Traders Sell Shares of Stryker (SYK) on Strength (SYK)
Traders sold shares of Stryker Corporation (NYSE:SYK) on strength during trading hours on Thursday. $42.87 million flowed into the stock on the tick-up and $298.55 million flowed out of the stock on the tick-down, for a money net flow of $255.68 million out of the stock. Of all companies tracked, Stryker had the 0th highest net out-flow for the day. Stryker traded up $1.90 for the day and closed at $156.00
A number of research firms have recently commented on SYK. SunTrust Banks reaffirmed a “buy” rating and set a $161.00 target price on shares of Stryker in a research note on Monday, October 2nd. Oppenheimer set a $156.00 target price on Stryker and gave the company a “hold” rating in a research note on Monday, October 30th. Canaccord Genuity upped their target price on Stryker from $155.00 to $162.00 and gave the company a “buy” rating in a research note on Friday, October 27th. Zacks Investment Research cut Stryker from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. Finally, Cowen set a $160.00 target price on Stryker and gave the company a “buy” rating in a research note on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $152.10.
The firm has a market cap of $58,381.07, a P/E ratio of 24.72, a PEG ratio of 2.46 and a beta of 0.78. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.37 and a quick ratio of 1.61.
In related news, insider Lonny J. Carpenter sold 5,000 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $155.34, for a total value of $776,700.00. Following the transaction, the insider now owns 83,207 shares of the company’s stock, valued at $12,925,375.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 7.40% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Stryker by 2.8% during the second quarter. Vanguard Group Inc. now owns 24,078,709 shares of the medical technology company’s stock worth $3,341,643,000 after buying an additional 657,656 shares during the period. BlackRock Inc. lifted its holdings in Stryker by 5.2% during the second quarter. BlackRock Inc. now owns 23,115,853 shares of the medical technology company’s stock worth $3,208,017,000 after buying an additional 1,139,082 shares during the period. Jensen Investment Management Inc. lifted its holdings in Stryker by 11.3% during the third quarter. Jensen Investment Management Inc. now owns 2,472,476 shares of the medical technology company’s stock worth $351,141,000 after buying an additional 251,685 shares during the period. Legal & General Group Plc lifted its holdings in Stryker by 2.8% during the third quarter. Legal & General Group Plc now owns 1,805,572 shares of the medical technology company’s stock worth $256,393,000 after buying an additional 49,143 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in Stryker by 4.8% during the third quarter. Wells Fargo & Company MN now owns 1,742,959 shares of the medical technology company’s stock worth $247,536,000 after buying an additional 79,551 shares during the period. 74.97% of the stock is currently owned by institutional investors.
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Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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