Commerce Bank Has $65.22 Million Position in Stryker Co. (NYSE:SYK)

Commerce Bank grew its position in Stryker Co. (NYSE:SYK) by 2.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 180,523 shares of the medical technology company’s stock after purchasing an additional 4,362 shares during the quarter. Commerce Bank’s holdings in Stryker were worth $65,216,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Segall Bryant & Hamill LLC acquired a new stake in Stryker during the 3rd quarter worth $22,152,000. Prospera Private Wealth LLC bought a new stake in shares of Stryker in the third quarter worth about $124,000. Premier Fund Managers Ltd raised its position in shares of Stryker by 6.2% during the third quarter. Premier Fund Managers Ltd now owns 46,190 shares of the medical technology company’s stock worth $16,637,000 after purchasing an additional 2,700 shares during the period. West Family Investments Inc. lifted its holdings in shares of Stryker by 7.3% during the 3rd quarter. West Family Investments Inc. now owns 1,346 shares of the medical technology company’s stock valued at $486,000 after purchasing an additional 91 shares in the last quarter. Finally, Parnassus Investments LLC acquired a new position in shares of Stryker in the 3rd quarter valued at approximately $762,798,000. 77.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on SYK. UBS Group raised their target price on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Truist Financial boosted their price objective on shares of Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Evercore ISI increased their target price on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, BTIG Research upped their price objective on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

Insiders Place Their Bets

In other news, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This trade represents a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,381 shares of company stock worth $24,825,275 in the last 90 days. Company insiders own 5.50% of the company’s stock.

Stryker Stock Performance

Shares of SYK stock opened at $388.66 on Wednesday. Stryker Co. has a 52 week low of $285.79 and a 52 week high of $398.20. The company has a market capitalization of $148.16 billion, a price-to-earnings ratio of 41.66, a PEG ratio of 2.94 and a beta of 0.91. The company has a 50-day simple moving average of $365.08 and a 200 day simple moving average of $348.40. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. The company 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 business’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.46 earnings per share. On average, sell-side analysts predict that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Profile

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.