Stryker Co. (NYSE:SYK) Shares Bought by MayTech Global Investments LLC

MayTech Global Investments LLC increased its stake in Stryker Co. (NYSE:SYK) by 23.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,367 shares of the medical technology company’s stock after buying an additional 7,181 shares during the quarter. Stryker comprises 1.8% of MayTech Global Investments LLC’s portfolio, making the stock its 19th largest position. MayTech Global Investments LLC’s holdings in Stryker were worth $13,499,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Stryker by 78.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock worth $45,260,000 after purchasing an additional 58,673 shares during the last quarter. OFI Invest Asset Management raised its stake in Stryker by 3,210.9% during the second quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company’s stock valued at $1,062,000 after buying an additional 3,243 shares in the last quarter. Tidal Investments LLC lifted its holdings in Stryker by 14.2% during the 1st quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company’s stock worth $4,853,000 after buying an additional 1,681 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Stryker by 2.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company’s stock worth $210,289,000 after acquiring an additional 16,504 shares in the last quarter. Finally, Sivik Global Healthcare LLC raised its position in shares of Stryker by 8.0% during the 3rd quarter. Sivik Global Healthcare LLC now owns 27,000 shares of the medical technology company’s stock valued at $9,754,000 after acquiring an additional 2,000 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Stock Down 0.4 %

NYSE:SYK opened at $388.14 on Thursday. The business’s fifty day moving average price is $367.50 and its 200 day moving average price is $350.68. 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 $147.97 billion, a price-to-earnings ratio of 41.60, a PEG ratio of 2.94 and a beta of 0.91. Stryker Co. has a 1-year low of $285.79 and a 1-year high of $398.20.

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

Insiders Place Their Bets

In related news, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This trade represents a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,781 shares of company stock valued at $24,612,275 in the last three months. Insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on SYK shares. Wolfe Research initiated coverage on shares of Stryker in a research note on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price for the company. Piper Sandler restated an “overweight” rating and set a $420.00 price objective (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. BTIG Research boosted their target price on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Stifel Nicolaus lowered their price target on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, Canaccord Genuity Group upped their price target on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $393.65.

Stryker 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.