Ethic Inc. Sells 3,715 Shares of Stryker Corporation $SYK

Key Points

• Ethic Inc. reduced its Stryker stake by 6.5%, selling 3,715 shares in the third quarter; it retained 53,818 shares valued at about $14.8 million.
• Institutional investors and hedge funds own 77.09% of Stryker, with several major investors increasing their positions.
• Analysts maintain a “Moderate Buy” consensus and an average $343.73 price target, though Stryker’s latest quarterly EPS and revenue fell short of estimates; revenue still grew 7.6% year over year.

Ethic Inc. lessened its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 6.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,818 shares of the medical technology company's stock after selling 3,715 shares during the period. Ethic Inc.'s holdings in Stryker were worth $14,821,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp grew its holdings in Stryker by 1.2% in the 2nd quarter. State Street Corp now owns 15,532,565 shares of the medical technology company's stock worth $4,903,772,000 after buying an additional 183,400 shares in the last quarter. Wellington Management Group LLP increased its position in 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 acquiring an additional 45,478 shares during the period. Bank of America Corp DE bought a new stake in Stryker during the 2nd quarter valued at $1,404,284,000. Royal Bank of Canada raised its stake in 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 valued at $1,075,552,000 after acquiring an additional 199,863 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in 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 acquiring an additional 481,175 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Rothschild & Co Redburn decreased their price target on Stryker from $360.00 to $336.00 in a research note on Monday, November 2nd. Wall Street Zen cut shares of Stryker from a "buy" rating to a "hold" rating in a research note on Saturday, October 3rd. Citizens Jmp reduced their price objective on shares of Stryker from $400.00 to $390.00 and set a "market outperform" rating for the company in a report on Friday, October 30th. Canaccord Genuity Group lowered shares of Stryker from a "buy" rating to a "hold" rating and decreased their target price for the company from $385.00 to $300.00 in a research report on Friday, October 30th. Finally, Leerink Partners decreased their target price on shares of Stryker from $403.00 to $353.00 and set an "outperform" rating for the company in a research report on Friday, October 9th. Twenty-one analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Stryker presently has a consensus rating of "Moderate Buy" and a consensus target price of $343.73.

Stryker Price Performance

Shares of NYSE:SYK opened at $325.26 on Friday. The stock has a market cap of $123.83 billion, a price-to-earnings ratio of 34.64, a PEG ratio of 2.24 and a beta of 0.78. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.18 and a quick ratio of 1.30. Stryker Corporation has a 12 month low of $267.00 and a 12 month high of $389.33. The stock's 50 day moving average price is $292.37 and its 200 day moving average price is $323.59.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The medical technology company reported $3.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.55 by ($0.03). Stryker had a net margin of 13.78% and a return on equity of 23.74%. The firm 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 business posted $3.19 earnings per share. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. Equities research analysts anticipate that Stryker Corporation will post 14.84 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Ronda Stryker sold 50,000 shares of the firm's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $340.10, for a total transaction of $17,005,000.00. Following the completion of the transaction, the director owned 2,251,375 shares of the company's stock, valued at $765,692,637.50. This trade represents a 2.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Debra King sold 826 shares of the firm's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total value of $277,783.80. Following the transaction, the insider directly owned 6,210 shares of the company's stock, valued at $2,088,423. This represents a 11.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 351,267 shares of company stock worth $118,197,701 over the last 90 days. 4.60% of the stock is currently owned by company insiders.

Stryker 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.

Founded in 1941 by orthopedic surgeon Dr.

Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Corporation (NYSE:SYK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.