MayTech Global Investments LLC Has $13.50 Million Stake in Stryker Co. (NYSE:SYK)

MayTech Global Investments LLC grew its holdings in Stryker Co. (NYSE:SYK) by 23.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,367 shares of the medical technology company’s stock after acquiring an additional 7,181 shares during the quarter. Stryker accounts for 1.8% of MayTech Global Investments LLC’s portfolio, making the stock its 19th largest holding. MayTech Global Investments LLC’s holdings in Stryker were worth $13,499,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. National Wealth Management Group LLC acquired a new stake in Stryker during the third quarter worth about $824,000. First Commonwealth Financial Corp PA lifted its position in shares of Stryker by 2.0% in the 3rd quarter. First Commonwealth Financial Corp PA now owns 2,370 shares of the medical technology company’s stock worth $856,000 after acquiring an additional 46 shares during the period. CreativeOne Wealth LLC grew its holdings in shares of Stryker by 46.8% during the 3rd quarter. CreativeOne Wealth LLC now owns 2,078 shares of the medical technology company’s stock worth $751,000 after purchasing an additional 662 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Stryker by 162.3% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 144,283 shares of the medical technology company’s stock valued at $52,124,000 after purchasing an additional 89,283 shares during the period. Finally, Townsquare Capital LLC lifted its position in Stryker by 11.9% in the third quarter. Townsquare Capital LLC now owns 7,468 shares of the medical technology company’s stock worth $2,698,000 after purchasing an additional 792 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Citigroup boosted their price target 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 increased their price target on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group raised their price target 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. Stifel Nicolaus lowered their price objective on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a research note on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Stock Performance

Shares of Stryker stock opened at $388.14 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The firm has a 50 day simple moving average of $367.50 and a 200 day simple moving average of $350.68. Stryker Co. has a fifty-two week low of $285.79 and a fifty-two week high of $398.20. The firm has a market cap of $147.97 billion, a P/E ratio of 41.60, a P/E/G ratio of 2.94 and a beta of 0.91.

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. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same period last year, the firm earned $2.46 EPS. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. Sell-side analysts predict that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction that occurred 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 completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kevin Lobo sold 57,313 shares of the 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 in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 66,781 shares of company stock valued at $24,612,275. 5.90% of the stock is currently owned by insiders.

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.