15,025 Shares of Stryker Corporation $SYK Purchased by First Nebraska Trust Co

Key Points

• First Nebraska Trust Co. acquired 15,025 Stryker shares in the third quarter, valued at approximately $4.14 million; institutional investors collectively own 77.09% of the company.
• Stryker’s latest quarterly results missed expectations, reporting adjusted earnings of $3.52 per share versus $3.55 expected and revenue of $6.52 billion versus $6.62 billion expected, although revenue grew 7.6% year over year.
• Analyst sentiment is mixed but remains a “Moderate Buy” overall, with a $355.04 average price target; several firms have recently lowered targets or maintained hold ratings.

First Nebraska Trust Co acquired a new stake in Stryker Corporation (NYSE:SYK - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 15,025 shares of the medical technology company's stock, valued at approximately $4,137,000.

A number of other institutional investors have also bought and sold shares of the business. International Assets Investment Management LLC raised its holdings in Stryker by 1,432.8% in the 3rd quarter. International Assets Investment Management LLC now owns 25,000 shares of the medical technology company's stock valued at $6,885,000 after buying an additional 23,369 shares during the period. Amundi boosted its stake in Stryker by 18.3% during the second quarter. Amundi now owns 1,246,353 shares of the medical technology company's stock worth $392,402,000 after buying an additional 192,447 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Stryker by 8.2% during the second quarter. The Manufacturers Life Insurance Company now owns 859,544 shares of the medical technology company's stock worth $270,642,000 after buying an additional 65,333 shares during the period. Veritas Asset Management LLP acquired a new stake in shares of Stryker during the second quarter valued at about $168,057,000. Finally, Bank of America Corp DE acquired a new stake in shares of Stryker during the second quarter valued at about $1,404,284,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Price Performance

Stryker stock opened at $310.67 on Wednesday. The company has a quick ratio of 1.30, a current ratio of 2.18 and a debt-to-equity ratio of 0.60. Stryker Corporation has a 52-week low of $267.00 and a 52-week high of $389.33. The firm has a market cap of $118.27 billion, a PE ratio of 33.08, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The company's 50 day moving average is $292.03 and its two-hundred day moving average is $324.02.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly 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 business had revenue of $6.52 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same quarter last year, the firm earned $3.19 EPS. The business's revenue was up 7.6% on a year-over-year basis. On average, research analysts expect that Stryker Corporation will post 14.85 EPS for the current fiscal year.

Insider Buying and Selling at Stryker

In other news, insider Dylan Crotty sold 441 shares of the firm's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $328.61, for a total value of $144,917.01. Following the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Debra King sold 826 shares of the business's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $336.30, for a total transaction of $277,783.80. Following the transaction, the insider owned 6,210 shares of the company's stock, valued at approximately $2,088,423. The trade was a 11.74% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 351,267 shares of company stock valued at $118,197,701. Insiders own 4.60% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. TD Cowen reduced their price target on shares of Stryker from $298.00 to $290.00 and set a "hold" rating on the stock in a research note on Friday, October 30th. Piper Sandler lowered their price objective on shares of Stryker from $420.00 to $390.00 and set an "overweight" rating for the company in a research report on Friday, July 31st. Needham & Company LLC dropped their target price on shares of Stryker from $418.00 to $359.00 and set a "buy" rating for the company in a report on Friday. BTIG Research dropped their target price on shares of Stryker from $316.00 to $304.00 and set a "buy" rating for the company in a report on Friday, October 30th. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $309.00 target price on shares of Stryker in a research report on Friday. Sixteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $355.04.

Key Stryker News

Here are the key news stories impacting Stryker this week:

• Positive Sentiment: JPMorgan Chase & Co. maintained an “overweight” rating and sees potential upside to its $340 price target, though it cut that target from $350. JPMorgan analyst update
• Neutral Sentiment: A Stryker stock forecast and price-target page was published, but the supplied entry contains no specific forecast or rating change. Stryker stock forecast
• Negative Sentiment: Truist reaffirmed its “hold” rating and lowered its target to $305 from $310, below the cited share price of $310.67. Truist rating update
• Negative Sentiment: Other firms also cut their price targets: Citizens JMP, Citigroup, TD Cowen, and Barclays. Canaccord Genuity moved its rating to “hold.” The supplied headlines do not provide the revised targets, but the cluster of reductions and downgrade signals more cautious analyst sentiment. Citizens JMP target cut Citigroup target trim TD Cowen target cut Barclays target cut Canaccord rating change

Stryker Profile

Stryker Corporation NYSE: SYK is a global medical technology company that develops and manufactures products used by healthcare providers in hospitals, surgical centers and other clinical settings. Its offerings are designed to support orthopaedic procedures, surgery, emergency care, neurovascular treatment and patient handling.

The company's product portfolio includes orthopaedic implants and instruments, products for trauma and spine procedures, surgical equipment, endoscopy systems, patient beds and stretchers, emergency medical equipment, and neurovascular devices used in the treatment of conditions such as stroke.

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