Icon Wealth Advisors LLC Buys 2,316 Shares of Stryker Co. (NYSE:SYK)

Icon Wealth Advisors LLC lifted its position in Stryker Co. (NYSE:SYK - Free Report) by 461.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,818 shares of the medical technology company's stock after acquiring an additional 2,316 shares during the period. Icon Wealth Advisors LLC's holdings in Stryker were worth $1,018,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Clearbridge Investments LLC boosted its position in shares of Stryker by 2.9% during the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company's stock worth $790,554,000 after buying an additional 66,482 shares during the period. Parnassus Investments LLC acquired a new stake in shares of Stryker in the third quarter valued at about $762,798,000. Charles Schwab Investment Management Inc. raised its holdings in Stryker by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,936,226 shares of the medical technology company's stock worth $699,481,000 after acquiring an additional 37,000 shares in the last quarter. The Manufacturers Life Insurance Company boosted 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 valued at $411,624,000 after purchasing an additional 46,375 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of Stryker by 2.9% during 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 purchasing an additional 32,491 shares during the last quarter. Institutional investors own 77.09% of the company's stock.

Stryker Price Performance

NYSE SYK traded down $5.29 during midday trading on Friday, hitting $384.85. The company had a trading volume of 1,069,692 shares, compared to its average volume of 1,498,897. Stryker Co. has a twelve month low of $285.79 and a twelve month high of $398.20. The firm has a 50-day moving average price of $366.20 and a 200-day moving average price of $349.36. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $146.71 billion, a PE ratio of 41.25, a P/E/G ratio of 2.94 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last posted 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 business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same quarter last year, the business posted $2.46 EPS. The firm's revenue for the quarter was up 11.9% on a year-over-year basis. As a group, analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Stryker news, insider Viju Menon sold 600 shares of the business's stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the sale, the insider now owns 9,069 shares of the company's stock, valued at approximately $3,219,495. The trade was a 6.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the transaction, the vice president now 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 disclosure for this sale can be found here. Insiders sold a total of 67,381 shares of company stock worth $24,825,275 in the last ninety days. 5.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SYK shares. Robert W. Baird raised their target price on shares of Stryker from $378.00 to $405.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Wells Fargo & Company boosted their price objective on shares of Stryker from $381.00 to $405.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Barclays raised their target price on shares of Stryker from $402.00 to $418.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. BTIG Research lifted their price target on Stryker from $383.00 to $394.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Finally, Piper Sandler restated an "overweight" rating and issued a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Stryker currently has a consensus rating of "Moderate Buy" and a consensus target price 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.