Vinva Investment Management Ltd Increases Stock Holdings in Stryker Co. (NYSE:SYK)

Vinva Investment Management Ltd raised its position in Stryker Co. (NYSE:SYK) by 8.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,961 shares of the medical technology company’s stock after buying an additional 1,265 shares during the period. Vinva Investment Management Ltd’s holdings in Stryker were worth $5,750,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Avestar Capital LLC grew its position in Stryker by 1.1% during the third quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock valued at $1,065,000 after buying an additional 31 shares during the period. Patrick M Sweeney & Associates Inc. increased its holdings in Stryker by 1.5% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock worth $793,000 after acquiring an additional 32 shares during the period. Versant Capital Management Inc boosted its position in shares of Stryker by 4.0% during the 2nd quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock valued at $294,000 after acquiring an additional 33 shares during the last quarter. Stanley Laman Group Ltd. increased its holdings in shares of Stryker by 4.6% in the 2nd quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after buying an additional 33 shares during the last quarter. Finally, Plimoth Trust Co. LLC boosted its holdings in shares of Stryker by 0.3% in the 2nd quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock worth $3,224,000 after purchasing an additional 33 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Insider Activity

In related news, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,715,540. The trade was a 17.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. Insiders sold 66,781 shares of company stock valued at $24,612,275 over the last three months. Insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on SYK. BTIG Research upped their price target on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $420.00 price target (up previously from $380.00) on shares of Stryker in a research note 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. Wells Fargo & Company raised their target price on shares of Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group upped their target price on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $393.65.

Stryker Stock Performance

Shares of SYK opened at $388.14 on Thursday. Stryker Co. has a 12 month low of $285.79 and a 12 month high of $398.20. The business’s fifty day simple moving average is $367.50 and its two-hundred day simple moving average is $350.68. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The company has a market cap of $147.97 billion, a price-to-earnings ratio of 41.60, a P/E/G ratio of 2.94 and a beta of 0.91.

Stryker (NYSE:SYK) last released its quarterly earnings data 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 company had revenue of $5.49 billion for 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%. Stryker’s revenue was up 11.9% compared to the same quarter last year. During the same period last year, the firm posted $2.46 earnings per share. Research analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current fiscal 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.