Premier Fund Managers Ltd Grows Position in Stryker Co. (NYSE:SYK)

Premier Fund Managers Ltd boosted its stake in shares of Stryker Co. (NYSE:SYK) by 6.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,190 shares of the medical technology company’s stock after acquiring an additional 2,700 shares during the period. Premier Fund Managers Ltd’s holdings in Stryker were worth $16,637,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of SYK. West Family Investments Inc. grew its position in shares of Stryker by 7.3% during the third quarter. West Family Investments Inc. now owns 1,346 shares of the medical technology company’s stock valued at $486,000 after purchasing an additional 91 shares in the last quarter. Parnassus Investments LLC bought a new position in Stryker during the third quarter valued at approximately $762,798,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Stryker during the 3rd quarter valued at approximately $32,373,000. SouthState Corp increased its stake in Stryker by 16.6% in the 3rd quarter. SouthState Corp now owns 17,509 shares of the medical technology company’s stock worth $6,325,000 after acquiring an additional 2,492 shares during the last quarter. Finally, W.G. Shaheen & Associates DBA Whitney & Co increased its stake in Stryker by 1.5% in the 3rd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 28,721 shares of the medical technology company’s stock worth $10,376,000 after acquiring an additional 415 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Needham & Company LLC boosted their target price on shares of Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Evercore ISI upped 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. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, Royal Bank of Canada upped their price objective on Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Stock Down 0.2 %

Shares of SYK opened at $388.66 on Wednesday. The firm has a fifty day moving average price of $365.08 and a 200-day moving average price of $348.40. 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 firm has a market capitalization of $148.16 billion, a P/E ratio of 41.66, a P/E/G ratio of 2.94 and a beta of 0.91. Stryker Co. has a 12-month low of $285.79 and a 12-month high of $398.20.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.10. The company had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.46 EPS. Equities research analysts expect that Stryker Co. will post 12.06 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Viju Menon sold 600 shares of the business’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 completion of the sale, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. The trade was a 6.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. This represents a 17.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,381 shares of company stock worth $24,825,275. 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.