Stryker Co. (NYSE:SYK) Stake Increased by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC raised its stake in shares of Stryker Co. (NYSE:SYK) by 1.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,075 shares of the medical technology company’s stock after acquiring an additional 74 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Stryker were worth $1,472,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Clearbridge Investments LLC lifted its position in shares of Stryker by 2.9% during the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock worth $790,554,000 after purchasing an additional 66,482 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Stryker by 4.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,209,769 shares of the medical technology company’s stock worth $411,624,000 after buying an additional 46,375 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Stryker by 2.9% in the 3rd 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. Swiss National Bank increased its holdings in shares of Stryker by 0.4% in the 3rd quarter. Swiss National Bank now owns 1,017,600 shares of the medical technology company’s stock valued at $367,618,000 after acquiring an additional 4,300 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in shares of Stryker by 146.9% in the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock valued at $314,449,000 after acquiring an additional 522,817 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SYK. Evercore ISI raised their price objective on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Wolfe Research started coverage on shares of Stryker in a report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price target for the company. Stifel Nicolaus dropped their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Truist Financial lifted their target price on Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Insider Activity

In other news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at $3,685,213.16. This represents a 42.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Viju Menon sold 600 shares of Stryker stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now owns 9,069 shares in the company, valued at $3,219,495. This 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 valued at $24,825,275 over the last three months. Insiders own 5.50% of the company’s stock.

Stryker Stock Performance

NYSE:SYK opened at $388.66 on Wednesday. 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 50-day moving average of $365.08 and a 200-day moving average of $348.40. Stryker Co. has a twelve month low of $285.79 and a twelve month high of $398.20. The firm has a market cap of $148.16 billion, a price-to-earnings ratio of 41.66, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm’s revenue for the quarter 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. Analysts forecast that Stryker Co. will post 12.06 earnings per share for the current fiscal 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.