Bank of New York Mellon Corp cut its holdings in shares of Stryker Corporation (NYSE:SYK) by 3.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,170,883 shares of the medical technology company’s stock after selling 286,107 shares during the quarter. Bank of New York Mellon Corp owned approximately 2.45% of Stryker Corporation worth $1,302,448,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in SYK. BlackRock Inc. increased its position in shares of Stryker Corporation by 2,526.4% during the 1st quarter. BlackRock Inc. now owns 21,976,771 shares of the medical technology company’s stock valued at $2,893,242,000 after purchasing an additional 21,140,000 shares during the last quarter. Koch Industries Inc. increased its holdings in Stryker Corporation by 34,120.3% in the 2nd quarter. Koch Industries Inc. now owns 1,260,675 shares of the medical technology company’s stock worth $1,252,000 after acquiring an additional 1,256,991 shares during the last quarter. Vanguard Group Inc. increased its holdings in Stryker Corporation by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 23,421,053 shares of the medical technology company’s stock worth $3,083,382,000 after acquiring an additional 1,161,688 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Stryker Corporation by 2,237.8% in the 2nd quarter. Janus Henderson Group PLC now owns 1,019,254 shares of the medical technology company’s stock worth $141,452,000 after acquiring an additional 975,656 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Stryker Corporation by 41.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,403,420 shares of the medical technology company’s stock worth $184,759,000 after acquiring an additional 414,715 shares during the last quarter. 74.15% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Lonny J. Carpenter sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $155.34, for a total value of $776,700.00. Following the completion of the sale, the insider now owns 83,207 shares in the company, valued at approximately $12,925,375.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 7.40% of the company’s stock.
Stryker Corporation (NYSE:SYK) last released its earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.50 by $0.02. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.97 billion. Stryker Corporation had a return on equity of 24.11% and a net margin of 14.67%. Stryker Corporation’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.39 EPS. research analysts anticipate that Stryker Corporation will post 6.47 EPS for the current fiscal year.
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Several equities research analysts recently weighed in on the company. ValuEngine raised Stryker Corporation from a “hold” rating to a “buy” rating in a report on Tuesday. Needham & Company LLC reissued a “hold” rating on shares of Stryker Corporation in a report on Friday, November 3rd. Oppenheimer Holdings, Inc. set a $156.00 price objective on Stryker Corporation and gave the stock a “hold” rating in a report on Monday, October 30th. Cowen and Company set a $166.00 price objective on Stryker Corporation and gave the stock a “buy” rating in a report on Sunday, October 29th. Finally, Barclays PLC lifted their price objective on Stryker Corporation from $137.00 to $148.00 and gave the stock an “underweight” rating in a report on Friday, October 27th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $151.52.
About Stryker Corporation
Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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