25,892 Stryker Corporation $SYK Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp lowered its stake in Stryker Corporation (NYSE:SYK) by 6.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 403,654 shares of the medical technology company’s stock after selling 25,892 shares during the period. King Luther Capital Management Corp owned approximately 0.11% of Stryker worth $111,162,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Bank of America Corp DE acquired a new position in shares of Stryker in the second quarter valued at approximately $1,404,284,000. Legal & General Group Plc acquired a new stake in Stryker during the 2nd quarter worth approximately $707,212,000. Jupiter Topco LLC acquired a new stake in Stryker during the 2nd quarter worth approximately $681,581,000. Corient Private Wealth LP acquired a new stake in Stryker during the 2nd quarter worth approximately $323,035,000. Finally, Flossbach Von Storch SE bought a new stake in Stryker in the 2nd quarter valued at $464,506,000. 77.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SYK shares. Robert W. Baird decreased their price objective on Stryker from $385.00 to $334.00 in a report on Friday, October 30th. Piper Sandler lifted their target price on Stryker from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday. BTIG Research reduced their target price on shares of Stryker from $316.00 to $304.00 and set a “buy” rating for the company in a research report on Friday, October 30th. TD Cowen reduced their target price on shares of Stryker from $298.00 to $290.00 and set a “hold” rating for the company in a research report on Friday, October 30th. Finally, Evercore upped their price target on shares of Stryker from $335.00 to $355.00 in a research note on Wednesday, October 28th. Twenty-one analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $342.19.

Stryker Stock Down 1.7%

NYSE SYK opened at $318.67 on Thursday. The company has a current ratio of 2.18, a quick ratio of 1.30 and a debt-to-equity ratio of 0.60. The company has a market cap of $121.31 billion, a price-to-earnings ratio of 33.94, a PEG ratio of 2.23 and a beta of 0.78. The company has a 50 day moving average of $292.27 and a 200-day moving average of $323.05. Stryker Corporation has a 1-year low of $267.00 and a 1-year high of $389.33.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, October 29th. The medical technology company reported $3.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.55 by ($0.03). Stryker had a return on equity of 23.74% and a net margin of 13.78%. 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 earned $3.19 EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts expect that Stryker Corporation will post 14.85 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Dylan Crotty sold 441 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $328.61, for a total value of $144,917.01. Following the transaction, the insider owned 6,102 shares in the company, valued at approximately $2,005,178.22. This trade represents a 6.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Debra King sold 826 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total value of $277,783.80. Following the completion of the transaction, the insider directly owned 6,210 shares of the company’s stock, valued at approximately $2,088,423. This trade represents a 11.74% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 901,267 shares of company stock worth $297,123,701. 4.60% of the stock is currently owned by company 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.