Main Street Financial Solutions LLC Sells 82 Shares of Stryker Co. (NYSE:SYK)

Main Street Financial Solutions LLC reduced its holdings in shares of Stryker Co. (NYSE:SYK) by 11.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 627 shares of the medical technology company’s stock after selling 82 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Stryker were worth $227,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SYK. Lord Abbett & CO. LLC grew its position in shares of Stryker by 5.0% during the 1st quarter. Lord Abbett & CO. LLC now owns 821 shares of the medical technology company’s stock valued at $294,000 after acquiring an additional 39 shares during the period. Nwam LLC increased its position in Stryker by 2.1% in the first quarter. Nwam LLC now owns 2,214 shares of the medical technology company’s stock worth $740,000 after buying an additional 46 shares during the last quarter. Tocqueville Asset Management L.P. raised its stake in shares of Stryker by 6.2% in the first quarter. Tocqueville Asset Management L.P. now owns 2,222 shares of the medical technology company’s stock valued at $795,000 after buying an additional 130 shares during the period. M&G Plc purchased a new position in shares of Stryker during the 1st quarter valued at $11,534,000. Finally, First Foundation Advisors increased its holdings in Stryker by 49.6% in the 1st quarter. First Foundation Advisors now owns 1,343 shares of the medical technology company’s stock worth $481,000 after acquiring an additional 445 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

NYSE SYK opened at $390.08 on Friday. Stryker Co. has a 12-month low of $282.35 and a 12-month high of $392.70. 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 company has a 50-day simple moving average of $363.45 and a two-hundred day simple moving average of $346.97. The firm has a market cap of $148.71 billion, a price-to-earnings ratio of 41.81, a PEG ratio of 2.89 and a beta of 0.91.

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

Analyst Upgrades and Downgrades

SYK has been the subject of a number of research reports. Piper Sandler reiterated an “overweight” rating and set a $420.00 target price (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Needham & Company LLC increased their target price on Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company lifted their price target on Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group raised their target price on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Evercore ISI increased their price target on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Insiders Place Their Bets

In other news, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the sale, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. The trade was a 42.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred on 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. The trade was 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 quarter. Insiders own 5.90% of the company’s stock.

Stryker 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.