Fmr LLC Grows Stock Position in Stryker Co. (NYSE:SYK)

FMR LLC boosted its holdings in Stryker Co. (NYSE:SYK - Free Report) by 3.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,306,994 shares of the medical technology company's stock after buying an additional 215,782 shares during the quarter. FMR LLC owned 1.92% of Stryker worth $2,639,725,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Centennial Bank AR increased its position in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company's stock valued at $32,000 after purchasing an additional 48 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in shares of Stryker during the 3rd quarter valued at $36,000. Hara Capital LLC purchased a new position in shares of Stryker in the third quarter valued at about $42,000. HBW Advisory Services LLC bought a new position in Stryker in the 3rd quarter worth approximately $42,000. Finally, Grove Bank & Trust increased its holdings in Stryker by 84.8% in the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company's stock valued at $44,000 after acquiring an additional 56 shares during the last quarter. Institutional investors own 77.09% of the company's stock.

Insider Transactions at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer now directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP M Kathryn Fink sold 7,347 shares of the business's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the transaction, the vice president now directly owns 10,042 shares in the company, valued at $3,685,213.16. This trade represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,781 shares of company stock valued at $24,612,275 in the last three months. 5.50% of the stock is currently owned by company insiders.

Stryker Stock Performance

SYK stock traded up $4.64 during midday trading on Tuesday, hitting $389.55. 697,239 shares of the stock traded hands, compared to its average volume of 1,270,021. Stryker Co. has a 1-year low of $285.79 and a 1-year high of $398.20. 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 stock's fifty day simple moving average is $366.45 and its 200-day simple moving average is $350.00. The firm has a market cap of $148.50 billion, a P/E ratio of 41.23, a PEG ratio of 2.90 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.10. The firm had revenue of $5.49 billion during 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%. Stryker's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.46 EPS. On average, analysts expect that Stryker Co. will post 12.06 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on SYK shares. Stifel Nicolaus decreased their price objective on Stryker from $375.00 to $365.00 and set a "buy" rating on the stock in a report on Wednesday, July 31st. Evercore ISI increased their target price on shares of Stryker from $380.00 to $384.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. BTIG Research boosted their price objective on Stryker from $383.00 to $394.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. StockNews.com downgraded shares of Stryker from a "buy" rating to a "hold" rating in a research note on Friday. Finally, JPMorgan Chase & Co. increased their target price on shares of Stryker from $375.00 to $420.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $393.65.

Stryker 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.