Investment Management Corp of Ontario Acquires 3,700 Shares of Stryker Co. (NYSE:SYK)

Investment Management Corp of Ontario raised its stake in shares of Stryker Co. (NYSE:SYK) by 26.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,945 shares of the medical technology company’s stock after buying an additional 3,700 shares during the period. Investment Management Corp of Ontario’s holdings in Stryker were worth $6,483,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in SYK. Avestar Capital LLC increased its holdings in shares of Stryker by 1.1% during the 3rd quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock worth $1,065,000 after purchasing an additional 31 shares during the period. Patrick M Sweeney & Associates Inc. lifted its position in Stryker by 1.5% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock worth $793,000 after purchasing an additional 32 shares during the period. Stanley Laman Group Ltd. boosted its stake in Stryker by 4.6% during the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after buying an additional 33 shares in the last quarter. Plimoth Trust Co. LLC increased its holdings in Stryker by 0.3% in the 2nd quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock valued at $3,224,000 after buying an additional 33 shares during the period. Finally, Grimes & Company Inc. lifted its holdings in shares of Stryker by 0.4% during the 3rd quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock worth $2,977,000 after acquiring an additional 33 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Up 0.3 %

Stryker stock opened at $390.97 on Wednesday. The firm has a market capitalization of $149.04 billion, a price-to-earnings ratio of 41.90, a PEG ratio of 2.94 and a beta of 0.94. The company’s 50 day simple moving average is $369.58 and its 200 day simple moving average is $352.53. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. Stryker Co. has a fifty-two week low of $285.79 and a fifty-two week high of $398.20.

Stryker (NYSE:SYK) last announced its quarterly 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. 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 last year, the firm posted $2.46 earnings per share. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Stryker Co. will post 12.06 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SYK shares. Robert W. Baird lifted their price objective on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Wolfe Research assumed coverage on Stryker in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price target on the stock. Citigroup lifted their price objective on Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price target (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Finally, StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a research report on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $398.40.

Insider Transactions at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction on Thursday, November 7th. The shares were 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,781 shares of company stock valued at $24,612,275 over the last 90 days. 5.50% of the stock is owned by company insiders.

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.