Commonwealth Equity Services LLC increased its stake in shares of Stryker Co. (NYSE:SYK – Free Report) by 3.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 161,153 shares of the medical technology company’s stock after purchasing an additional 5,088 shares during the period. Commonwealth Equity Services LLC’s holdings in Stryker were worth $49,166,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Freedom Wealth Alliance LLC purchased a new stake in shares of Stryker in the 4th quarter valued at about $26,000. Quarry LP purchased a new stake in shares of Stryker in the 1st quarter valued at about $27,000. Bay Harbor Wealth Management LLC purchased a new stake in shares of Stryker in the 2nd quarter valued at about $31,000. Altshuler Shaham Ltd purchased a new stake in shares of Stryker in the 1st quarter valued at about $33,000. Finally, Cascade Investment Advisors Inc. purchased a new stake in shares of Stryker in the 1st quarter valued at about $34,000. Hedge funds and other institutional investors own 76.24% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on SYK shares. Royal Bank of Canada reiterated an “outperform” rating and set a $325.00 price objective on shares of Stryker in a research report on Thursday, August 17th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Monday, November 6th. Truist Financial increased their price objective on Stryker from $270.00 to $300.00 and gave the company a “hold” rating in a research report on Monday, November 6th. Citigroup reduced their price objective on Stryker from $342.00 to $330.00 and set a “buy” rating on the stock in a research report on Monday, October 2nd. Finally, Morgan Stanley increased their price objective on Stryker from $295.00 to $300.00 and gave the company an “equal weight” rating in a research report on Monday, August 7th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $311.30.
In other news, Director Srikant M. Datar sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $291.92, for a total value of $145,960.00. Following the completion of the transaction, the director now owns 4,316 shares in the company, valued at approximately $1,259,926.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Stryker news, Director Srikant M. Datar sold 750 shares of Stryker stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $287.57, for a total transaction of $215,677.50. Following the completion of the transaction, the director now owns 5,316 shares in the company, valued at $1,528,722.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Srikant M. Datar sold 500 shares of Stryker stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $291.92, for a total value of $145,960.00. Following the transaction, the director now owns 4,316 shares of the company’s stock, valued at approximately $1,259,926.72. The disclosure for this sale can be found here. Insiders sold a total of 6,250 shares of company stock worth $1,806,638 in the last quarter. 5.90% of the stock is owned by company insiders.
Stryker Price Performance
Shares of SYK stock opened at $288.38 on Friday. The firm has a market cap of $109.55 billion, a P/E ratio of 42.79, a P/E/G ratio of 2.78 and a beta of 0.94. Stryker Co. has a fifty-two week low of $220.74 and a fifty-two week high of $306.93. The business’s 50 day moving average price is $275.07 and its 200-day moving average price is $282.47. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.83 and a current ratio of 1.48.
Stryker (NYSE:SYK – Get Free Report) last issued its quarterly earnings data on Thursday, November 2nd. The medical technology company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.03. The firm had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.87 billion. Stryker had a return on equity of 22.62% and a net margin of 13.00%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $2.12 EPS. On average, equities research analysts anticipate that Stryker Co. will post 10.41 earnings per share for the current 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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