Orbimed Advisors LLC reduced its holdings in shares of Stryker Co. (NYSE:SYK) by 39.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,400 shares of the medical technology company’s stock after selling 92,900 shares during the period. Orbimed Advisors LLC’s holdings in Stryker were worth $24,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in SYK. BlackRock Inc. increased its holdings in shares of Stryker by 2.7% in the second quarter. BlackRock Inc. now owns 24,551,677 shares of the medical technology company’s stock valued at $4,145,795,000 after purchasing an additional 646,505 shares during the period. FMR LLC increased its holdings in shares of Stryker by 24.0% in the second quarter. FMR LLC now owns 5,327,862 shares of the medical technology company’s stock valued at $899,662,000 after purchasing an additional 1,032,333 shares during the period. Morgan Stanley increased its holdings in shares of Stryker by 7.3% in the second quarter. Morgan Stanley now owns 2,305,235 shares of the medical technology company’s stock valued at $389,262,000 after purchasing an additional 157,400 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Stryker by 3.2% in the second quarter. Wells Fargo & Company MN now owns 2,037,752 shares of the medical technology company’s stock valued at $344,094,000 after purchasing an additional 63,251 shares during the period. Finally, Carmignac Gestion boosted its stake in shares of Stryker by 36.6% in the first quarter. Carmignac Gestion now owns 1,599,867 shares of the medical technology company’s stock worth $257,451,000 after buying an additional 428,789 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors.

In related news, VP Katherine Ann Owen sold 37,866 shares of the stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $166.84, for a total value of $6,317,563.44. Following the completion of the sale, the vice president now owns 11,367 shares of the company’s stock, valued at $1,896,470.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 7.40% of the stock is currently owned by company insiders.

NYSE SYK opened at $173.07 on Friday. The company has a market capitalization of $64.81 billion, a PE ratio of 26.67, a PEG ratio of 2.43 and a beta of 0.59. Stryker Co. has a 1-year low of $138.94 and a 1-year high of $179.84. The company has a current ratio of 1.83, a quick ratio of 1.15 and a debt-to-equity ratio of 0.63.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, July 24th. The medical technology company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.03. Stryker had a return on equity of 26.93% and a net margin of 8.28%. The business had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same quarter last year, the business posted $1.53 earnings per share. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. research analysts predict that Stryker Co. will post 7.25 earnings per share for the current fiscal year.

A number of brokerages have recently commented on SYK. Zacks Investment Research upgraded Stryker from a “hold” rating to a “buy” rating and set a $196.00 target price on the stock in a research note on Friday, June 1st. Citigroup upped their target price on Stryker from $171.00 to $173.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 25th. Sanford C. Bernstein began coverage on Stryker in a research note on Wednesday, June 27th. They issued a “market perform” rating and a $177.00 target price on the stock. Cantor Fitzgerald upped their target price on Stryker from $170.00 to $175.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 25th. Finally, JPMorgan Chase & Co. upped their target price on Stryker to $200.00 and gave the stock an “overweight” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company. Stryker presently has a consensus rating of “Buy” and an average price target of $178.33.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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