Nixon Peabody Trust Co. Boosts Stake in Stryker Co. (NYSE:SYK)

Nixon Peabody Trust Co. lifted its holdings in shares of Stryker Co. (NYSE:SYK) by 1.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 57,448 shares of the medical technology company’s stock after acquiring an additional 780 shares during the quarter. Stryker accounts for about 1.7% of Nixon Peabody Trust Co.’s investment portfolio, making the stock its 15th biggest position. Nixon Peabody Trust Co.’s holdings in Stryker were worth $20,754,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SYK. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Stryker by 78.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock valued at $45,260,000 after buying an additional 58,673 shares during the last quarter. OFI Invest Asset Management increased its holdings in shares of Stryker by 3,210.9% in the 2nd quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company’s stock valued at $1,062,000 after acquiring an additional 3,243 shares during the last quarter. Tidal Investments LLC lifted its stake in Stryker by 14.2% during the first quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company’s stock worth $4,853,000 after purchasing an additional 1,681 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Stryker by 2.7% in the second quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company’s stock worth $210,289,000 after purchasing an additional 16,504 shares during the period. Finally, Fiera Capital Corp increased its stake in Stryker by 42.1% during the second quarter. Fiera Capital Corp now owns 16,713 shares of the medical technology company’s stock valued at $5,687,000 after purchasing an additional 4,948 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the subject of several research reports. UBS Group lifted their price target on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Robert W. Baird upped their target price on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Stifel Nicolaus cut their price target on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Evercore ISI upped their price objective on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada raised their target price on Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $393.65.

Stryker Price Performance

SYK stock traded up $1.87 on Monday, hitting $391.95. 89,160 shares of the company’s stock traded hands, compared to its average volume of 1,261,404. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The stock has a market cap of $149.42 billion, a price-to-earnings ratio of 41.81, a P/E/G ratio of 2.94 and a beta of 0.91. Stryker Co. has a 1-year low of $285.79 and a 1-year high of $396.70. The stock has a fifty day moving average of $364.07 and a 200-day moving average of $347.54.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the previous year, the firm posted $2.46 EPS. The company’s quarterly revenue was up 11.9% on a year-over-year basis. On average, analysts forecast that Stryker Co. will post 12.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. This trade represents a 6.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the transaction, the vice president now directly owns 10,042 shares in the company, valued at $3,685,213.16. The trade was a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,381 shares of company stock worth $24,825,275 over the last ninety days. 5.50% of the stock is currently owned by company insiders.

Stryker Company Profile

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.