ING Groep NV Boosts Stock Position in Stryker Co. (NYSE:SYK)

ING Groep NV raised its position in shares of Stryker Co. (NYSE:SYK) by 62.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 124,854 shares of the medical technology company’s stock after buying an additional 48,231 shares during the quarter. ING Groep NV’s holdings in Stryker were worth $45,105,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SYK. Koshinski Asset Management Inc. purchased a new stake in Stryker during the first quarter valued at approximately $795,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Stryker by 78.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock worth $45,260,000 after acquiring an additional 58,673 shares in the last quarter. M&G Plc purchased a new stake in shares of Stryker during the first quarter worth about $11,534,000. OFI Invest Asset Management increased its holdings in shares of Stryker by 3,210.9% during the second quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company’s stock valued at $1,062,000 after acquiring an additional 3,243 shares in the last quarter. Finally, Tidal Investments LLC raised its position in shares of Stryker by 14.2% in the 1st quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company’s stock valued at $4,853,000 after purchasing an additional 1,681 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Price Performance

Shares of Stryker stock traded up $3.84 during trading hours on Thursday, reaching $392.18. The stock had a trading volume of 539,549 shares, compared to its average volume of 1,253,655. Stryker Co. has a twelve month low of $282.35 and a twelve month high of $392.46. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $149.51 billion, a PE ratio of 41.62, a PEG ratio of 2.92 and a beta of 0.91. The stock’s 50 day moving average is $362.94 and its 200 day moving average is $346.72.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. The company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. Stryker’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.46 earnings per share. Equities analysts expect that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on SYK. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Thursday. Citigroup boosted their price objective on shares of Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a report on Thursday, October 31st. BTIG Research raised their target price on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. UBS Group lifted their price target on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company increased their price objective on Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and an average target price of $393.65.

Insider Activity at Stryker

In other Stryker news, insider Viju Menon sold 600 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Stryker news, insider Viju Menon sold 600 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,381 shares of company stock valued at $24,825,275. 5.90% of the stock is owned by company insiders.

Stryker 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.