Intech Investment Management LLC boosted its holdings in shares of Stryker Co. (NYSE:SYK – Free Report) by 8.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 12,154 shares of the medical technology company’s stock after buying an additional 959 shares during the period. Intech Investment Management LLC’s holdings in Stryker were worth $3,708,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Vinva Investment Management Ltd acquired a new position in Stryker during the first quarter valued at $3,257,000. Aviance Capital Partners LLC grew its stake in Stryker by 3.7% in the second quarter. Aviance Capital Partners LLC now owns 2,096 shares of the medical technology company’s stock valued at $639,000 after purchasing an additional 75 shares in the last quarter. Stifel Financial Corp grew its stake in Stryker by 0.7% in the first quarter. Stifel Financial Corp now owns 400,767 shares of the medical technology company’s stock valued at $114,412,000 after purchasing an additional 2,868 shares in the last quarter. Andra AP fonden grew its stake in Stryker by 28.8% in the second quarter. Andra AP fonden now owns 30,422 shares of the medical technology company’s stock valued at $9,281,000 after purchasing an additional 6,800 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its stake in Stryker by 28.6% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,451 shares of the medical technology company’s stock valued at $1,271,000 after purchasing an additional 990 shares in the last quarter. 76.24% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the company. Roth Mkm reiterated a “buy” rating and set a $345.00 price target on shares of Stryker in a research note on Thursday, November 9th. Citigroup decreased their price target on Stryker from $342.00 to $330.00 and set a “buy” rating for the company in a research note on Monday, October 2nd. Truist Financial upped their price target on Stryker from $270.00 to $300.00 and gave the stock a “hold” rating in a research note on Monday, November 6th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Monday, November 6th. Finally, Bank of America upgraded Stryker from a “neutral” rating to a “buy” rating and upped their price target for the stock from $310.00 to $315.00 in a research note on Tuesday, September 5th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $311.30.
Insider Transactions at Stryker
In other news, insider Viju Menon sold 5,000 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $289.00, for a total value of $1,445,000.00. Following the completion of the transaction, the insider now directly owns 6,994 shares of the company’s stock, valued at approximately $2,021,266. The sale was disclosed in a legal filing with the SEC, which is available at this link. 5.90% of the stock is currently owned by insiders.
Stryker Trading Up 0.2 %
Shares of SYK opened at $283.64 on Thursday. Stryker Co. has a 1 year low of $216.55 and a 1 year high of $306.93. The company has a current ratio of 1.48, a quick ratio of 0.83 and a debt-to-equity ratio of 0.58. The stock has a 50 day simple moving average of $275.05 and a 200-day simple moving average of $282.57. The stock has a market cap of $107.75 billion, a PE ratio of 42.08, a PEG ratio of 2.69 and a beta of 0.94.
Stryker (NYSE:SYK – Get Free Report) last issued its earnings results on Thursday, November 2nd. The medical technology company reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.03. Stryker had a return on equity of 22.62% and a net margin of 13.00%. The business had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.87 billion. During the same period in the prior year, the firm posted $2.12 EPS. Stryker’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, sell-side analysts predict that Stryker Co. will post 10.41 EPS for the current fiscal year.
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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.
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