94,280 Shares in Stryker Corporation $SYK Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Stryker Corporation (NYSE:SYK) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 94,280 shares of the medical technology company’s stock, valued at approximately $25,964,000.

Several other hedge funds have also added to or reduced their stakes in the business. Community Bank & Trust Waco Texas increased its position in Stryker by 2.3% in the 2nd quarter. Community Bank & Trust Waco Texas now owns 1,395 shares of the medical technology company’s stock valued at $439,000 after acquiring an additional 31 shares during the period. Cornerstone Financial Management LLC raised its stake in shares of Stryker by 66.0% during the second quarter. Cornerstone Financial Management LLC now owns 78 shares of the medical technology company’s stock valued at $25,000 after acquiring an additional 31 shares during the last quarter. NWF Advisory Services Inc. raised its stake in shares of Stryker by 2.3% during the second quarter. NWF Advisory Services Inc. now owns 1,472 shares of the medical technology company’s stock valued at $463,000 after acquiring an additional 33 shares during the last quarter. Harold Davidson & Associates Inc. raised its stake in shares of Stryker by 0.4% during the first quarter. Harold Davidson & Associates Inc. now owns 8,668 shares of the medical technology company’s stock valued at $2,848,000 after acquiring an additional 34 shares during the last quarter. Finally, Private Harbour Investment Management & Counsel LLC lifted its holdings in shares of Stryker by 0.9% during the second quarter. Private Harbour Investment Management & Counsel LLC now owns 3,927 shares of the medical technology company’s stock worth $1,236,000 after purchasing an additional 34 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Performance

Shares of SYK stock opened at $306.77 on Tuesday. The stock has a market capitalization of $117.67 billion, a PE ratio of 32.67, a PEG ratio of 1.96 and a beta of 0.78. The business’s 50 day simple moving average is $292.37 and its 200 day simple moving average is $324.26. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.16 and a quick ratio of 1.33. Stryker Corporation has a one year low of $267.00 and a one year high of $389.33.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, October 29th. The medical technology company reported $3.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.55 by ($0.03). Stryker had a return on equity of 23.63% and a net margin of 14.43%. The firm had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter in the previous year, the business posted $3.19 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, research analysts forecast that Stryker Corporation will post 14.85 earnings per share for the current year.

Key Stories Impacting Stryker

Here are the key news stories impacting Stryker this week:

• Positive Sentiment: JPMorgan lowered its price target from $350 to $340 but maintained an Overweight rating, implying roughly 11% potential upside from the referenced share price.
• Positive Sentiment: Barclays reaffirmed its Buy rating, signaling continued confidence in Stryker’s medical-device portfolio despite near-term estimate revisions. Barclays Reaffirms Their Buy Rating on Stryker
• Neutral Sentiment: Truist reaffirmed its Hold rating and reduced its target from $310 to $305, indicating limited near-term upside at the referenced price. Truist Reaffirms Hold Rating on Stryker
• Neutral Sentiment: Price-target reductions from Citizens JMP, Citigroup, TD Cowen and Barclays reflect analysts resetting expectations after Stryker’s third-quarter results and guidance. Barclays nevertheless retained its Buy view. Stryker Fair Value Falls After Analysts Reset Expectations
• Negative Sentiment: Canaccord Genuity Group downgraded Stryker to Hold, adding to concern about valuation and the company’s near-term earnings outlook.
• Negative Sentiment: The stock recently fell below its 50-day moving average after Stryker slightly missed quarterly earnings and revenue expectations, an indication that disappointing results remain an overhang for investors. Stryker Stock Breaks Below 50-Day Moving Average

Insider Activity

In other news, insider Debra King sold 826 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total value of $277,783.80. Following the sale, the insider directly owned 6,210 shares of the company’s stock, valued at approximately $2,088,423. This represents a 11.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ronda Stryker sold 50,000 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $340.10, for a total transaction of $17,005,000.00. Following the sale, the director owned 2,251,375 shares of the company’s stock, valued at approximately $765,692,637.50. This trade represents a 2.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 351,267 shares of company stock valued at $118,197,701. 4.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently weighed in on SYK shares. JPMorgan Chase & Co. reduced their price objective on shares of Stryker from $350.00 to $340.00 and set an “overweight” rating on the stock in a research note on Friday. Citigroup restated a “market outperform” rating on shares of Stryker in a report on Friday. Needham & Company LLC lowered their target price on Stryker from $418.00 to $359.00 and set a “buy” rating for the company in a research report on Friday. BTIG Research cut their target price on Stryker from $316.00 to $304.00 and set a “buy” rating on the stock in a report on Friday. Finally, Canaccord Genuity Group downgraded Stryker from a “buy” rating to a “hold” rating and cut their target price for the stock from $385.00 to $300.00 in a report on Friday. Sixteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $355.04.

Stryker Company Profile

Stryker Corporation (NYSE: SYK) is a global medical technology company that develops and manufactures products used by healthcare providers in hospitals, surgical centers and other clinical settings. Its offerings are designed to support orthopaedic procedures, surgery, emergency care, neurovascular treatment and patient handling.

The company’s product portfolio includes orthopaedic implants and instruments, products for trauma and spine procedures, surgical equipment, endoscopy systems, patient beds and stretchers, emergency medical equipment, and neurovascular devices used in the treatment of conditions such as stroke.