Keudell Morrison Wealth Management Sells 209 Shares of Stryker Co. (NYSE:SYK)

Keudell Morrison Wealth Management decreased its holdings in Stryker Co. (NYSE:SYK) by 3.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,117 shares of the medical technology company’s stock after selling 209 shares during the period. Keudell Morrison Wealth Management’s holdings in Stryker were worth $2,210,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SYK. Norden Group LLC bought a new position in shares of Stryker in the first quarter worth about $280,000. Central Pacific Bank Trust Division purchased a new stake in Stryker during the first quarter valued at approximately $39,000. Empirical Finance LLC raised its position in Stryker by 3.5% during the first quarter. Empirical Finance LLC now owns 12,039 shares of the medical technology company’s stock valued at $4,308,000 after purchasing an additional 412 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in Stryker by 43.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock valued at $6,617,000 after purchasing an additional 5,565 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in Stryker during the first quarter valued at approximately $4,362,000. Institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

Shares of NYSE:SYK traded down $2.32 during midday trading on Thursday, reaching $366.70. 61,034 shares of the company’s stock traded hands, compared to its average volume of 1,251,931. Stryker Co. has a 1 year low of $266.93 and a 1 year high of $376.04. The company has a market cap of $139.79 billion, a P/E ratio of 39.55, a PEG ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The company has a fifty day simple moving average of $360.91 and a two-hundred day simple moving average of $345.12.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the prior year, the company earned $2.46 EPS. The firm’s revenue was up 11.9% compared to the same quarter last year. Equities analysts predict that Stryker Co. will post 12.06 EPS for the current fiscal year.

Analyst Ratings Changes

SYK has been the topic of a number of recent research reports. Citigroup upped their price objective on Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Evercore ISI upped their price objective on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Morgan Stanley increased their price target on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Finally, Barclays increased their price target on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $393.65.

Insider Activity at Stryker

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,685,213.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,685,213.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Viju Menon sold 600 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,068 shares of company stock valued at $3,693,972. 5.50% of the stock is owned by insiders.

About Stryker

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.