Parallel Advisors LLC Acquires 412 Shares of Stryker Co. (NYSE:SYK)

Parallel Advisors LLC raised its position in shares of Stryker Co. (NYSE:SYK) by 6.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,739 shares of the medical technology company’s stock after acquiring an additional 412 shares during the period. Parallel Advisors LLC’s holdings in Stryker were worth $1,458,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Stryker by 2.1% during the second quarter. Vanguard Group Inc. now owns 26,735,288 shares of the medical technology company’s stock worth $5,496,241,000 after acquiring an additional 555,327 shares during the period. Northern Trust Corp lifted its position in Stryker by 0.5% during the second quarter. Northern Trust Corp now owns 3,922,830 shares of the medical technology company’s stock valued at $806,455,000 after purchasing an additional 19,248 shares during the last quarter. Nuveen Asset Management LLC raised its stake in shares of Stryker by 20,218.6% during the second quarter. Nuveen Asset Management LLC now owns 2,596,110 shares of the medical technology company’s stock worth $533,708,000 after acquiring an additional 2,583,333 shares in the last quarter. Morgan Stanley raised its stake in shares of Stryker by 3.4% during the second quarter. Morgan Stanley now owns 1,826,762 shares of the medical technology company’s stock worth $375,547,000 after acquiring an additional 59,305 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Stryker by 3.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,357,591 shares of the medical technology company’s stock worth $279,094,000 after acquiring an additional 44,907 shares in the last quarter. Institutional investors own 73.13% of the company’s stock.

In other Stryker news, VP M Kathryn Fink sold 28,690 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $220.97, for a total transaction of $6,339,629.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Srikant M. Datar sold 350 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $215.00, for a total transaction of $75,250.00. Following the transaction, the director now owns 6,844 shares in the company, valued at approximately $1,471,460. The disclosure for this sale can be found here. Insiders have sold a total of 67,524 shares of company stock worth $14,731,927 in the last 90 days. Company insiders own 7.20% of the company’s stock.

Several research analysts have commented on SYK shares. UBS Group lifted their price target on shares of Stryker from $220.00 to $225.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. ValuEngine downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Canaccord Genuity lifted their price target on shares of Stryker from $233.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Stifel Nicolaus lifted their price target on shares of Stryker from $230.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Barclays downgraded shares of Stryker from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $226.00 to $207.00 in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $219.08.

Shares of NYSE SYK traded down $1.72 during mid-day trading on Thursday, hitting $199.29. The stock had a trading volume of 715,051 shares, compared to its average volume of 1,213,765. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.35 and a current ratio of 2.18. Stryker Co. has a 1 year low of $144.75 and a 1 year high of $223.45. The business has a 50 day moving average price of $213.94 and a two-hundred day moving average price of $205.43. The firm has a market cap of $76.75 billion, a P/E ratio of 27.26, a price-to-earnings-growth ratio of 2.51 and a beta of 0.80.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.90 by $0.01. The company had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.58 billion. Stryker had a net margin of 23.55% and a return on equity of 25.33%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.69 earnings per share. Equities research analysts predict that Stryker Co. will post 8.23 EPS for the current fiscal year.

Stryker Profile

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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