Charles Schwab Investment Management Inc. Has $699.48 Million Stock Position in Stryker Co. (NYSE:SYK)

Charles Schwab Investment Management Inc. grew its stake in shares of Stryker Co. (NYSE:SYK - Free Report) by 1.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,936,226 shares of the medical technology company's stock after acquiring an additional 37,000 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.51% of Stryker worth $699,481,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Clearbridge Investments LLC increased its position in Stryker by 2.9% during the 2nd 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 in the last quarter. Parnassus Investments LLC purchased a new position in Stryker in the 3rd quarter worth approximately $762,798,000. The Manufacturers Life Insurance Company boosted its holdings in Stryker by 4.0% in 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 acquiring an additional 46,375 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in 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 during the period. Finally, Swiss National Bank boosted its holdings in Stryker by 0.4% in the 3rd quarter. Swiss National Bank now owns 1,017,600 shares of the medical technology company's stock worth $367,618,000 after acquiring an additional 4,300 shares during the period. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Stock Performance

Shares of SYK traded down $5.26 during trading hours on Friday, reaching $384.88. 1,069,680 shares of the company's stock traded hands, compared to its average volume of 1,269,104. The firm has a market capitalization of $146.72 billion, a price-to-earnings ratio of 41.25, a P/E/G ratio of 2.93 and a beta of 0.91. 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 twelve month low of $285.79 and a twelve month high of $398.20. The business's fifty day simple moving average is $366.20 and its two-hundred day simple moving average is $349.36.

Stryker (NYSE:SYK - Get Free Report) last issued 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. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company's quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the company earned $2.46 earnings per share. Analysts predict that Stryker Co. will post 12.06 earnings per share for the current year.

Insider Buying and Selling

In related news, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the transaction, the vice president now directly owns 10,042 shares of the company's stock, valued at $3,715,540. The trade was a 17.44 % decrease in their ownership of the stock. 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 shares were 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 of the company's stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,381 shares of company stock valued at $24,825,275 over the last three months. Company insiders own 5.90% of the company's stock.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of analyst reports. Canaccord Genuity Group upped their price target on Stryker from $360.00 to $400.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. StockNews.com cut Stryker from a "buy" rating to a "hold" rating in a report on Friday. Piper Sandler reiterated an "overweight" rating and set a $420.00 target price (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Barclays increased their target price on Stryker from $402.00 to $418.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Finally, Wolfe Research initiated coverage on Stryker in a research note on Tuesday, September 10th. They set an "outperform" rating and a $405.00 target price for the company. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Stryker has a consensus rating of "Moderate Buy" and an average target price of $393.65.

Stryker Company Profile

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.