Primecap Management Co. CA Sells 1,250 Shares of Stryker Corporation (NYSE:SYK)

Primecap Management Co. CA trimmed its holdings in shares of Stryker Corporation (NYSE:SYK) by 0.3% in the first quarter, HoldingsChannel reports. The firm owned 434,850 shares of the medical technology company’s stock after selling 1,250 shares during the period. Primecap Management Co. CA’s holdings in Stryker were worth $161,873,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of SYK. Elefante Mark B bought a new stake in shares of Stryker during the fourth quarter worth $337,000. Mogy Joel R Investment Counsel Inc. grew its position in shares of Stryker by 3.4% during the 1st quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company’s stock worth $36,561,000 after buying an additional 3,218 shares during the period. Ferguson Wellman Capital Management Inc. raised its stake in shares of Stryker by 1.9% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company’s stock worth $65,096,000 after buying an additional 3,341 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Stryker during the 1st quarter valued at $1,840,000. Finally, Mar Vista Investment Partners LLC boosted its position in shares of Stryker by 10.2% in the 1st quarter. Mar Vista Investment Partners LLC now owns 90,187 shares of the medical technology company’s stock worth $33,572,000 after purchasing an additional 8,353 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

SYK has been the topic of several analyst reports. Truist Financial set a $415.00 target price on Stryker and gave the company a “hold” rating in a research note on Monday. Citigroup reaffirmed a “buy” rating and issued a $455.00 target price (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Evercore ISI lifted their price target on shares of Stryker from $390.00 to $415.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Needham & Company LLC upped their price objective on shares of Stryker from $442.00 to $448.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Finally, Sanford C. Bernstein set a $450.00 target price on Stryker in a report on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $430.10.

Stryker Stock Down 1.6%

Shares of SYK stock opened at $374.93 on Thursday. The firm has a market capitalization of $143.34 billion, a P/E ratio of 49.66, a PEG ratio of 2.77 and a beta of 0.91. The firm’s fifty day moving average price is $387.39 and its two-hundred day moving average price is $380.33. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. Stryker Corporation has a 1 year low of $319.07 and a 1 year high of $406.19.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating the consensus estimate of $3.07 by $0.06. The firm had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.81 earnings per share. On average, equities analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.