Aigen Investment Management LP Takes Position in Stryker Co. (NYSE:SYK)

Aigen Investment Management LP purchased a new position in shares of Stryker Co. (NYSE:SYK) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,364 shares of the medical technology company’s stock, valued at approximately $493,000.

A number of other institutional investors have also recently added to or reduced their stakes in SYK. Wealth Enhancement Advisory Services LLC boosted its holdings in Stryker by 78.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock valued at $45,260,000 after purchasing an additional 58,673 shares during the last quarter. M&G Plc acquired a new stake in shares of Stryker during the first quarter worth approximately $11,534,000. OFI Invest Asset Management increased its stake in shares of Stryker by 3,210.9% in the second quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company’s stock worth $1,062,000 after buying an additional 3,243 shares during the last quarter. Tidal Investments LLC raised its holdings in Stryker by 14.2% in the first quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company’s stock valued at $4,853,000 after acquiring an additional 1,681 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Stryker by 2.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company’s stock valued at $210,289,000 after acquiring an additional 16,504 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Price Performance

Shares of NYSE SYK opened at $383.28 on Friday. The stock has a market cap of $146.11 billion, a P/E ratio of 41.62, a P/E/G ratio of 2.92 and a beta of 0.91. The firm’s 50-day simple moving average is $362.94 and its 200 day simple moving average is $346.72. Stryker Co. has a fifty-two week low of $282.35 and a fifty-two week high of $392.70. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.10. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm posted $2.46 earnings per share. Equities analysts expect that Stryker Co. will post 12.06 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Wolfe Research started coverage on shares of Stryker in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price for the company. Piper Sandler restated an “overweight” rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Needham & Company LLC lifted their target price on Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. BTIG Research upped their price target on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Evercore ISI lifted their price objective on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $393.65.

Insider Activity at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. This trade represents a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,381 shares of company stock valued at $24,825,275 over the last 90 days. 5.90% of the stock is currently owned by corporate insiders.

About Stryker

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.