Drive Wealth Management LLC Grows Holdings in Stryker Co. (NYSE:SYK)

Drive Wealth Management LLC lifted its stake in Stryker Co. (NYSE:SYK) by 10.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 720 shares of the medical technology company’s stock after purchasing an additional 67 shares during the period. Drive Wealth Management LLC’s holdings in Stryker were worth $261,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Patrick M Sweeney & Associates Inc. boosted its stake in shares of Stryker by 1.5% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock valued at $793,000 after purchasing an additional 32 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Stryker by 4.0% in the 2nd quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock valued at $294,000 after acquiring an additional 33 shares during the period. Stanley Laman Group Ltd. raised its position in shares of Stryker by 4.6% in the 2nd quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after acquiring an additional 33 shares in the last quarter. Plimoth Trust Co. LLC lifted its stake in shares of Stryker by 0.3% during the 2nd quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock worth $3,224,000 after purchasing an additional 33 shares during the last quarter. Finally, Grimes & Company Inc. boosted its position in Stryker by 0.4% during the third quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock valued at $2,977,000 after purchasing an additional 33 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on SYK. Evercore ISI increased their target price on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Needham & Company LLC boosted their price objective on shares of Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. UBS Group raised their target price on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Barclays boosted their price target on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $393.65.

Insider Activity

In other news, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the transaction, the vice president now directly owns 10,042 shares in the company, valued at $3,685,213.16. This trade represents a 42.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Viju Menon sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,381 shares of company stock valued at $24,825,275. 5.50% of the stock is currently owned by company insiders.

Stryker Stock Performance

Shares of NYSE:SYK opened at $389.40 on Tuesday. The business’s 50 day moving average price is $364.61 and its 200-day moving average price is $347.98. Stryker Co. has a 1 year low of $285.79 and a 1 year high of $398.20. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The firm has a market capitalization of $148.45 billion, a PE ratio of 41.74, a P/E/G ratio of 2.94 and a beta of 0.91.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share 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 company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the previous year, the company posted $2.46 earnings per share. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities research analysts expect that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

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.