Harbour Investments Inc. Raises Stake in Stryker Co. (NYSE:SYK)

Harbour Investments Inc. boosted its holdings in Stryker Co. (NYSE:SYK) by 4.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 6,330 shares of the medical technology company’s stock after buying an additional 256 shares during the period. Harbour Investments Inc.’s holdings in Stryker were worth $2,287,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Koshinski Asset Management Inc. purchased a new stake in shares of Stryker during the 1st quarter valued at about $795,000. Wealth Enhancement Advisory Services LLC raised its stake in Stryker by 78.9% during 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 acquiring an additional 58,673 shares in the last quarter. M&G Plc acquired a new stake in shares of Stryker in the 1st quarter worth approximately $11,534,000. OFI Invest Asset Management lifted its holdings in shares of 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 valued at $1,062,000 after buying an additional 3,243 shares during the period. Finally, Tidal Investments LLC boosted its holdings in Stryker by 14.2% during the first quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company’s stock worth $4,853,000 after buying an additional 1,681 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SYK has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on shares of Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Royal Bank of Canada increased their price target on shares of Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Wolfe Research initiated coverage on Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price objective on the stock. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Canaccord Genuity Group increased their price objective on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Stryker has an average rating of “Moderate Buy” and an average target price of $393.65.

Stryker Price Performance

Shares of SYK opened at $388.34 on Thursday. The business has a 50-day moving average of $362.38 and a 200-day moving average of $346.42. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The company has a market capitalization of $148.04 billion, a price-to-earnings ratio of 41.62, a price-to-earnings-growth ratio of 2.92 and a beta of 0.91. Stryker Co. has a 1 year low of $282.35 and a 1 year high of $390.59.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter last year, the business earned $2.46 EPS. The company’s revenue was up 11.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Kevin Lobo sold 57,313 shares of the business’s 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 transaction, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,685,213.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,381 shares of company stock worth $24,825,275. Company insiders own 5.90% of the company’s stock.

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.