Profund Advisors LLC increased its holdings in shares of Stryker Co. (NYSE:SYK – Free Report) by 2.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,210 shares of the medical technology company’s stock after acquiring an additional 139 shares during the quarter. Profund Advisors LLC’s holdings in Stryker were worth $1,590,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Freedom Wealth Alliance LLC acquired a new position in Stryker in the 4th quarter valued at about $26,000. Quarry LP acquired a new position in Stryker in the 1st quarter valued at about $27,000. Bay Harbor Wealth Management LLC acquired a new position in Stryker in the 2nd quarter valued at about $31,000. Altshuler Shaham Ltd acquired a new position in Stryker in the 1st quarter valued at about $33,000. Finally, Cascade Investment Advisors Inc. acquired a new position in Stryker in the 1st quarter valued at about $34,000. 76.24% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities analysts have weighed in on the stock. Citigroup decreased their target price on shares of Stryker from $342.00 to $330.00 and set a “buy” rating on the stock in a report on Monday, October 2nd. Barclays upped their price objective on shares of Stryker from $321.00 to $335.00 and gave the stock an “overweight” rating in a report on Monday, August 7th. Morgan Stanley upped their price objective on shares of Stryker from $295.00 to $300.00 and gave the stock an “equal weight” rating in a report on Monday, August 7th. UBS Group upped their price objective on shares of Stryker from $289.00 to $297.00 and gave the stock a “neutral” rating in a report on Thursday, November 9th. Finally, Truist Financial upped their price objective on shares of Stryker from $270.00 to $300.00 and gave the stock a “hold” rating in a report on Monday, November 6th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $311.30.
Stryker Trading Up 0.3 %
Shares of NYSE:SYK opened at $289.29 on Tuesday. Stryker Co. has a 52 week low of $222.65 and a 52 week high of $306.93. The company’s 50 day moving average is $274.86 and its two-hundred day moving average is $282.47. 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 company has a market cap of $109.90 billion, a PE ratio of 42.92, a P/E/G ratio of 2.78 and a beta of 0.94.
Stryker (NYSE:SYK – Get Free Report) last announced its quarterly earnings data on Thursday, November 2nd. The medical technology company reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.03. Stryker had a net margin of 13.00% and a return on equity of 22.62%. The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the prior year, the firm posted $2.12 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities analysts predict that Stryker Co. will post 10.41 earnings per share for the current fiscal year.
Insider Activity at Stryker
In related news, Director Srikant M. Datar sold 500 shares of the 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 directly owns 4,316 shares of the company’s stock, valued at approximately $1,259,926.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Srikant M. Datar sold 750 shares of the stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $287.57, for a total transaction of $215,677.50. Following the completion of the sale, the director now owns 5,316 shares in the company, valued at approximately $1,528,722.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Srikant M. Datar sold 500 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $291.92, for a total transaction of $145,960.00. Following the sale, 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 have sold 6,250 shares of company stock valued at $1,806,638 in the last ninety days. Insiders own 5.90% of the company’s stock.
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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