Stryker Corporation $SYK Stock Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. cut its holdings in shares of Stryker Corporation (NYSE:SYK) by 22.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 25,118 shares of the medical technology company’s stock after selling 7,393 shares during the period. Jefferies Financial Group Inc.’s holdings in Stryker were worth $6,917,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC boosted its position in Stryker by 1,432.8% during the 3rd quarter. International Assets Investment Management LLC now owns 25,000 shares of the medical technology company’s stock worth $6,885,000 after acquiring an additional 23,369 shares during the period. Amundi grew its stake in shares of Stryker by 18.3% in the second quarter. Amundi now owns 1,246,353 shares of the medical technology company’s stock worth $392,402,000 after purchasing an additional 192,447 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Stryker by 8.2% in the second quarter. The Manufacturers Life Insurance Company now owns 859,544 shares of the medical technology company’s stock worth $270,642,000 after purchasing an additional 65,333 shares in the last quarter. Veritas Asset Management LLP acquired a new position in shares of Stryker during the second quarter valued at $168,057,000. Finally, Bank of America Corp DE acquired a new position in shares of Stryker during the second quarter valued at $1,404,284,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SYK shares. Sanford C. Bernstein restated a “market perform” rating on shares of Stryker in a research note on Wednesday, October 7th. Wolfe Research lowered shares of Stryker from an “outperform” rating to a “peer perform” rating in a research report on Thursday, August 13th. Deutsche Bank lowered their target price on shares of Stryker from $315.00 to $275.00 and set a “hold” rating on the stock in a research note on Friday, October 30th. Truist Financial reissued a “hold” rating and set a $305.00 target price (down from $310.00) on shares of Stryker in a research note on Monday, November 2nd. Finally, TD Cowen dropped their price target on shares of Stryker from $298.00 to $290.00 and set a “hold” rating on the stock in a research report on Friday, October 30th. Twenty-one equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $342.19.

Stryker Stock Performance

Shares of SYK opened at $312.17 on Friday. The firm’s 50 day moving average is $292.28 and its 200-day moving average is $322.83. The stock has a market capitalization of $118.84 billion, a P/E ratio of 33.24, a P/E/G ratio of 2.19 and a beta of 0.78. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.18 and a quick ratio of 1.30. Stryker Corporation has a 12-month low of $267.00 and a 12-month high of $389.33.

Stryker (NYSE:SYK) last released its earnings results on Thursday, October 29th. The medical technology company reported $3.52 EPS for the quarter, missing the consensus estimate of $3.55 by ($0.03). Stryker had a net margin of 13.78% and a return on equity of 23.74%. The business had revenue of $6.52 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same period in the prior year, the company earned $3.19 earnings per share. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. Equities research analysts anticipate that Stryker Corporation will post 14.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 550,000 shares of the stock in a transaction on Friday, November 6th. The stock was sold at an average price of $325.32, for a total transaction of $178,926,000.00. Following the completion of the sale, the director owned 1,701,375 shares in the company, valued at approximately $553,491,315. This represents a 24.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Debra King sold 826 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $336.30, for a total value of $277,783.80. Following the sale, the insider directly owned 6,210 shares of the company’s stock, valued at approximately $2,088,423. This represents a 11.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 901,267 shares of company stock worth $297,123,701. 4.60% of the stock is owned by insiders.

Stryker Company Profile

Stryker is a medical technology company that develops and sells products and services for healthcare providers. Its offerings include orthopedic implants and surgical equipment, neurotechnology and spine products, and medical and surgical equipment used in hospitals and other care settings. The company’s products also include patient-handling and emergency medical equipment, as well as instruments and technologies that support surgical procedures. Stryker serves healthcare customers in the United States and internationally.