Stryker Corporation $SYK Shares Sold by Candriam S.C.A.

Key Points

• Candriam S.C.A. cut its Stryker stake by 21.6% in the third quarter, selling 34,869 shares. It held 126,875 shares worth about $35.1 million at quarter-end.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $343.73; 21 analysts rate the stock Buy and seven Hold.
• Stryker’s latest quarter fell slightly short of expectations, reporting $3.52 in EPS versus a $3.55 estimate and $6.52 billion in revenue versus $6.62 billion expected. Revenue still grew 7.6% year over year.

Candriam S.C.A. trimmed its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 21.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 126,875 shares of the medical technology company's stock after selling 34,869 shares during the quarter. Candriam S.C.A.'s holdings in Stryker were worth $35,068,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Gables Capital Management Inc. acquired a new stake in shares of Stryker during the second quarter worth about $25,000. Kilter Group LLC purchased a new position in shares of Stryker in the second quarter valued at approximately $25,000. Cornerstone Financial Management LLC grew its holdings in shares of Stryker by 66.0% in the second quarter. Cornerstone Financial Management LLC now owns 78 shares of the medical technology company's stock valued at $25,000 after purchasing an additional 31 shares in the last quarter. Highland Investment Advisors LLC acquired a new position in shares of Stryker in the second quarter valued at approximately $25,000. Finally, Compass Financial Management LLC acquired a new position in shares of Stryker in the second quarter valued at approximately $27,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SYK shares. BMO Capital Markets reiterated an "outperform" rating and set a $309.00 target price (down from $317.00) on shares of Stryker in a report on Friday, October 30th. Piper Sandler decreased their price target 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. Canaccord Genuity Group downgraded shares of Stryker from a "buy" rating to a "hold" rating and dropped their price target for the stock from $385.00 to $300.00 in a research note on Friday, October 30th. Robert W. Baird decreased their target price on Stryker from $385.00 to $334.00 in a report on Friday, October 30th. Finally, Truist Financial reissued a "hold" rating and set a $305.00 target price (down from $310.00) on shares of Stryker in a research note on Monday, November 2nd. Twenty-one equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, Stryker presently has a consensus rating of "Moderate Buy" and an average target price of $343.73.

Insider Activity

In other news, insider Dylan Crotty sold 441 shares of Stryker stock in a transaction on Friday, August 21st. The shares were sold at an average price of $328.61, for a total transaction of $144,917.01. Following the completion of the sale, the insider directly owned 6,102 shares of the company's stock, valued at approximately $2,005,178.22. The trade was a 6.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 worth $118,197,701. 4.60% of the stock is currently owned by corporate insiders.

Stryker Stock Down 0.2%

Shares of NYSE:SYK opened at $325.26 on Monday. The firm's 50 day moving average price is $292.37 and its 200 day moving average price is $323.59. The stock has a market cap of $123.83 billion, a price-to-earnings ratio of 34.64, a price-to-earnings-growth ratio of 2.24 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 quick ratio of 1.30, a current ratio of 2.18 and a debt-to-equity ratio of 0.60.

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 firm had revenue of $6.52 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same quarter last year, the firm earned $3.19 EPS. The company's revenue was up 7.6% on a year-over-year basis. As a group, equities research analysts predict that Stryker Corporation will post 14.84 earnings per share 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.

Founded in 1941 by orthopedic surgeon Dr.

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