Healthcare of Ontario Pension Plan Trust Fund Increases Stock Holdings in Stryker Co. (NYSE:SYK)

Healthcare of Ontario Pension Plan Trust Fund raised its position in Stryker Co. (NYSE:SYK) by 162.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 144,283 shares of the medical technology company’s stock after purchasing an additional 89,283 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Stryker were worth $52,124,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Centennial Bank AR increased its position in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of Stryker during the 3rd quarter worth about $36,000. Hara Capital LLC acquired a new position in Stryker in the 3rd quarter valued at about $42,000. HBW Advisory Services LLC acquired a new position in Stryker in the 3rd quarter valued at about $42,000. Finally, Grove Bank & Trust grew its position in Stryker by 84.8% in the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after acquiring an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wells Fargo & Company boosted their target price on Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Barclays upped their price objective on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Needham & Company LLC boosted 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. Canaccord Genuity Group boosted their target price on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler restated an “overweight” rating and issued a $420.00 price objective (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

Insider Activity

In other news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction dated 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 in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. The trade was a 17.44 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,781 shares of company stock worth $24,612,275. 5.90% of the stock is owned by company insiders.

Stryker Trading Down 0.4 %

NYSE:SYK opened at $388.14 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The business’s 50 day moving average is $367.50 and its two-hundred day moving average is $350.68. Stryker Co. has a 52 week low of $285.79 and a 52 week high of $398.20. The company has a market cap of $147.97 billion, a PE ratio of 41.60, a P/E/G 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.10. The business had revenue of $5.49 billion for the quarter, compared to the consensus estimate 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 last year, the business posted $2.46 EPS. On average, analysts predict that Stryker Co. will post 12.06 EPS for the current year.

Stryker Company 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.