Citigroup Inc. Decreases Holdings in Stryker Co. (NYSE:SYK)

Citigroup Inc. lowered its holdings in Stryker Co. (NYSE:SYK) by 6.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 276,683 shares of the medical technology company’s stock after selling 20,069 shares during the quarter. Citigroup Inc. owned about 0.07% of Stryker worth $99,955,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CreativeOne Wealth LLC lifted its position in shares of Stryker by 55.7% during the 1st quarter. CreativeOne Wealth LLC now owns 1,924 shares of the medical technology company’s stock worth $688,000 after buying an additional 688 shares during the last quarter. Gamco Investors INC. ET AL acquired a new position in Stryker in the first quarter valued at $5,034,000. LRI Investments LLC acquired a new position in Stryker in the first quarter valued at $107,000. Magnetar Financial LLC purchased a new position in shares of Stryker during the first quarter worth about $773,000. Finally, Fairview Capital Investment Management LLC acquired a new stake in shares of Stryker during the first quarter worth about $215,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of research analyst reports. BTIG Research upped their target price on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Evercore ISI increased their price objective on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a report on Friday. Citigroup increased their price target on shares of Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Piper Sandler reissued an “overweight” rating and set a $420.00 price objective (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $393.65.

Stryker Stock Down 1.3 %

SYK opened at $384.88 on Friday. The business has a 50 day simple moving average of $366.20 and a 200-day simple moving average of $349.36. Stryker Co. has a 12 month low of $285.79 and a 12 month high of $398.20. The stock has a market capitalization of $146.72 billion, a P/E ratio of 41.25, a P/E/G ratio of 2.94 and a beta of 0.91. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.77 by $0.10. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.46 EPS. On average, equities analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Viju Menon sold 600 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. This trade represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,381 shares of company stock worth $24,825,275. 5.90% of the stock is owned by company insiders.

Stryker Company Profile

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.