Fifth Third Wealth Advisors LLC Grows Stock Holdings in Stryker Co. (NYSE:SYK)

Fifth Third Wealth Advisors LLC raised its stake in Stryker Co. (NYSE:SYK) by 1.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,075 shares of the medical technology company’s stock after buying an additional 74 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Stryker were worth $1,472,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its holdings in Stryker by 78.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock worth $45,260,000 after purchasing an additional 58,673 shares during the last quarter. OFI Invest Asset Management grew its stake in 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 increased its holdings in Stryker by 14.2% during the 1st quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company’s stock valued at $4,853,000 after acquiring an additional 1,681 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Stryker by 2.7% during the second quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company’s stock worth $210,289,000 after acquiring an additional 16,504 shares during the last quarter. Finally, Fiera Capital Corp lifted its holdings in shares of Stryker by 42.1% in 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 in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. BTIG Research raised their price objective on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada boosted their price target on Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. UBS Group upped their price objective on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Wolfe Research assumed coverage on shares of Stryker in a report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $393.65.

Insider Buying and Selling

In related news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the sale, the vice president now owns 10,042 shares in the company, valued at $3,685,213.16. This represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 67,381 shares of company stock valued at $24,825,275. Company insiders own 5.50% of the company’s stock.

Stryker Stock Performance

Stryker stock opened at $388.66 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. Stryker Co. has a 12 month low of $285.79 and a 12 month high of $398.20. The company has a market cap of $148.16 billion, a price-to-earnings ratio of 41.66, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. The stock’s 50-day moving average is $365.08 and its 200-day moving average is $348.40.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm 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 company posted $2.46 earnings per share. Stryker’s revenue was up 11.9% compared to the same quarter last year. Equities analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current 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.