State Treasurer State of Michigan raised its position in shares of Stryker Co. (NYSE:SYK) by 12.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 367,596 shares of the medical technology company’s stock after buying an additional 40,600 shares during the quarter. State Treasurer State of Michigan owned about 0.10% of Stryker worth $52,206,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Acrospire Investment Management LLC bought a new stake in shares of Stryker during the 2nd quarter valued at about $111,000. Bollard Group LLC grew its stake in shares of Stryker by 0.4% during the 2nd quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock valued at $115,000 after purchasing an additional 3 shares during the period. Motco grew its stake in shares of Stryker by 50.7% during the 2nd quarter. Motco now owns 826 shares of the medical technology company’s stock valued at $115,000 after purchasing an additional 278 shares during the period. Bruderman Asset Management LLC purchased a new position in shares of Stryker during the 2nd quarter valued at about $150,000. Finally, James Investment Research Inc. purchased a new position in shares of Stryker during the 2nd quarter valued at about $155,000. 74.15% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on SYK. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $161.00 price objective on shares of Stryker in a research report on Monday, October 2nd. Stifel Nicolaus boosted their price target on Stryker from $151.00 to $158.00 and gave the stock a “buy” rating in a report on Friday, July 28th. Oppenheimer Holdings, Inc. set a $156.00 price target on Stryker and gave the stock a “hold” rating in a report on Monday, October 30th. Canaccord Genuity boosted their price target on Stryker from $155.00 to $162.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Finally, BidaskClub cut Stryker from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $151.52.
In other news, insider Lonny J. Carpenter sold 5,000 shares of Stryker stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $155.34, for a total value of $776,700.00. Following the completion of the sale, the insider now directly owns 83,207 shares of the company’s stock, valued at $12,925,375.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 7.40% of the company’s stock.
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Stryker Co. (NYSE:SYK) opened at $155.95 on Wednesday. The firm has a market capitalization of $57,812.22, a P/E ratio of 24.48, a PEG ratio of 2.43 and a beta of 0.79. Stryker Co. has a 1 year low of $107.13 and a 1 year high of $160.62. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.37 and a quick ratio of 1.61.
Stryker (NYSE:SYK) last released its earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.02. Stryker had a return on equity of 17.02% and a net margin of 14.44%. The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter last year, the business posted $1.39 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. sell-side analysts expect that Stryker Co. will post 6.47 EPS for the current year.
Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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