Stryker Corporation $SYK Stock: Calamos Wealth Management LLC Decreases Stake

Calamos Wealth Management LLC decreased its stake in shares of Stryker Corporation (NYSE:SYK) by 4.4% during the third quarter, HoldingsChannel.com reports. The fund owned 41,892 shares of the medical technology company’s stock after selling 1,950 shares during the period. Calamos Wealth Management LLC’s holdings in Stryker were worth $11,537,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. State Street Corp boosted its position in Stryker by 1.2% during the second quarter. State Street Corp now owns 15,532,565 shares of the medical technology company’s stock worth $4,903,772,000 after purchasing an additional 183,400 shares during the period. Wellington Management Group LLP grew its holdings in Stryker by 0.6% during the second quarter. Wellington Management Group LLP now owns 8,167,185 shares of the medical technology company’s stock valued at $2,571,357,000 after purchasing an additional 45,478 shares during the last quarter. Bank of America Corp DE bought a new position in shares of Stryker in the second quarter valued at approximately $1,404,284,000. Royal Bank of Canada raised its position in shares of Stryker by 6.5% in the first quarter. Royal Bank of Canada now owns 3,273,232 shares of the medical technology company’s stock valued at $1,075,552,000 after purchasing an additional 199,863 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Stryker by 21.8% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,689,376 shares of the medical technology company’s stock worth $846,723,000 after buying an additional 481,175 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Insider Buying and Selling at Stryker

In other news, insider Debra King sold 826 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $336.30, for a total transaction of $277,783.80. Following the sale, the insider directly owned 6,210 shares in the company, valued at approximately $2,088,423. The trade was a 11.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Dylan Crotty sold 441 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $328.61, for a total value of $144,917.01. Following the completion of the transaction, the insider owned 6,102 shares of the company’s stock, valued at $2,005,178.22. The trade was a 6.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 351,267 shares of company stock valued at $118,197,701 in the last quarter. Corporate insiders own 4.60% of the company’s stock.

Stryker Stock Performance

NYSE SYK traded down $9.81 during midday trading on Friday, hitting $325.26. The company had a trading volume of 3,778,566 shares, compared to its average volume of 2,751,012. The firm has a fifty day simple moving average of $292.37 and a two-hundred day simple moving average of $323.59. Stryker Corporation has a fifty-two week low of $267.00 and a fifty-two week high of $389.33. The company has a quick ratio of 1.30, a current ratio of 2.18 and a debt-to-equity ratio of 0.60. The stock has a market cap of $123.83 billion, a price-to-earnings ratio of 34.64, a P/E/G ratio of 2.11 and a beta of 0.78.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, October 29th. The medical technology company reported $3.52 EPS for the quarter, missing analysts’ consensus estimates of $3.55 by ($0.03). Stryker had a net margin of 13.78% and a return on equity of 23.74%. The company 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 posted $3.19 EPS. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. Equities analysts forecast that Stryker Corporation will post 14.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Canaccord Genuity Group lowered shares of Stryker from a “buy” rating to a “hold” rating and lowered their target price for the company from $385.00 to $300.00 in a research note on Friday, October 30th. Piper Sandler cut their target price on shares of Stryker from $420.00 to $390.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. BTIG Research dropped their price objective on Stryker from $316.00 to $304.00 and set a “buy” rating on the stock in a research note on Friday, October 30th. Wells Fargo & Company decreased their target price on Stryker from $418.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, September 9th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $309.00 target price (down from $317.00) on shares of Stryker in a report on Friday, October 30th. Twenty-one investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $343.73.

About Stryker

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.

Founded in 1941 by orthopedic surgeon Dr.