First Long Island Investors LLC Lowers Stake in Stryker Co. (NYSE:SYK)

First Long Island Investors LLC lessened its holdings in Stryker Co. (NYSE:SYK) by 3.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 880 shares of the medical technology company’s stock after selling 35 shares during the quarter. First Long Island Investors LLC’s holdings in Stryker were worth $318,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Simplify Asset Management Inc. raised its position in Stryker by 64.1% in the 3rd quarter. Simplify Asset Management Inc. now owns 1,812 shares of the medical technology company’s stock worth $655,000 after purchasing an additional 708 shares during the period. Bank of Marin boosted its stake in shares of Stryker by 3.4% during the 3rd quarter. Bank of Marin now owns 2,301 shares of the medical technology company’s stock valued at $831,000 after purchasing an additional 75 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Stryker by 6.5% during the 3rd quarter. Empowered Funds LLC now owns 6,504 shares of the medical technology company’s stock valued at $2,350,000 after purchasing an additional 399 shares in the last quarter. Empirical Finance LLC boosted its stake in Stryker by 2.4% during the third quarter. Empirical Finance LLC now owns 11,556 shares of the medical technology company’s stock worth $4,175,000 after acquiring an additional 269 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC boosted its stake in Stryker by 3.9% during the third quarter. Signature Estate & Investment Advisors LLC now owns 1,459 shares of the medical technology company’s stock worth $527,000 after acquiring an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

SYK has been the subject of several recent analyst reports. Robert W. Baird lifted their target price on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their price objective on shares of Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Evercore ISI upped their target price on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Royal Bank of Canada increased their price objective on shares of Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Needham & Company LLC increased their price objective on shares of Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $393.65.

Insider Activity

In other news, insider Viju Menon sold 600 shares of Stryker 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 transaction, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. The trade was a 6.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,685,213.16. The trade was a 42.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,381 shares of company stock worth $24,825,275. 5.90% of the stock is currently owned by corporate insiders.

Stryker Trading Up 2.0 %

Shares of Stryker stock traded up $7.55 during trading on Friday, hitting $390.83. The stock had a trading volume of 503,943 shares, compared to its average volume of 1,256,009. The firm’s fifty day simple moving average is $363.45 and its 200-day simple moving average is $346.97. The stock has a market cap of $148.99 billion, a PE ratio of 41.26, a PEG ratio of 2.93 and a beta of 0.91. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. Stryker Co. has a 12 month low of $282.35 and a 12 month high of $392.70.

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

Stryker Company 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.