Stryker Co. (NYSE:SYK) Stock Position Reduced by Lincoln National Corp

Lincoln National Corp reduced its position in shares of Stryker Co. (NYSE:SYK) by 1.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,949 shares of the medical technology company’s stock after selling 105 shares during the period. Lincoln National Corp’s holdings in Stryker were worth $2,081,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in SYK. Verdence Capital Advisors LLC raised its position in Stryker by 9.2% in the third quarter. Verdence Capital Advisors LLC now owns 1,017 shares of the medical technology company’s stock worth $278,000 after acquiring an additional 86 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Stryker by 16.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 95,382 shares of the medical technology company’s stock valued at $26,066,000 after buying an additional 13,307 shares in the last quarter. Park Avenue Securities LLC acquired a new position in Stryker during the third quarter valued at $2,307,000. Catalyst Financial Partners LLC lifted its stake in Stryker by 11.6% in the 3rd quarter. Catalyst Financial Partners LLC now owns 1,120 shares of the medical technology company’s stock worth $306,000 after acquiring an additional 116 shares in the last quarter. Finally, Rockland Trust Co. grew its stake in Stryker by 8.2% during the 3rd quarter. Rockland Trust Co. now owns 3,136 shares of the medical technology company’s stock valued at $857,000 after acquiring an additional 238 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of Stryker stock traded down $2.51 during midday trading on Wednesday, hitting $329.63. The company had a trading volume of 355,168 shares, compared to its average volume of 1,320,698. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.99. The stock has a market cap of $125.57 billion, a PE ratio of 37.92, a P/E/G ratio of 2.54 and a beta of 0.91. The business’s 50 day simple moving average is $346.05 and its two-hundred day simple moving average is $318.84. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The firm had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.14 EPS. As a group, equities analysts predict that Stryker Co. will post 11.94 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on SYK shares. Evercore ISI lifted their price objective on Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. TD Cowen raised their price objective on shares of Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Needham & Company LLC reissued a “hold” rating on shares of Stryker in a research report on Wednesday, May 1st. UBS Group raised their price target on shares of Stryker from $339.00 to $351.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Finally, Piper Sandler upped their price objective on shares of Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $365.94.

About Stryker

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.