Principal Financial Group Inc. raised its stake in Stryker Corporation (NYSE:SYK – Free Report) by 46.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 552,672 shares of the medical technology company’s stock after buying an additional 176,363 shares during the quarter. Principal Financial Group Inc.’s holdings in Stryker were worth $194,248,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the stock. United Financial Planning Group LLC bought a new position in shares of Stryker in the third quarter worth $27,000. Strive Asset Management LLC bought a new stake in Stryker during the third quarter worth about $30,000. ANTIPODES PARTNERS Ltd acquired a new stake in Stryker during the third quarter worth about $34,000. Copia Wealth Management increased its holdings in Stryker by 181.6% in the 3rd quarter. Copia Wealth Management now owns 107 shares of the medical technology company’s stock valued at $40,000 after buying an additional 69 shares during the period. Finally, Ares Financial Consulting LLC bought a new position in Stryker in the 4th quarter valued at about $40,000. 77.09% of the stock is currently owned by institutional investors.
Stryker Stock Performance
Stryker stock opened at $295.39 on Wednesday. The business has a 50 day moving average of $343.97 and a 200-day moving average of $356.28. The company has a market capitalization of $113.13 billion, a P/E ratio of 34.19, a P/E/G ratio of 1.72 and a beta of 0.80. Stryker Corporation has a 1 year low of $290.17 and a 1 year high of $404.87. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.11 and a quick ratio of 1.25.
Wall Street Analyst Weigh In
SYK has been the subject of a number of recent analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $465.00 price target on shares of Stryker in a report on Wednesday, March 4th. Canaccord Genuity Group lowered their price objective on shares of Stryker from $435.00 to $400.00 and set a “buy” rating for the company in a research report on Friday, May 1st. UBS Group cut their target price on Stryker from $400.00 to $380.00 and set a “neutral” rating for the company in a research note on Tuesday, March 17th. Truist Financial reaffirmed a “hold” rating and issued a $330.00 target price (down from $380.00) on shares of Stryker in a report on Monday. Finally, Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Saturday. Sixteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $395.48.
About Stryker
Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.
See Also
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