Stryker Co. (NYSE:SYK) Shares Purchased by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. lifted its stake in shares of Stryker Co. (NYSE:SYK) by 3.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,564 shares of the medical technology company’s stock after buying an additional 2,505 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Stryker were worth $24,769,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SYK. Benjamin Edwards Inc. grew its holdings in shares of Stryker by 2,140.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 140,676 shares of the medical technology company’s stock worth $50,833,000 after acquiring an additional 134,396 shares during the period. Kestra Investment Management LLC acquired a new stake in Stryker during the 3rd quarter valued at approximately $346,000. B&L Asset Management LLC acquired a new stake in shares of Stryker in the 3rd quarter valued at about $279,000. Erste Asset Management GmbH bought a new position in Stryker during the third quarter worth $34,264,000. Finally, Edgestream Partners L.P. boosted its stake in Stryker by 216.1% in the third quarter. Edgestream Partners L.P. now owns 3,430 shares of the medical technology company’s stock valued at $1,239,000 after acquiring an additional 2,345 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Trading Up 1.0 %

NYSE:SYK opened at $392.15 on Monday. The stock has a market capitalization of $149.50 billion, a price-to-earnings ratio of 42.03, a PEG ratio of 2.96 and a beta of 0.94. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The firm has a 50 day moving average of $368.51 and a 200 day moving average of $351.74. Stryker Co. has a 52 week low of $285.79 and a 52 week high of $398.20.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the previous year, the company earned $2.46 earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SYK. Citigroup upped their price target on shares of Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Wolfe Research initiated coverage on shares of Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective on the stock. BTIG Research lifted their price target on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company upped their price objective on Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research note on Friday, November 22nd. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $398.40.

Insider Buying and Selling

In related news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the transaction, the vice president now owns 10,042 shares in the company, valued at $3,715,540. The trade was a 17.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,781 shares of company stock valued at $24,612,275. Corporate insiders own 5.50% of the company’s stock.

About Stryker

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.