Beacon Trust Co. Reduces stake in Stryker Corp. (SYK)

Beacon Trust Co. Reduces stake in Stryker Corp. (SYK)

Beacon Trust Co. reduced its position in shares of Stryker Corp. (NYSE:SYK) by 1.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 53,875 shares of the medical technology company’s stock after selling 1,025 shares during the period. Beacon Trust Co.’s holdings in Stryker Corp. were worth $6,455,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in SYK. Fundsmith LLP boosted its position in Stryker Corp. by 9.1% in the second quarter. Fundsmith LLP now owns 3,932,735 shares of the medical technology company’s stock worth $471,260,000 after buying an additional 327,206 shares during the last quarter. CAPROCK Group Inc. boosted its position in Stryker Corp. by 8.1% in the second quarter. CAPROCK Group Inc. now owns 2,117 shares of the medical technology company’s stock worth $254,000 after buying an additional 159 shares during the last quarter. Aldebaran Financial Inc. boosted its position in Stryker Corp. by 36.1% in the second quarter. Aldebaran Financial Inc. now owns 3,351 shares of the medical technology company’s stock worth $410,000 after buying an additional 888 shares during the last quarter. Royal Bank of Canada boosted its position in Stryker Corp. by 4.1% in the second quarter. Royal Bank of Canada now owns 756,730 shares of the medical technology company’s stock worth $90,678,000 after buying an additional 29,968 shares during the last quarter. Finally, Blue Chip Partners Inc. boosted its position in Stryker Corp. by 0.3% in the second quarter. Blue Chip Partners Inc. now owns 1,757 shares of the medical technology company’s stock worth $211,000 after buying an additional 6 shares during the last quarter. Hedge funds and other institutional investors own 74.46% of the company’s stock.

Shares of Stryker Corp. (NYSE:SYK) opened at 110.36 on Monday. Stryker Corp. has a one year low of $86.68 and a one year high of $123.55. The stock has a market capitalization of $41.32 billion, a PE ratio of 25.12 and a beta of 0.86. The firm’s 50-day moving average is $115.24 and its 200-day moving average is $114.92.

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

Several equities analysts recently issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Stryker Corp. in a research report on Sunday. BMO Capital Markets upgraded shares of Stryker Corp. from an “underperform” rating to a “market perform” rating and set a $125.00 price target on the stock in a research report on Tuesday, November 1st. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Stryker Corp. from a “sell” rating to a “hold” rating and set a $129.00 price target on the stock in a research report on Monday, October 31st. 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. Finally, Oppenheimer Holdings Inc. set a $122.00 price target on shares of Stryker Corp. and gave the company a “hold” rating in a research report on Sunday, October 30th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $122.86.

In other Stryker Corp. news, Director Ronda E. Stryker sold 12,000 shares of Stryker Corp. stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $118.22, for a total transaction of $1,418,640.00. Following the completion of the sale, the director now directly owns 193,142 shares in the company, valued at approximately $22,833,247.24. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 18,000 shares of Stryker Corp. stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $116.13, for a total transaction of $2,090,340.00. Following the sale, the director now owns 193,142 shares of the company’s stock, valued at $22,429,580.46. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by corporate insiders.

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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