Daiwa Securities Group Inc. Raises Position in Stryker Co. (NYSE:SYK)

Daiwa Securities Group Inc. grew its holdings in Stryker Co. (NYSE:SYK) by 12.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,003 shares of the medical technology company’s stock after acquiring an additional 5,368 shares during the period. Daiwa Securities Group Inc.’s holdings in Stryker were worth $17,703,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of SYK. Wealth Enhancement Advisory Services LLC raised its position in Stryker by 78.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock valued at $45,260,000 after purchasing an additional 58,673 shares in the last quarter. OFI Invest Asset Management lifted its stake in Stryker by 3,210.9% in the second quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company’s stock worth $1,062,000 after acquiring an additional 3,243 shares during the last quarter. Tidal Investments LLC grew its holdings in Stryker by 14.2% during the 1st quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company’s stock worth $4,853,000 after acquiring an additional 1,681 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Stryker by 2.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company’s stock valued at $210,289,000 after purchasing an additional 16,504 shares during the last quarter. Finally, Sivik Global Healthcare LLC raised its holdings in shares of Stryker by 8.0% in the 3rd quarter. Sivik Global Healthcare LLC now owns 27,000 shares of the medical technology company’s stock valued at $9,754,000 after purchasing an additional 2,000 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the 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 completion of the transaction, the chief executive officer now owns 100,027 shares in the company, 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 legal filing with the SEC, which can be accessed through this link. Also, insider Viju Menon sold 600 shares of the business’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 owns 9,069 shares in the company, valued at $3,219,495. The trade was a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,381 shares of company stock valued at $24,825,275 over the last ninety days. Corporate insiders own 5.50% of the company’s stock.

Stryker Trading Down 1.4 %

Shares of SYK stock opened at $384.85 on Monday. Stryker Co. has a twelve month low of $285.79 and a twelve month high of $398.20. 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 business’s 50 day moving average is $366.20 and its two-hundred day moving average is $349.63. The company has a market capitalization of $146.71 billion, a P/E ratio of 41.25, a price-to-earnings-growth ratio of 2.90 and a beta of 0.91.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the previous year, the company posted $2.46 EPS. Stryker’s revenue was up 11.9% compared to the same quarter last year. Equities analysts forecast that Stryker Co. will post 12.06 EPS for the current year.

Wall Street Analysts Forecast Growth

SYK has been the topic of a number of analyst reports. Evercore ISI raised their price target on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a research note on Friday. Stifel Nicolaus lowered their price target on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Royal Bank of Canada raised their price objective on shares of Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Wolfe Research started coverage on shares of Stryker in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price on the stock. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $393.65.

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.