Stryker Co. (NYSE:SYK) Shares Acquired by MAI Capital Management

MAI Capital Management boosted its stake in Stryker Co. (NYSE:SYK) by 16.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 90,399 shares of the medical technology company’s stock after buying an additional 12,440 shares during the period. MAI Capital Management’s holdings in Stryker were worth $32,658,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC grew its stake 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 worth $45,260,000 after purchasing an additional 58,673 shares in the last quarter. OFI Invest Asset Management increased its stake in Stryker by 3,210.9% during the second quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company’s stock valued at $1,062,000 after purchasing an additional 3,243 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Stryker by 14.2% during the first quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company’s stock worth $4,853,000 after purchasing an additional 1,681 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Stryker by 2.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company’s stock worth $210,289,000 after buying an additional 16,504 shares during the last quarter. Finally, Fiera Capital Corp grew its position in shares of Stryker by 42.1% during the 2nd quarter. Fiera Capital Corp now owns 16,713 shares of the medical technology company’s stock valued at $5,687,000 after buying an additional 4,948 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SYK. Citigroup lifted their target price on Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Needham & Company LLC boosted their target price on shares of Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Evercore ISI increased their price objective on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Wolfe Research began coverage on Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price target for the company. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $393.65.

Insider Buying and Selling

In related news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at $3,685,213.16. This represents a 42.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 67,381 shares of company stock valued at $24,825,275. Company insiders own 5.50% of the company’s stock.

Stryker Stock Performance

Shares of NYSE SYK opened at $390.08 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. Stryker Co. has a one year low of $282.35 and a one year high of $392.70. The business’s 50-day moving average price is $364.07 and its two-hundred day moving average price is $347.54. The company has a market capitalization of $148.71 billion, a P/E ratio of 41.81, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 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 return on equity of 23.07% and a net margin of 16.34%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.46 EPS. Analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

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.