Eurizon Capital SGR S.p.A. grew its stake in Stryker Corporation (NYSE:SYK – Free Report) by 16.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,386 shares of the medical technology company’s stock after purchasing an additional 15,048 shares during the quarter. Eurizon Capital SGR S.p.A.’s holdings in Stryker were worth $29,587,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of SYK. International Assets Investment Management LLC boosted its stake in Stryker by 1,432.8% in the third quarter. International Assets Investment Management LLC now owns 25,000 shares of the medical technology company’s stock valued at $6,885,000 after buying an additional 23,369 shares in the last quarter. Amundi raised its stake in Stryker by 18.3% during the second quarter. Amundi now owns 1,246,353 shares of the medical technology company’s stock worth $392,402,000 after acquiring an additional 192,447 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Stryker by 8.2% during the second quarter. The Manufacturers Life Insurance Company now owns 859,544 shares of the medical technology company’s stock worth $270,642,000 after acquiring an additional 65,333 shares in the last quarter. Veritas Asset Management LLP bought a new position in shares of Stryker in the second quarter worth about $168,057,000. Finally, Bank of America Corp DE bought a new position in shares of Stryker in the second quarter worth about $1,404,284,000. Institutional investors own 77.09% of the company’s stock.
Insider Activity at Stryker
In other Stryker news, insider Dylan Crotty sold 441 shares of Stryker stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $328.61, for a total value of $144,917.01. Following the completion of the sale, the insider directly owned 6,102 shares in the company, valued at approximately $2,005,178.22. The trade was a 6.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 550,000 shares of the stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $325.32, for a total value of $178,926,000.00. Following the transaction, the director owned 1,701,375 shares in the company, valued at $553,491,315. The trade was a 24.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 901,267 shares of company stock worth $297,123,701 in the last 90 days. Corporate insiders own 4.60% of the company’s stock.
Stryker Trading Down 1.1%
SYK opened at $309.05 on Friday. The stock has a market cap of $117.65 billion, a PE ratio of 32.91, a price-to-earnings-growth ratio of 2.14 and a beta of 0.78. The company has a quick ratio of 1.30, a current ratio of 2.18 and a debt-to-equity ratio of 0.60. Stryker Corporation has a twelve month low of $267.00 and a twelve month high of $389.33. The company has a fifty day moving average of $292.30 and a 200-day moving average of $322.60.
Stryker (NYSE:SYK – Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The medical technology company reported $3.52 EPS for the quarter, missing analysts’ consensus estimates of $3.55 by ($0.03). Stryker had a net margin of 13.78% and a return on equity of 23.74%. The firm had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same period last year, the company posted $3.19 EPS. The business’s revenue was up 7.6% compared to the same quarter last year. On average, sell-side analysts predict that Stryker Corporation will post 14.85 EPS for the current year.
Analysts Set New Price Targets
SYK has been the subject of a number of research analyst reports. Canaccord Genuity Group cut shares of Stryker from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $385.00 to $300.00 in a research report on Friday, October 30th. Royal Bank Of Canada cut their price objective on Stryker from $420.00 to $375.00 and set an “outperform” rating on the stock in a report on Friday, October 30th. Deutsche Bank reduced their price objective on Stryker from $315.00 to $275.00 and set a “hold” rating on the stock in a research report on Friday, October 30th. Raymond James Financial reaffirmed an “outperform” rating and issued a $323.00 target price (down from $370.00) on shares of Stryker in a report on Friday, October 30th. Finally, Needham & Company LLC cut their price target on Stryker from $418.00 to $359.00 and set a “buy” rating on the stock in a research note on Friday, October 30th. Twenty-one analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus target price of $342.19.
View Our Latest Analysis on SYK
About Stryker
Stryker is a medical technology company that develops and sells products and services for healthcare providers. Its offerings include orthopedic implants and surgical equipment, neurotechnology and spine products, and medical and surgical equipment used in hospitals and other care settings. The company’s products also include patient-handling and emergency medical equipment, as well as instruments and technologies that support surgical procedures. Stryker serves healthcare customers in the United States and internationally.
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