Appleton Partners Inc. MA boosted its position in Stryker Co. (NYSE:SYK) by 3.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,932 shares of the medical technology company’s stock after purchasing an additional 596 shares during the quarter. Appleton Partners Inc. MA’s holdings in Stryker were worth $3,446,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Massey Quick Simon & CO. LLC acquired a new position in Stryker in the 2nd quarter valued at about $27,000. Ossiam acquired a new position in shares of Stryker during the 2nd quarter valued at about $33,000. Garrett Wealth Advisory Group LLC acquired a new position in shares of Stryker during the 3rd quarter valued at about $35,000. Stonebridge Capital Advisors LLC acquired a new position in shares of Stryker during the 2nd quarter valued at about $39,000. Finally, Webster Bank N. A. increased its stake in shares of Stryker by 300.0% during the 2nd quarter. Webster Bank N. A. now owns 200 shares of the medical technology company’s stock valued at $41,000 after acquiring an additional 150 shares during the last quarter. 73.13% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on SYK shares. Royal Bank of Canada set a $220.00 price objective on shares of Stryker and gave the company a “buy” rating in a research note on Friday, July 26th. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Stryker in a research note on Wednesday, September 4th. Cantor Fitzgerald upped their price objective on shares of Stryker from $190.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. UBS Group upped their price objective on shares of Stryker from $220.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird upped their price objective on shares of Stryker from $239.00 to $242.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Stryker currently has a consensus rating of “Buy” and an average price target of $219.08.
In related news, CEO Kevin Lobo sold 19,286 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $215.71, for a total transaction of $4,160,183.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Glenn S. Boehnlein sold 2,700 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $215.85, for a total transaction of $582,795.00. Following the sale, the chief financial officer now directly owns 17,933 shares of the company’s stock, valued at approximately $3,870,838.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,524 shares of company stock valued at $14,731,927. Corporate insiders own 7.20% of the company’s stock.
SYK opened at $201.01 on Thursday. The firm has a 50 day moving average price of $213.94 and a 200 day moving average price of $205.43. The company has a market cap of $79.60 billion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 2.61 and a beta of 0.80. Stryker Co. has a 1 year low of $144.75 and a 1 year high of $223.45. 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 (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $1.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.90 by $0.01. The firm had revenue of $3.59 billion during 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 company’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.69 EPS. On average, sell-side analysts predict that Stryker Co. will post 8.23 earnings per share for the current year.
Stryker Company 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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