Resources Management Corp CT ADV acquired a new position in Stryker Co. (NYSE:SYK) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 13,983 shares of the medical technology company’s stock, valued at approximately $3,025,000.
A number of other institutional investors have also added to or reduced their stakes in SYK. Massey Quick Simon & CO. LLC acquired a new position in shares of Stryker in the 2nd quarter valued at about $27,000. Ossiam acquired a new stake in Stryker during the second quarter worth about $33,000. Garrett Wealth Advisory Group LLC acquired a new stake in Stryker during the third quarter worth about $35,000. Stonebridge Capital Advisors LLC bought a new position in Stryker in the second quarter worth about $39,000. Finally, Horan Capital Advisors LLC. bought a new position in Stryker in the third quarter worth about $43,000. 73.22% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently commented on the company. Barclays lowered Stryker from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $226.00 to $207.00 in a report on Tuesday, November 5th. Zacks Investment Research upgraded Stryker from a “hold” rating to a “buy” rating and set a $215.00 price target on the stock in a research report on Thursday, November 28th. Robert W. Baird raised their price target on Stryker from $239.00 to $242.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. BTIG Research set a $228.00 price objective on Stryker and gave the company a “buy” rating in a research report on Thursday, September 5th. Finally, Canaccord Genuity upped their price objective on Stryker from $233.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $218.19.
Shares of NYSE SYK traded up $1.30 during midday trading on Wednesday, hitting $204.37. 1,060,144 shares of the company’s stock were exchanged, compared to its average volume of 1,230,966. Stryker Co. has a twelve month low of $144.75 and a twelve month high of $223.45. The firm has a market cap of $76.64 billion, a P/E ratio of 27.96, a PEG ratio of 2.51 and a beta of 0.76. The stock’s 50 day moving average price is $207.63 and its 200-day moving average price is $207.62. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.18 and a quick ratio of 1.35.
Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.90 by $0.01. The firm had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.58 billion. Stryker had a return on equity of 25.33% and a net margin of 23.55%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the firm earned $1.69 EPS. On average, analysts expect that Stryker Co. will post 8.23 EPS for the current fiscal year.
In related news, COO Timothy J. Scannell sold 4,666 shares of Stryker stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $206.28, for a total transaction of $962,502.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Glenn S. Boehnlein sold 2,700 shares of Stryker stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $215.85, for a total transaction of $582,795.00. Following the sale, the chief financial officer now owns 17,933 shares in the company, valued at $3,870,838.05. The disclosure for this sale can be found here. In the last three months, insiders sold 67,174 shares of company stock valued at $14,606,285. Company insiders own 7.20% of the company’s stock.
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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