Stryker Corporation $SYK Stock Sold by Calamos Advisors LLC

Key Points

• Calamos Advisors cut its Stryker stake by 39.8% in the third quarter, selling 44,567 shares and retaining 67,502 shares valued at about $18.6 million.
• Institutional investors own 77.09% of Stryker, with several large firms—including State Street, Wellington Management, RBC and UBS—reporting increased holdings.
• Stryker’s latest quarterly EPS and revenue came in slightly below analyst estimates, though revenue rose 7.6% year over year. Analysts’ consensus rating was Moderate Buy, with an average price target of $343.73.

Calamos Advisors LLC trimmed its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 39.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,502 shares of the medical technology company's stock after selling 44,567 shares during the quarter. Calamos Advisors LLC's holdings in Stryker were worth $18,589,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. State Street Corp increased its position in Stryker by 1.2% during the 2nd quarter. State Street Corp now owns 15,532,565 shares of the medical technology company's stock valued at $4,903,772,000 after purchasing an additional 183,400 shares during the period. Wellington Management Group LLP lifted its position in shares of 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 worth $2,571,357,000 after purchasing an additional 45,478 shares during the period. Bank of America Corp DE acquired a new position in shares of Stryker in the 2nd quarter worth approximately $1,404,284,000. Royal Bank of Canada lifted its position in shares of Stryker by 6.5% in the 1st quarter. Royal Bank of Canada now owns 3,273,232 shares of the medical technology company's stock worth $1,075,552,000 after purchasing an additional 199,863 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Stryker by 21.8% in 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 valued at $846,723,000 after purchasing an additional 481,175 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SYK shares. Royal Bank Of Canada lowered their target price on shares of Stryker from $420.00 to $375.00 and set an "outperform" rating for the company in a research note on Friday, October 30th. Johnson Rice cut shares of Stryker to a "hold" rating in a research report on Friday, October 30th. Sanford C. Bernstein reiterated a "market perform" rating on shares of Stryker in a report on Wednesday, October 7th. Citizens Jmp decreased their price target on Stryker from $400.00 to $390.00 and set a "market outperform" rating for the company in a report on Friday, October 30th. Finally, Wells Fargo & Company lowered their price objective on Stryker from $418.00 to $348.00 and set an "overweight" rating for the company in a research report on Wednesday, September 9th. Twenty-one analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $343.73.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 300,000 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $335.90, for a total value of $100,770,000.00. Following the transaction, the director directly owned 2,301,375 shares in the company, valued at $773,031,862.50. This trade represents a 11.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Dylan Crotty sold 441 shares of the business's 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 sale, the insider owned 6,102 shares of the company's stock, valued at $2,005,178.22. This trade represents a 6.74% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 351,267 shares of company stock valued at $118,197,701. 4.60% of the stock is owned by company insiders.

Stryker Price Performance

Shares of NYSE SYK opened at $325.26 on Friday. The firm's 50-day moving average price is $292.37 and its 200-day moving average price is $323.59. Stryker Corporation has a 1-year low of $267.00 and a 1-year high of $389.33. The firm has a market capitalization of $123.83 billion, a P/E ratio of 34.64, a P/E/G ratio of 2.24 and a beta of 0.78. The company has a current ratio of 2.18, a quick ratio of 1.30 and a debt-to-equity ratio of 0.60.

Stryker (NYSE:SYK - Get Free Report) last issued its 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). The firm had revenue of $6.52 billion during the quarter, compared to analyst estimates of $6.62 billion. Stryker had a net margin of 13.78% and a return on equity of 23.74%. The business's quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.19 earnings per share. Equities research analysts anticipate 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.

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.