Stryker Co. (NYSE:SYK) Shares Sold by Arete Wealth Advisors LLC

Arete Wealth Advisors LLC cut its holdings in shares of Stryker Co. (NYSE:SYK) by 23.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,085 shares of the medical technology company’s stock after selling 332 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Stryker were worth $392,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Dunhill Financial LLC increased its position in Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares during the last quarter. Centennial Bank AR boosted its holdings in Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 48 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in Stryker during the third quarter worth about $36,000. Hara Capital LLC acquired a new stake in Stryker during the third quarter worth about $42,000. Finally, HBW Advisory Services LLC purchased a new position in shares of Stryker in the 3rd quarter worth about $42,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Stock Performance

Shares of NYSE SYK opened at $392.15 on Friday. Stryker Co. has a one year low of $285.79 and a one year high of $398.20. The business’s 50-day moving average price is $368.51 and its two-hundred day moving average price is $351.41. 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 company has a market capitalization of $149.50 billion, a P/E ratio of 42.03, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.10. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. Stryker’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.46 EPS. Analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Insider Activity

In other news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. This represents a 17.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. This trade 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 have sold 66,781 shares of company stock valued at $24,612,275. Insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SYK. Evercore ISI boosted their target price on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. BTIG Research boosted their price objective on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Barclays lifted their target price on shares of Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Canaccord Genuity Group boosted their price objective on shares of Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company upped their target price on Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.