Huntington National Bank Raises Position in Stryker Co. (NYSE:SYK)

Huntington National Bank raised its holdings in Stryker Co. (NYSE:SYK) by 7.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 267,803 shares of the medical technology company’s stock after buying an additional 18,936 shares during the period. Huntington National Bank owned approximately 0.07% of Stryker worth $96,747,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Patrick M Sweeney & Associates Inc. lifted its position in shares of Stryker by 1.5% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock worth $793,000 after purchasing an additional 32 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Stryker by 4.0% during the 2nd quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock worth $294,000 after purchasing an additional 33 shares during the last quarter. Stanley Laman Group Ltd. lifted its position in shares of Stryker by 4.6% during the 2nd quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after purchasing an additional 33 shares during the last quarter. Plimoth Trust Co. LLC lifted its position in shares of Stryker by 0.3% during the 2nd quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock worth $3,224,000 after purchasing an additional 33 shares during the last quarter. Finally, Grimes & Company Inc. lifted its position in shares of Stryker by 0.4% during the 3rd quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock worth $2,977,000 after purchasing an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

Stryker stock opened at $388.34 on Thursday. The firm has a fifty day moving average of $362.38 and a 200-day moving average of $346.42. The firm has a market capitalization of $148.04 billion, a P/E ratio of 41.62, a PEG ratio of 2.92 and a beta of 0.91. Stryker Co. has a 52-week low of $282.35 and a 52-week high of $390.59. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last released its 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. The firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. Stryker’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the company earned $2.46 EPS. As a group, analysts predict that Stryker Co. will post 12.06 EPS for the current year.

Analyst Ratings Changes

SYK has been the subject of several recent analyst reports. UBS Group lifted their price objective on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group boosted their price target on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company lifted their price objective on shares of Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $393.65.

Insider Transactions at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction dated Tuesday, September 17th. The stock was 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 represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,381 shares of company stock valued at $24,825,275 in the last quarter. Insiders own 5.90% of the company’s stock.

Stryker Company 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.