KBC Group NV Grows Stake in Stryker Co. (NYSE:SYK)

KBC Group NV increased its position in Stryker Co. (NYSE:SYK - Free Report) by 34.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 446,338 shares of the medical technology company's stock after buying an additional 113,422 shares during the quarter. KBC Group NV owned 0.12% of Stryker worth $161,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Stryker Stock Performance

NYSE SYK traded up $1.55 during trading hours on Thursday, hitting $389.89. The company's stock had a trading volume of 890,803 shares, compared to its average volume of 1,255,245. The company's 50 day simple moving average is $362.94 and its two-hundred day simple moving average is $346.72. 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 cap of $148.63 billion, a P/E ratio of 41.62, a price-to-earnings-growth ratio of 2.92 and a beta of 0.91. Stryker Co. has a 12 month low of $282.35 and a 12 month high of $392.70.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data 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. 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 analysts' expectations of $5.37 billion. During the same period in the previous year, the company earned $2.46 earnings per share. The firm's quarterly revenue was up 11.9% on a year-over-year basis. As a group, sell-side analysts expect that Stryker Co. will post 12.06 EPS for the current fiscal year.

Insider Transactions at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the company'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 transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares of the company's stock, valued at approximately $36,879,954.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Kevin Lobo sold 57,313 shares of Stryker 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 transaction, the chief executive officer now directly owns 100,027 shares of the company's stock, valued at $36,879,954.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Viju Menon sold 600 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares of the company's stock, valued at $3,219,495. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,381 shares of company stock worth $24,825,275 in the last ninety days. Insiders own 5.90% of the company's stock.

Analyst Upgrades and Downgrades

SYK has been the subject of several analyst reports. Piper Sandler reissued an "overweight" rating and set a $420.00 price target (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. 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. Needham & Company LLC boosted their price target on Stryker from $393.00 to $409.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Canaccord Genuity Group increased their price objective on Stryker from $360.00 to $400.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Finally, UBS Group boosted their target price on Stryker from $366.00 to $370.00 and gave the company a "neutral" rating in a research note 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's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus 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.