following the transaction, the director now directly owns 6,844 shares in the company, valued at approximately $1,471,460. The disclosure for this sale can be found here. Insiders have sold 67,524 shares of company stock worth $14,731,927 over the last three months. 7.20% of the stock is currently owned by insiders.

NYSE SYK traded up $1.76 during trading hours on Tuesday, hitting $200.18. 1,277,792 shares of the company were exchanged, compared to its average volume of 1,231,268. The stock has a 50-day moving average price of $211.87 and a 200 day moving average price of $205.88. The company has a quick ratio of 1.35, a current ratio of 2.18 and a debt-to-equity ratio of 0.64. Stryker Co. has a 52 week low of $144.75 and a 52 week high of $223.45. The stock has a market cap of $74.74 billion, a PE ratio of 27.38, a price-to-earnings-growth ratio of 2.45 and a beta of 0.80.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $1.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.01. Stryker had a return on equity of 25.33% and a net margin of 23.55%. The company had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.58 billion. During the same period in the previous year, the firm posted $1.69 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Stryker Co. will post 8.23 earnings per share for the current year.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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