Canopy Partners LLC Has $333,000 Stock Holdings in Stryker Co. (NYSE:SYK)

Canopy Partners LLC raised its holdings in Stryker Co. (NYSE:SYK) by 50.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 922 shares of the medical technology company’s stock after acquiring an additional 308 shares during the quarter. Canopy Partners LLC’s holdings in Stryker were worth $333,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its holdings in 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 worth $45,260,000 after acquiring an additional 58,673 shares during the period. OFI Invest Asset Management increased its holdings in Stryker by 3,210.9% in the second quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company’s stock worth $1,062,000 after purchasing an additional 3,243 shares in the last quarter. Tidal Investments LLC lifted its stake in Stryker by 14.2% in the first quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company’s stock valued at $4,853,000 after buying an additional 1,681 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Stryker by 2.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company’s stock worth $210,289,000 after buying an additional 16,504 shares in the last quarter. Finally, Sivik Global Healthcare LLC grew its position in shares of Stryker by 8.0% during the 3rd quarter. Sivik Global Healthcare LLC now owns 27,000 shares of the medical technology company’s stock worth $9,754,000 after buying an additional 2,000 shares during the period. Institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

SYK opened at $384.88 on Friday. The stock’s 50 day moving average price is $366.20 and its 200-day moving average price is $349.36. Stryker Co. has a 52-week low of $285.79 and a 52-week high of $398.20. The stock has a market capitalization of $146.72 billion, a PE ratio of 41.25, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91.

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

Insider Buying and Selling at Stryker

In other Stryker news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This trade represents a 6.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kevin Lobo sold 57,313 shares of the company’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 value of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,381 shares of company stock valued at $24,825,275. 5.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SYK. UBS Group increased their target price on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. 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. JPMorgan Chase & Co. upped their price target on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Truist Financial raised their price objective on Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus lowered their target price on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Five research 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, Stryker currently has an average rating of “Moderate Buy” and an average target price of $393.65.

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.