Kovitz Investment Group Partners LLC Raises Position in Stryker Co. (NYSE:SYK)

Kovitz Investment Group Partners LLC boosted its stake in shares of Stryker Co. (NYSE:SYK - Free Report) by 60.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,691 shares of the medical technology company's stock after buying an additional 4,406 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Stryker were worth $4,223,000 as of its most recent SEC filing.

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

Stryker Price Performance

SYK traded down $3.98 during trading on Monday, reaching $381.04. The stock had a trading volume of 924,899 shares, compared to its average volume of 1,261,919. The stock has a market cap of $145.26 billion, a PE ratio of 40.84, a PEG ratio of 2.90 and a beta of 0.94. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. Stryker Co. has a one year low of $285.79 and a one year high of $398.20. The business has a 50-day moving average of $371.49 and a 200-day moving average of $354.02.

Stryker (NYSE:SYK - Get Free Report) last released its 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 business had revenue of $5.49 billion for the quarter, compared to analysts' expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm's revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.46 earnings per share. As a group, equities research analysts anticipate that Stryker Co. will post 12.06 EPS for the current fiscal year.

Insider Buying and Selling at Stryker

In other news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction dated 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 sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. This represents a 17.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of the 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 sale, the chief executive officer now owns 100,027 shares of the company's stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,781 shares of company stock worth $24,612,275 over the last three months. Company insiders own 5.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SYK. StockNews.com lowered Stryker from a "buy" rating to a "hold" rating in a research report on Friday, November 22nd. Robert W. Baird boosted their price objective on Stryker from $378.00 to $405.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their price objective on Stryker from $381.00 to $405.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. BTIG Research boosted their price objective on Stryker from $383.00 to $394.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Finally, Canaccord Genuity Group boosted 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. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $398.40.

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.