Stryker Corporation $SYK Stock Position Reduced by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS reduced its position in shares of Stryker Corporation (NYSE:SYK) by 59.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,542 shares of the medical technology company’s stock after selling 2,294 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Stryker were worth $425,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Community Bank & Trust Waco Texas raised its holdings in shares of Stryker by 2.3% in the 2nd quarter. Community Bank & Trust Waco Texas now owns 1,395 shares of the medical technology company’s stock valued at $439,000 after buying an additional 31 shares during the period. Cornerstone Financial Management LLC boosted its holdings in Stryker by 66.0% during the 2nd quarter. Cornerstone Financial Management LLC now owns 78 shares of the medical technology company’s stock valued at $25,000 after acquiring an additional 31 shares during the period. NWF Advisory Services Inc. boosted its holdings in Stryker by 2.3% during the 2nd quarter. NWF Advisory Services Inc. now owns 1,472 shares of the medical technology company’s stock valued at $463,000 after acquiring an additional 33 shares during the period. Private Harbour Investment Management & Counsel LLC boosted its holdings in Stryker by 0.9% during the 2nd quarter. Private Harbour Investment Management & Counsel LLC now owns 3,927 shares of the medical technology company’s stock valued at $1,236,000 after acquiring an additional 34 shares during the period. Finally, Natural Investments LLC grew its position in Stryker by 1.2% in the 2nd quarter. Natural Investments LLC now owns 2,789 shares of the medical technology company’s stock valued at $878,000 after acquiring an additional 34 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Price Performance

Shares of SYK opened at $324.00 on Wednesday. The firm has a market capitalization of $123.34 billion, a price-to-earnings ratio of 34.50, a PEG ratio of 2.24 and a beta of 0.78. The firm’s fifty day simple moving average is $292.25 and its 200-day simple moving average is $323.23. Stryker Corporation has a twelve month low of $267.00 and a twelve month high of $389.33. The company has a current ratio of 2.18, a quick ratio of 1.30 and a debt-to-equity ratio of 0.60.

Stryker (NYSE:SYK) last issued its earnings results 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). The firm had revenue of $6.52 billion for the quarter, compared to analyst estimates of $6.62 billion. Stryker had a return on equity of 23.74% and a net margin of 13.78%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.19 EPS. Equities analysts forecast that Stryker Corporation will post 14.84 EPS for the current fiscal year.

Analysts Set New Price Targets

SYK has been the topic of a number of recent research reports. Canaccord Genuity Group lowered shares of Stryker from a “buy” rating to a “hold” rating and cut their price target for the stock from $385.00 to $300.00 in a research note on Friday, October 30th. Raymond James Financial reissued an “outperform” rating and issued a $323.00 price objective (down from $370.00) on shares of Stryker in a research note on Friday, October 30th. JPMorgan Chase & Co. lowered their price objective on shares of Stryker from $350.00 to $340.00 and set an “overweight” rating for the company in a research note on Friday, October 30th. Royal Bank Of Canada dropped their price objective on shares of Stryker from $420.00 to $375.00 and set an “outperform” rating for the company in a report on Friday, October 30th. Finally, TD Cowen cut their target price on shares of Stryker from $298.00 to $290.00 and set a “hold” rating on the stock in a research note 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 company currently has an average rating of “Moderate Buy” and a consensus price target of $342.19.

Insiders Place Their Bets

In other news, insider Debra King sold 826 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $336.30, for a total value of $277,783.80. Following the transaction, the insider owned 6,210 shares in the company, valued at approximately $2,088,423. This represents a 11.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Dylan Crotty sold 441 shares of the stock in a transaction dated 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 in the company, valued at approximately $2,005,178.22. The trade was a 6.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 901,267 shares of company stock valued at $297,123,701 in the last ninety days. Insiders own 4.60% of the company’s stock.

Stryker 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.