Oak Ridge Investments LLC decreased its position in shares of Stryker Corporation (NYSE:SYK) by 10.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,046 shares of the medical technology company’s stock after selling 9,612 shares during the period. Oak Ridge Investments LLC’s holdings in Stryker Corporation were worth $11,652,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC purchased a new position in shares of Stryker Corporation in the second quarter worth about $111,000. Bollard Group LLC grew its stake in shares of Stryker Corporation by 0.4% in the second quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock worth $115,000 after purchasing an additional 3 shares during the last quarter. Motco grew its stake in shares of Stryker Corporation by 50.7% in the second quarter. Motco now owns 826 shares of the medical technology company’s stock worth $115,000 after purchasing an additional 278 shares during the last quarter. Bruderman Asset Management LLC bought a new stake in shares of Stryker Corporation in the second quarter worth about $150,000. Finally, James Investment Research Inc. bought a new stake in shares of Stryker Corporation in the second quarter worth about $155,000. Institutional investors and hedge funds own 74.15% of the company’s stock.
Stryker Corporation (SYK) traded up $1.68 during midday trading on Friday, hitting $156.48. 1,281,600 shares of the stock were exchanged, compared to its average volume of 1,179,819. The company has a current ratio of 2.37, a quick ratio of 1.61 and a debt-to-equity ratio of 0.63. Stryker Corporation has a 1 year low of $108.29 and a 1 year high of $160.62. The company has a market capitalization of $57,931.98, a P/E ratio of 24.53, a PEG ratio of 2.44 and a beta of 0.79.
Stryker Corporation (NYSE:SYK) last announced its earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.02. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.97 billion. Stryker Corporation had a net margin of 14.67% and a return on equity of 24.11%. Stryker Corporation’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the firm earned $1.39 earnings per share. equities research analysts expect that Stryker Corporation will post 6.47 earnings per share for the current year.
Several analysts have weighed in on the company. Zacks Investment Research cut Stryker Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Robert W. Baird raised Stryker Corporation from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $161.00 to $173.00 in a research report on Thursday. BidaskClub raised Stryker Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Cowen and Company reissued a “buy” rating and issued a $160.00 price target (up from $150.00) on shares of Stryker Corporation in a research report on Sunday, July 30th. Finally, Oppenheimer Holdings, Inc. set a $148.00 price target on Stryker Corporation and gave the stock a “hold” rating in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $152.10.
In related news, insider Lonny J. Carpenter sold 5,000 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $155.34, for a total transaction of $776,700.00. Following the completion of the transaction, the insider now owns 83,207 shares of the company’s stock, valued at $12,925,375.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 7.40% of the stock is owned by company insiders.
Stryker Corporation Profile
Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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