First Nebraska Trust Co Buys 15,025 Shares of Stryker Corporation $SYK

First Nebraska Trust Co bought a new stake in Stryker Corporation (NYSE:SYK) during the third quarter, Holdings Channel.com reports. The fund bought 15,025 shares of the medical technology company’s stock, valued at approximately $4,137,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Community Bank & Trust Waco Texas boosted its stake in Stryker by 2.3% in the second quarter. Community Bank & Trust Waco Texas now owns 1,395 shares of the medical technology company’s stock valued at $439,000 after acquiring an additional 31 shares in the last quarter. Cornerstone Financial Management LLC grew its holdings in shares of Stryker by 66.0% during the second quarter. Cornerstone Financial Management LLC now owns 78 shares of the medical technology company’s stock worth $25,000 after purchasing an additional 31 shares during the last quarter. NWF Advisory Services Inc. increased its position in shares of Stryker by 2.3% during the second quarter. NWF Advisory Services Inc. now owns 1,472 shares of the medical technology company’s stock worth $463,000 after purchasing an additional 33 shares in the last quarter. Harold Davidson & Associates Inc. increased its position in shares of Stryker by 0.4% during the first quarter. Harold Davidson & Associates Inc. now owns 8,668 shares of the medical technology company’s stock worth $2,848,000 after purchasing an additional 34 shares in the last quarter. Finally, Private Harbour Investment Management & Counsel LLC increased its position in shares of Stryker by 0.9% during the second quarter. Private Harbour Investment Management & Counsel LLC now owns 3,927 shares of the medical technology company’s stock worth $1,236,000 after purchasing an additional 34 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Key Stryker News

Here are the key news stories impacting Stryker this week:

• Positive Sentiment: JPMorgan Chase & Co. maintained an “overweight” rating and sees potential upside to its $340 price target, though it cut that target from $350. JPMorgan analyst update
• Neutral Sentiment: A Stryker stock forecast and price-target page was published, but the supplied entry contains no specific forecast or rating change. Stryker stock forecast
• Negative Sentiment: Truist reaffirmed its “hold” rating and lowered its target to $305 from $310, below the cited share price of $310.67. Truist rating update
• Negative Sentiment: Other firms also cut their price targets: Citizens JMP, Citigroup, TD Cowen, and Barclays. Canaccord Genuity moved its rating to “hold.” The supplied headlines do not provide the revised targets, but the cluster of reductions and downgrade signals more cautious analyst sentiment. Citizens JMP target cut Citigroup target trim TD Cowen target cut Barclays target cut Canaccord rating change

Insider Activity

In other Stryker news, 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 directly owned 6,102 shares of the company’s stock, 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 filing with the SEC, which is accessible through the SEC website. Also, insider Debra King sold 826 shares of the firm’s stock in a transaction that occurred on 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 $2,088,423. The trade was a 11.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 351,267 shares of company stock worth $118,197,701 in the last 90 days. 4.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SYK has been the subject of a number of research analyst reports. Piper Sandler decreased their target price on Stryker from $420.00 to $390.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. BMO Capital Markets reaffirmed an “outperform” rating and set a $309.00 price target on shares of Stryker in a research report on Friday. Royal Bank Of Canada cut their price target on Stryker from $420.00 to $375.00 and set an “outperform” rating on the stock in a research report on Friday. Weiss Ratings reiterated a “hold (c)” rating on shares of Stryker in a research note on Thursday, October 29th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $323.00 price objective on shares of Stryker in a report on Friday. Sixteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and a consensus target price of $355.04.

Stryker Price Performance

Shares of SYK opened at $310.67 on Wednesday. Stryker Corporation has a fifty-two week low of $267.00 and a fifty-two week high of $389.33. The company has a market capitalization of $118.27 billion, a price-to-earnings ratio of 33.08, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The firm has a 50-day simple moving average of $292.03 and a 200-day simple moving average of $324.02. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.30 and a current ratio of 2.18.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, October 29th. The medical technology company reported $3.52 earnings per share for the quarter, missing analysts’ consensus estimates of $3.55 by ($0.03). The firm had revenue of $6.52 billion during the quarter, compared to analysts’ expectations of $6.62 billion. Stryker had a net margin of 13.78% and a return on equity of 23.74%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the business earned $3.19 earnings per share. On average, equities research analysts anticipate that Stryker Corporation will post 14.85 earnings per share for the current year.

Stryker Profile

Stryker Corporation (NYSE: SYK) is a global medical technology company that develops and manufactures products used by healthcare providers in hospitals, surgical centers and other clinical settings. Its offerings are designed to support orthopaedic procedures, surgery, emergency care, neurovascular treatment and patient handling.

The company’s product portfolio includes orthopaedic implants and instruments, products for trauma and spine procedures, surgical equipment, endoscopy systems, patient beds and stretchers, emergency medical equipment, and neurovascular devices used in the treatment of conditions such as stroke.