Drive Wealth Management LLC Raises Stake in Stryker Co. (NYSE:SYK)

Drive Wealth Management LLC increased its position in shares of Stryker Co. (NYSE:SYK) by 10.3% in the third quarter, HoldingsChannel.com reports. The firm owned 720 shares of the medical technology company’s stock after acquiring an additional 67 shares during the quarter. Drive Wealth Management LLC’s holdings in Stryker were worth $261,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. International Assets Investment Management LLC boosted its holdings in shares of Stryker by 66,967.5% in the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after acquiring an additional 852,496 shares during the period. 1832 Asset Management L.P. boosted its stake in shares of Stryker by 146.9% in the first quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock valued at $314,449,000 after buying an additional 522,817 shares in the last quarter. American Century Companies Inc. raised its position in Stryker by 287.6% in the second quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock worth $172,033,000 after acquiring an additional 375,166 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in Stryker by 49.8% in the second quarter. Canada Pension Plan Investment Board now owns 686,416 shares of the medical technology company’s stock valued at $233,553,000 after acquiring an additional 228,139 shares during the period. Finally, Sofinnova Investments Inc. purchased a new stake in shares of Stryker during the 2nd quarter worth $65,697,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. BTIG Research upped their price target on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. UBS Group raised their target price on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Stifel Nicolaus lowered their target price on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Wolfe Research began coverage on shares of Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price for the company. Finally, StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $393.65.

Stryker Stock Down 0.2 %

NYSE:SYK opened at $389.40 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The company has a market capitalization of $148.45 billion, a price-to-earnings ratio of 41.74, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. Stryker Co. has a one year low of $285.79 and a one year high of $398.20. The stock has a 50-day simple moving average of $364.61 and a 200 day simple moving average of $347.98.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.77 by $0.10. The company had revenue of $5.49 billion during the quarter, compared to analyst estimates 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 firm earned $2.46 EPS. Sell-side analysts predict that Stryker Co. will post 12.06 EPS for the current fiscal year.

Insider Buying and Selling at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Viju Menon sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. This trade represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,381 shares of company stock worth $24,825,275 over the last 90 days. Insiders own 5.50% of the company’s stock.

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.