Black Diamond Financial LLC bought a new stake in Stryker Co. (NYSE:SYK - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,862 shares of the medical technology company's stock, valued at approximately $673,000.
Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Stryker by 1.0% during the first quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company's stock worth $11,258,373,000 after buying an additional 309,592 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Stryker by 10.4% in the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company's stock valued at $3,096,078,000 after purchasing an additional 813,311 shares during the period. Clearbridge Investments LLC lifted its stake in Stryker by 2.9% in 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. The Manufacturers Life Insurance Company increased its position in Stryker by 4.0% during the second 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. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake 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 valued at $413,127,000 after buying an additional 32,491 shares during the period. Institutional investors and hedge funds own 77.09% of the company's stock.
Insider Buying and Selling at Stryker
In other news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction that occurred 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 transaction, the vice president now directly owns 10,042 shares of the company's stock, valued at $3,715,540. This represents a 17.44 % 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, 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 transaction, the chief executive officer now owns 100,027 shares of the company's stock, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,381 shares of company stock worth $24,825,275. 5.90% of the stock is owned by corporate insiders.
Stryker Price Performance
NYSE:SYK traded up $6.80 on Friday, hitting $390.08. The company had a trading volume of 2,874,032 shares, compared to its average volume of 1,266,685. The firm has a 50 day moving average of $363.45 and a two-hundred day moving average of $346.97. The stock has a market capitalization of $148.71 billion, a price-to-earnings ratio of 41.26, a PEG ratio of 2.93 and a beta of 0.91. Stryker Co. has a 52 week low of $282.35 and a 52 week high of $392.70. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66.
Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating analysts' consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the previous year, the company posted $2.46 EPS. The business's revenue was up 11.9% on a year-over-year basis. On average, research analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current year.
Analyst Ratings Changes
SYK has been the topic of a number of research reports. Wolfe Research assumed coverage on shares of Stryker in a research note on Tuesday, September 10th. They issued an "outperform" rating and a $405.00 price target on the stock. UBS Group upped their target price on Stryker from $366.00 to $370.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Royal Bank of Canada boosted their price target on Stryker from $386.00 to $400.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their price objective on Stryker from $375.00 to $420.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Finally, 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 report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Stryker presently has an average rating of "Moderate Buy" and a consensus target price of $393.65.
Check Out Our Latest Report on Stryker
Stryker Profile
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Free Report)
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.
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