Resources Management Corp CT ADV purchased a new position in Stryker Co. (NYSE:SYK) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 13,983 shares of the medical technology company’s stock, valued at approximately $3,025,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Massey Quick Simon & CO. LLC purchased a new position in shares of Stryker in the second quarter valued at $27,000. Ossiam purchased a new position in Stryker during the 2nd quarter valued at about $33,000. Garrett Wealth Advisory Group LLC acquired a new position in Stryker during the third quarter worth about $35,000. Stonebridge Capital Advisors LLC acquired a new position in Stryker during the second quarter worth about $39,000. Finally, Horan Capital Advisors LLC. purchased a new stake in shares of Stryker in the third quarter valued at about $43,000. Institutional investors and hedge funds own 73.22% of the company’s stock.
A number of research analysts have recently weighed in on the stock. Piper Jaffray Companies reissued a “buy” rating on shares of Stryker in a research note on Wednesday, September 4th. Bank of America lifted their price objective on Stryker from $220.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. BTIG Research set a $228.00 target price on Stryker and gave the company a “buy” rating in a research note on Thursday, September 5th. ValuEngine cut Stryker from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Canaccord Genuity raised their price target on Stryker from $233.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $218.19.
SYK traded up $1.30 during trading on Wednesday, hitting $204.37. The company’s stock had a trading volume of 1,060,144 shares, 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 stock has a market cap of $76.64 billion, a PE ratio of 27.96, a PEG ratio of 2.51 and a beta of 0.76. The firm’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 quarterly earnings data on Tuesday, October 29th. The medical technology company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.01. The business 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 business’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.69 earnings per share. Equities analysts anticipate that Stryker Co. will post 8.23 earnings per share for the current year.
In related news, CFO Glenn S. Boehnlein sold 2,700 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $215.85, for a total transaction of $582,795.00. Following the completion of the transaction, the chief financial officer now owns 17,933 shares of the company’s stock, valued at $3,870,838.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Timothy J. Scannell sold 4,666 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $206.28, for a total transaction of $962,502.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,174 shares of company stock worth $14,606,285. 7.20% of the stock is owned by corporate insiders.
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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