Moran Wealth Management LLC Lowers Stake in Stryker Co. (NYSE:SYK)

Moran Wealth Management LLC lessened its holdings in shares of Stryker Co. (NYSE:SYK) by 2.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,927 shares of the medical technology company’s stock after selling 267 shares during the period. Moran Wealth Management LLC’s holdings in Stryker were worth $2,724,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Freedom Wealth Alliance LLC purchased a new stake in shares of Stryker during the 4th quarter valued at $26,000. Quarry LP purchased a new stake in shares of Stryker during the 1st quarter valued at $27,000. Bay Harbor Wealth Management LLC purchased a new stake in shares of Stryker during the 2nd quarter valued at $31,000. Altshuler Shaham Ltd purchased a new stake in shares of Stryker during the 1st quarter valued at $33,000. Finally, Cascade Investment Advisors Inc. purchased a new position in Stryker in the 1st quarter worth $34,000. Hedge funds and other institutional investors own 76.24% of the company’s stock.

Stryker Price Performance

SYK stock opened at $289.29 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.48 and a quick ratio of 0.83. The business has a 50 day simple moving average of $274.86 and a 200-day simple moving average of $282.47. The firm has a market capitalization of $109.90 billion, a PE ratio of 42.92, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94. Stryker Co. has a 1 year low of $222.65 and a 1 year high of $306.93.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, November 2nd. The medical technology company reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.03. The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.87 billion. Stryker had a return on equity of 22.62% and a net margin of 13.00%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.12 earnings per share. Equities research analysts anticipate that Stryker Co. will post 10.41 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Viju Menon sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $289.00, for a total value of $1,445,000.00. Following the transaction, the insider now directly owns 6,994 shares in the company, valued at $2,021,266. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Srikant M. Datar sold 500 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $291.92, for a total value of $145,960.00. Following the transaction, the director now directly owns 4,316 shares in the company, valued at $1,259,926.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Viju Menon sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $289.00, for a total value of $1,445,000.00. Following the completion of the transaction, the insider now owns 6,994 shares in the company, valued at $2,021,266. The disclosure for this sale can be found here. Insiders sold 6,250 shares of company stock worth $1,806,638 over the last ninety days. Corporate insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SYK shares. UBS Group raised their target price on Stryker from $289.00 to $297.00 and gave the stock a “neutral” rating in a research note on Thursday, November 9th. Roth Mkm reaffirmed a “buy” rating and set a $345.00 price target on shares of Stryker in a research report on Thursday, November 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $325.00 price target on shares of Stryker in a research report on Thursday, August 17th. Morgan Stanley increased their price target on Stryker from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Monday, August 7th. Finally, Bank of America upgraded Stryker from a “neutral” rating to a “buy” rating and lifted their price target for the company from $310.00 to $315.00 in a research note on Tuesday, September 5th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $311.30.

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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.