Trading Report: Today, Marble Harbor Investment Counsel LLC Cuts Stake in Stryker Corp. (SYK)

Today, Marble Harbor Investment Counsel LLC Cuts Stake in Stryker Corp. (SYK)

Marble Harbor Investment Counsel LLC lowered its position in Stryker Corp. (NYSE:SYK) by 2.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,621 shares of the medical technology company’s stock after selling 684 shares during the period. Marble Harbor Investment Counsel LLC’s holdings in Stryker Corp. were worth $3,565,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Capital Research Global Investors raised its stake in shares of Stryker Corp. by 3.4% in the second quarter. Capital Research Global Investors now owns 32,980,782 shares of the medical technology company’s stock worth $3,952,087,000 after buying an additional 1,095,549 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Stryker Corp. by 1.9% in the second quarter. Vanguard Group Inc. now owns 21,428,963 shares of the medical technology company’s stock worth $2,567,833,000 after buying an additional 397,336 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Stryker Corp. by 2.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 11,990,001 shares of the medical technology company’s stock worth $1,436,761,000 after buying an additional 328,431 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Stryker Corp. by 20.1% in the second quarter. BlackRock Fund Advisors now owns 6,280,516 shares of the medical technology company’s stock worth $752,594,000 after buying an additional 1,051,648 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Stryker Corp. by 12.6% in the second quarter. FMR LLC now owns 4,156,578 shares of the medical technology company’s stock worth $498,082,000 after buying an additional 466,411 shares in the last quarter. 73.55% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Stryker Corp. (NYSE:SYK) traded up 0.98% during mid-day trading on Friday, hitting $112.84. 559,305 shares of the stock traded hands. The stock has a 50-day moving average of $113.79 and a 200-day moving average of $114.99. The company has a market cap of $42.25 billion, a price-to-earnings ratio of 25.68 and a beta of 0.86. Stryker Corp. has a 52 week low of $86.68 and a 52 week high of $123.55.

Stryker Corp. (NYSE:SYK) last released its earnings results on Thursday, October 27th. The medical technology company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.37 by $0.02. Stryker Corp. had a net margin of 15.24% and a return on equity of 23.61%. The business earned $2.83 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same period in the prior year, the business earned $1.25 earnings per share. The business’s quarterly revenue was up 17.1% on a year-over-year basis. Analysts anticipate that Stryker Corp. will post $5.78 EPS for the current year.

SYK has been the topic of a number of analyst reports. Zacks Investment Research raised Stryker Corp. from a “sell” rating to a “hold” rating and set a $129.00 price objective on the stock in a report on Monday, October 31st. BMO Capital Markets upgraded shares of Stryker Corp. from an “underperform” rating to a “market perform” rating and set a $125.00 price target for the company in a research report on Tuesday, November 1st. They noted that the move was a valuation call. SunTrust Banks Inc. assumed coverage on shares of Stryker Corp. in a research report on Thursday, October 13th. They set a “buy” rating and a $140.00 price target for the company. Needham & Company LLC reiterated a “hold” rating on shares of Stryker Corp. in a research report on Sunday, November 13th. Finally, Canaccord Genuity set a $127.00 price target on shares of Stryker Corp. and gave the company a “buy” rating in a research report on Sunday, October 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $122.38.

In related news, Director Ronda E. Stryker sold 18,000 shares of the stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $109.53, for a total transaction of $1,971,540.00. Following the completion of the sale, the director now directly owns 193,142 shares of the company’s stock, valued at $21,154,843.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 12,000 shares of the stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $109.89, for a total transaction of $1,318,680.00. Following the sale, the director now directly owns 193,142 shares of the company’s stock, valued at $21,224,374.38. The disclosure for this sale can be found here. Corporate insiders own 7.80% of the company’s stock.

Stryker Corp. Company Profile

Stryker Corporation (Stryker) is a medical technology company. The Company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Company’s Orthopaedics segment products consist of implants used in hip and knee joint replacements and trauma and surgeries. The Company’s MedSurg segment products consist of surgical equipment and surgical navigation systems (Instruments); endoscopic and communications systems (Endoscopy); patient handling and emergency medical equipment (Medical), and reprocessed and remanufactured medical devices (Sustainability), as well as other medical device products used in a range of medical specialties.

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