Vectors Research Management LLC Boosts Stake in Stryker Co. (NYSE:SYK)

Vectors Research Management LLC lifted its holdings in shares of Stryker Co. (NYSE:SYK) by 2.4% in the third quarter, HoldingsChannel.com reports. The firm owned 2,823 shares of the medical technology company’s stock after acquiring an additional 67 shares during the quarter. Vectors Research Management LLC’s holdings in Stryker were worth $1,020,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SYK. Black Diamond Financial LLC acquired a new stake in Stryker in the 3rd quarter valued at approximately $673,000. First Business Financial Services Inc. boosted its position in shares of Stryker by 12.0% during the third quarter. First Business Financial Services Inc. now owns 8,627 shares of the medical technology company’s stock worth $3,117,000 after buying an additional 924 shares during the period. CIBC Asset Management Inc grew its stake in shares of Stryker by 7.9% in the third quarter. CIBC Asset Management Inc now owns 62,985 shares of the medical technology company’s stock valued at $22,754,000 after buying an additional 4,594 shares in the last quarter. Balboa Wealth Partners purchased a new stake in shares of Stryker in the 3rd quarter valued at $203,000. Finally, Sargent Investment Group LLC lifted its stake in Stryker by 26.4% during the 3rd quarter. Sargent Investment Group LLC now owns 985 shares of the medical technology company’s stock worth $356,000 after acquiring an additional 206 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,715,540. This trade represents a 17.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Viju Menon sold 600 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value 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. The trade was a 6.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,381 shares of company stock valued at $24,825,275. Company insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SYK. Robert W. Baird boosted their price target on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group upped their target price on shares of Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Wolfe Research began coverage on shares of Stryker in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price target for the company. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada lifted their target price on Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Stock Down 1.3 %

SYK stock opened at $383.28 on Friday. The company has a market cap of $146.11 billion, a price-to-earnings ratio of 41.08, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91. The company has a fifty day moving average price of $362.94 and a 200 day moving average price of $346.72. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. Stryker Co. has a 12 month low of $282.35 and a 12 month high of $392.70.

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

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.