MAI Capital Management Raises Position in Stryker Co. (NYSE:SYK)

MAI Capital Management boosted its position in Stryker Co. (NYSE:SYK - Free Report) by 16.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 90,399 shares of the medical technology company's stock after purchasing an additional 12,440 shares during the period. MAI Capital Management's holdings in Stryker were worth $32,658,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of SYK. Centennial Bank AR lifted its stake in Stryker by 106.7% in the second 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. HBW Advisory Services LLC purchased a new stake in shares of Stryker during the third quarter worth $42,000. Hara Capital LLC purchased a new stake in shares of Stryker during the third quarter worth $42,000. Grove Bank & Trust lifted its position in shares of Stryker by 84.8% during the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company's stock worth $44,000 after acquiring an additional 56 shares in the last quarter. Finally, DT Investment Partners LLC lifted its position in shares of Stryker by 114.3% during the third quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company's stock worth $49,000 after acquiring an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Trading Down 0.2 %

Shares of NYSE:SYK traded down $0.68 on Monday, reaching $389.40. 2,053,903 shares of the company traded hands, compared to its average volume of 1,270,217. The business's 50-day simple moving average is $364.61 and its 200 day simple moving average is $347.98. Stryker Co. has a 52 week low of $285.79 and a 52 week high of $398.20. The stock has a market capitalization of $148.45 billion, a P/E ratio of 41.74, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion for the quarter, compared to analysts' expectations of $5.37 billion. During the same period last year, the firm earned $2.46 earnings per share. The company's revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities analysts anticipate that Stryker Co. will post 12.06 EPS for the current fiscal year.

Insider Transactions at Stryker

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the firm's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Kevin Lobo sold 57,313 shares of the firm's 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,381 shares of company stock worth $24,825,275. Company insiders own 5.50% of the company's stock.

Analyst Ratings Changes

SYK has been the topic of several recent research reports. StockNews.com upgraded Stryker from a "hold" rating to a "buy" rating in a research report on Thursday. Citigroup upped their price target on shares of Stryker from $406.00 to $411.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Wells Fargo & Company upped their price target on shares of Stryker from $381.00 to $405.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. UBS Group upped their price target on shares of Stryker from $366.00 to $370.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Finally, Truist Financial upped their price target on shares of Stryker from $370.00 to $380.00 and gave the stock a "hold" rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target 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.