2,294 Stryker Corporation $SYK Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS decreased its holdings in shares of Stryker Corporation (NYSE:SYK) by 59.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,542 shares of the medical technology company’s stock after selling 2,294 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Stryker were worth $425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in Stryker by 1.2% during the second 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 in the last quarter. Wellington Management Group LLP grew its position in shares of Stryker by 0.6% in the second quarter. Wellington Management Group LLP now owns 8,167,185 shares of the medical technology company’s stock valued at $2,571,357,000 after purchasing an additional 45,478 shares during the period. Bank of America Corp DE purchased a new stake in shares of Stryker during the second quarter worth about $1,404,284,000. Royal Bank of Canada increased its stake in shares of Stryker by 6.5% during the first 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Stryker by 21.8% during the second 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 worth $846,723,000 after purchasing an additional 481,175 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Activity

In related news, insider Dylan Crotty sold 441 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was 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. This trade represents a 6.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 550,000 shares of the business’s stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $325.32, for a total transaction of $178,926,000.00. Following the completion of the sale, the director owned 1,701,375 shares in the company, valued at approximately $553,491,315. This trade represents a 24.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 901,267 shares of company stock valued at $297,123,701 in the last quarter. Insiders own 4.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Stifel Nicolaus cut their price objective on Stryker from $330.00 to $325.00 and set a “buy” rating for the company in a research note on Monday, November 2nd. Johnson Rice downgraded Stryker to a “hold” rating in a research report on Friday, October 30th. Piper Sandler upped their price objective on shares of Stryker from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday. Canaccord Genuity Group downgraded shares of Stryker from a “buy” rating to a “hold” rating and cut their price objective for the company from $385.00 to $300.00 in a report on Friday, October 30th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Stryker from $315.00 to $275.00 and set a “hold” rating on the stock in a research note on Friday, October 30th. Twenty-one analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and a consensus price target of $342.19.

Stryker Stock Down 0.5%

SYK stock opened at $324.00 on Wednesday. Stryker Corporation has a one year low of $267.00 and a one year high of $389.33. The firm has a market cap of $123.34 billion, a PE ratio of 34.50, a PEG ratio of 2.24 and a beta of 0.78. The firm’s 50 day moving average price is $292.25 and its 200-day moving average price is $323.23. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.30 and a current ratio of 2.18.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, October 29th. The medical technology company reported $3.52 earnings per share for the quarter, missing the consensus estimate of $3.55 by ($0.03). The business had revenue of $6.52 billion during the quarter, compared to analysts’ expectations of $6.62 billion. Stryker had a return on equity of 23.74% and a net margin of 13.78%. The company’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.19 earnings per share. On average, equities research analysts anticipate that Stryker Corporation will post 14.84 EPS for the current 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.