LGT Capital Partners LTD. Lowers Stock Holdings in Stryker Co. (NYSE:SYK)

LGT Capital Partners LTD. lessened its position in shares of Stryker Co. (NYSE:SYK) by 7.3% in the third quarter, HoldingsChannel reports. The fund owned 281,690 shares of the medical technology company’s stock after selling 22,082 shares during the period. Stryker accounts for approximately 3.5% of LGT Capital Partners LTD.’s investment portfolio, making the stock its 10th largest holding. LGT Capital Partners LTD.’s holdings in Stryker were worth $101,763,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Centennial Bank AR boosted its holdings in Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares during the period. HBW Advisory Services LLC bought a new stake in shares of Stryker in the third quarter valued at approximately $42,000. Hara Capital LLC acquired a new stake in Stryker during the third quarter worth approximately $42,000. Grove Bank & Trust grew its holdings in shares of Stryker by 84.8% during the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 56 shares in the last quarter. Finally, DT Investment Partners LLC increased its position in shares of Stryker by 114.3% in the third quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock worth $49,000 after purchasing an additional 72 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Buying and Selling

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was 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 in the company, valued at approximately $3,715,540. This represents a 17.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,381 shares of company stock valued at $24,825,275 over the last ninety days. 5.50% of the stock is owned by corporate insiders.

Stryker Stock Performance

Shares of SYK opened at $389.40 on Tuesday. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The firm’s fifty day simple moving average is $364.61 and its two-hundred day simple moving average is $347.98. Stryker Co. has a 12 month low of $285.79 and a 12 month high of $398.20. The stock has a market capitalization of $148.45 billion, a P/E ratio of 41.74, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. The business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.46 earnings per share. As a group, analysts predict that Stryker Co. will post 12.06 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SYK shares. Evercore ISI upped their price objective on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Stifel Nicolaus decreased their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Needham & Company LLC upped their target price on Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. BTIG Research raised their target price on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Wolfe Research assumed coverage on Stryker in a report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price target for the company. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.