Zurcher Kantonalbank Zurich Cantonalbank Acquires 12,418 Shares of Stryker Co. (NYSE:SYK)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Stryker Co. (NYSE:SYK) by 8.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 154,391 shares of the medical technology company’s stock after purchasing an additional 12,418 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Stryker were worth $55,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Centennial Bank AR grew its stake in shares of Stryker by 106.7% in the second 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 purchased a new stake in Stryker in the third quarter worth about $36,000. Hara Capital LLC purchased a new stake in Stryker in the third quarter worth about $42,000. HBW Advisory Services LLC purchased a new stake in Stryker in the third quarter worth about $42,000. Finally, Grove Bank & Trust lifted its holdings in Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after buying an additional 56 shares during the period. 77.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SYK has been the subject of several research analyst reports. Canaccord Genuity Group raised their price objective on shares of Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. BTIG Research lifted their target price on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada lifted their target price on shares of Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Stifel Nicolaus lowered their target price on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Needham & Company LLC lifted their target price on shares of Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $393.65.

Insider Activity at Stryker

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, the vice president now owns 10,042 shares in the company, valued at $3,715,540. The trade was a 17.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kevin Lobo sold 57,313 shares of the business’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 owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,781 shares of company stock worth $24,612,275. 5.90% of the stock is owned by corporate insiders.

Stryker Stock Down 0.4 %

SYK opened at $388.14 on Thursday. 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 Co. has a fifty-two week low of $285.79 and a fifty-two week high of $398.20. The firm’s fifty day moving average is $367.50 and its 200 day moving average is $350.68. The stock has a market cap of $147.97 billion, a price-to-earnings ratio of 41.60, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the previous year, the company earned $2.46 EPS. Stryker’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, sell-side analysts forecast 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.