King Luther Capital Management Corp Sells 25,892 Shares of Stryker Corporation $SYK

King Luther Capital Management Corp trimmed its position in Stryker Corporation (NYSE:SYK) by 6.0% during the third quarter, HoldingsChannel.com reports. The fund owned 403,654 shares of the medical technology company’s stock after selling 25,892 shares during the quarter. King Luther Capital Management Corp’s holdings in Stryker were worth $111,162,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SYK. State Street Corp boosted its holdings in shares of Stryker by 1.2% in the 2nd quarter. State Street Corp now owns 15,532,565 shares of the medical technology company’s stock valued at $4,903,772,000 after purchasing an additional 183,400 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Stryker by 0.6% in the 2nd quarter. Wellington Management Group LLP now owns 8,167,185 shares of the medical technology company’s stock valued at $2,571,357,000 after purchasing an additional 45,478 shares during the last quarter. Bank of America Corp DE bought a new position in shares of Stryker in the 2nd quarter valued at $1,404,284,000. Royal Bank of Canada raised its holdings in shares of Stryker by 6.5% during the 1st quarter. Royal Bank of Canada now owns 3,273,232 shares of the medical technology company’s stock worth $1,075,552,000 after buying an additional 199,863 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Stryker by 21.8% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,689,376 shares of the medical technology company’s stock worth $846,723,000 after buying an additional 481,175 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SYK. BTIG Research dropped their price objective on Stryker from $316.00 to $304.00 and set a “buy” rating for the company in a research report on Friday, October 30th. Wall Street Zen cut Stryker from a “buy” rating to a “hold” rating in a research report on Saturday, October 3rd. Wolfe Research cut Stryker from an “outperform” rating to a “peer perform” rating in a research report on Thursday, August 13th. Piper Sandler boosted their target price on Stryker from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, UBS Group dropped their target price on shares of Stryker from $400.00 to $382.00 and set a “buy” rating for the company in a report on Monday, August 3rd. Twenty-one research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and an average target price of $342.19.

Insider Buying and Selling

In other Stryker news, insider Dylan Crotty sold 441 shares of the stock in a transaction dated Friday, August 21st. The stock was 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 in the company, valued at approximately $2,005,178.22. This trade represents a 6.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronda E. Stryker sold 550,000 shares of Stryker stock in a transaction dated 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 sale, the director directly owned 1,701,375 shares in the company, valued at $553,491,315. The trade was a 24.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 901,267 shares of company stock worth $297,123,701 in the last 90 days. Insiders own 4.60% of the company’s stock.

Stryker Stock Performance

NYSE SYK opened at $318.67 on Thursday. The firm’s fifty day moving average price is $292.27 and its two-hundred day moving average price is $323.05. The stock has a market cap of $121.31 billion, a PE ratio of 33.94, a PEG ratio of 2.23 and a beta of 0.78. Stryker Corporation has a fifty-two week low of $267.00 and a fifty-two week high of $389.33. 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 announced its quarterly earnings results on Thursday, October 29th. The medical technology company reported $3.52 earnings per share (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 analyst estimates of $6.62 billion. During the same quarter last year, the company posted $3.19 earnings per share. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. On average, equities analysts expect that Stryker Corporation will post 14.85 EPS for the current fiscal year.

Stryker Company Profile

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.