Ipswich Investment Management Co. Inc. Sells 40 Shares of Stryker Co. (NYSE:SYK)

Ipswich Investment Management Co. Inc. decreased its position in Stryker Co. (NYSE:SYK) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,630 shares of the medical technology company’s stock after selling 40 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Stryker were worth $589,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Seelaus Asset Management LLC lifted its position in Stryker by 2.2% during the 3rd quarter. Seelaus Asset Management LLC now owns 2,779 shares of the medical technology company’s stock valued at $1,004,000 after acquiring an additional 60 shares during the period. Coastline Trust Co bought a new position in shares of Stryker during the third quarter valued at approximately $194,000. Simplify Asset Management Inc. lifted its holdings in shares of Stryker by 64.1% during the third quarter. Simplify Asset Management Inc. now owns 1,812 shares of the medical technology company’s stock valued at $655,000 after purchasing an additional 708 shares during the last quarter. Bank of Marin boosted its position in shares of Stryker by 3.4% in the 3rd quarter. Bank of Marin now owns 2,301 shares of the medical technology company’s stock worth $831,000 after purchasing an additional 75 shares in the last quarter. Finally, Empowered Funds LLC boosted its position in shares of Stryker by 6.5% in the 3rd quarter. Empowered Funds LLC now owns 6,504 shares of the medical technology company’s stock worth $2,350,000 after purchasing an additional 399 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Activity

In related news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This represents a 42.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Kevin Lobo sold 57,313 shares of the firm’s 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 in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,381 shares of company stock valued at $24,825,275 in the last ninety days. Corporate insiders own 5.90% of the company’s stock.

Stryker Price Performance

Shares of NYSE:SYK opened at $390.08 on Friday. The firm’s 50 day moving average price is $364.07 and its 200-day moving average price is $347.33. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $148.71 billion, a PE ratio of 41.81, a price-to-earnings-growth ratio of 2.89 and a beta of 0.91. Stryker Co. has a twelve month low of $282.35 and a twelve month high of $392.70.

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

Analysts Set New Price Targets

A number of brokerages have issued reports on SYK. Wolfe Research began coverage on Stryker in a research note on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective for the company. JPMorgan Chase & Co. upped their price target on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Thursday. Stifel Nicolaus dropped their target price on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, UBS Group raised their price target on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $393.65.

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.