FORA Capital LLC Sells 20,968 Shares of Stryker Co. (NYSE:SYK)

FORA Capital LLC cut its stake in Stryker Co. (NYSE:SYK) by 85.8% in the third quarter, Holdings Channel.com reports. The firm owned 3,482 shares of the medical technology company’s stock after selling 20,968 shares during the period. FORA Capital LLC’s holdings in Stryker were worth $1,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Stryker by 78.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock valued at $45,260,000 after purchasing an additional 58,673 shares during the period. OFI Invest Asset Management raised its stake in shares of Stryker by 3,210.9% in the 2nd quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company’s stock valued at $1,062,000 after buying an additional 3,243 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Stryker by 14.2% in the 1st quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company’s stock valued at $4,853,000 after buying an additional 1,681 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Stryker by 2.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company’s stock valued at $210,289,000 after buying an additional 16,504 shares in the last quarter. Finally, Sivik Global Healthcare LLC raised its stake in shares of Stryker by 8.0% in the 3rd quarter. Sivik Global Healthcare LLC now owns 27,000 shares of the medical technology company’s stock valued at $9,754,000 after buying an additional 2,000 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Insider Activity

In other news, 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 transaction of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the transaction, the vice president now owns 10,042 shares in the company, valued at $3,715,540. This trade represents a 17.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,781 shares of company stock valued at $24,612,275 in the last quarter. Company insiders own 5.90% of the company’s stock.

Stryker Stock Down 0.4 %

Shares of NYSE SYK opened at $388.14 on Thursday. The firm has a market capitalization of $147.97 billion, a PE ratio of 41.60, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. Stryker Co. has a 1 year low of $285.79 and a 1 year high of $398.20. The firm’s 50-day moving average is $367.50 and its 200-day moving average is $350.68.

Stryker (NYSE:SYK) last issued its earnings results 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 company had revenue of $5.49 billion for 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%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.46 EPS. Equities analysts expect that Stryker Co. will post 12.06 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Piper Sandler restated an “overweight” rating and issued a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Needham & Company LLC increased their price objective on shares of Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group increased their price objective on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. BTIG Research increased their target price on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Robert W. Baird increased their target price on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” 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, the stock has an average rating of “Moderate Buy” and an average target price of $393.65.

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.