Stryker Corporation $SYK Stock Sold by Trillium Asset Management LLC

Trillium Asset Management LLC trimmed its position in shares of Stryker Corporation (NYSE:SYK) by 3.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,671 shares of the medical technology company’s stock after selling 2,320 shares during the period. Trillium Asset Management LLC’s holdings in Stryker were worth $19,188,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity

In related news, insider Dylan Crotty sold 441 shares of Stryker stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $328.61, for a total transaction of $144,917.01. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 550,000 shares of the business’s stock in a transaction on Friday, November 6th. The shares were sold at an average price of $325.32, for a total value of $178,926,000.00. Following the completion of the sale, the director owned 1,701,375 shares of the company’s stock, valued at $553,491,315. This trade represents a 24.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 901,267 shares of company stock valued at $297,123,701. 4.60% of the stock is owned by insiders.

Stryker Stock Performance

Shares of NYSE SYK traded down $3.34 during mid-day trading on Friday, reaching $309.05. 3,251,740 shares of the company were exchanged, compared to its average volume of 3,235,306. The company’s 50-day simple moving average is $292.30 and its 200-day simple moving average is $322.60. The company has a quick ratio of 1.30, a current ratio of 2.18 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $117.65 billion, a P/E ratio of 32.91, a P/E/G ratio of 2.14 and a beta of 0.78. Stryker Corporation has a twelve month low of $267.00 and a twelve month high of $389.33.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, October 29th. The medical technology company reported $3.52 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $6.62 billion. During the same period in the previous year, the firm posted $3.19 EPS. The business’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, research analysts predict that Stryker Corporation will post 14.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SYK. Wolfe Research cut Stryker from an “outperform” rating to a “peer perform” rating in a report on Thursday, August 13th. Canaccord Genuity Group downgraded Stryker from a “buy” rating to a “hold” rating and lowered their price target for the stock from $385.00 to $300.00 in a research report on Friday, October 30th. Needham & Company LLC dropped their price objective on Stryker from $418.00 to $359.00 and set a “buy” rating on the stock in a research note on Friday, October 30th. Barclays cut their price objective on Stryker from $375.00 to $365.00 and set an “overweight” rating for the company in a research report on Friday, October 30th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $323.00 target price (down from $370.00) on shares of Stryker in a research note on Friday, October 30th. Twenty-one analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $342.19.

About Stryker

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.