Premier Fund Managers Ltd Purchases 2,700 Shares of Stryker Co. (NYSE:SYK)

Premier Fund Managers Ltd increased its position in shares of Stryker Co. (NYSE:SYK) by 6.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 46,190 shares of the medical technology company’s stock after acquiring an additional 2,700 shares during the period. Premier Fund Managers Ltd’s holdings in Stryker were worth $16,637,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Clearbridge Investments LLC lifted its holdings in shares of Stryker by 2.9% during the 2nd quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock valued at $790,554,000 after purchasing an additional 66,482 shares during the last quarter. Parnassus Investments LLC acquired a new position in Stryker during the 3rd quarter valued at about $762,798,000. The Manufacturers Life Insurance Company raised its stake in Stryker by 4.0% in the second quarter. The Manufacturers Life Insurance Company now owns 1,209,769 shares of the medical technology company’s stock valued at $411,624,000 after buying an additional 46,375 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Stryker by 2.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,143,573 shares of the medical technology company’s stock worth $413,127,000 after acquiring an additional 32,491 shares in the last quarter. Finally, Swiss National Bank grew its stake in shares of Stryker by 0.4% during the third quarter. Swiss National Bank now owns 1,017,600 shares of the medical technology company’s stock worth $367,618,000 after acquiring an additional 4,300 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on SYK. BTIG Research increased their price objective on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Citigroup upped their target price on Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Wells Fargo & Company lifted their price target on Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, UBS Group increased their price objective on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

Insider Activity

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Viju Menon sold 600 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The trade was a 6.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,381 shares of company stock worth $24,825,275 over the last 90 days. 5.50% of the stock is currently owned by company insiders.

Stryker Stock Down 0.2 %

SYK opened at $388.66 on Wednesday. Stryker Co. has a fifty-two week low of $285.79 and a fifty-two week high of $398.20. 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 stock 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 fifty day moving average of $365.08 and a two-hundred day moving average of $348.40.

Stryker (NYSE:SYK) last issued its quarterly earnings results 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 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%. Stryker’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.46 earnings per share. On average, research analysts expect that Stryker Co. will post 12.06 earnings per share for the current year.

About Stryker

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.