Segall Bryant & Hamill LLC Invests $22.15 Million in Stryker Co. (NYSE:SYK)

Segall Bryant & Hamill LLC bought a new stake in shares of Stryker Co. (NYSE:SYK - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 61,320 shares of the medical technology company's stock, valued at approximately $22,152,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Centennial Bank AR increased its stake 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 purchasing an additional 48 shares in the last quarter. HBW Advisory Services LLC purchased a new stake in Stryker in the third quarter worth about $42,000. Hara Capital LLC bought a new position in shares of Stryker in the third quarter worth about $42,000. Grove Bank & Trust lifted its position in shares of Stryker by 84.8% during 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. Finally, DT Investment Partners LLC increased its holdings in Stryker by 114.3% in the 3rd 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. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SYK shares. Stifel Nicolaus lowered their target price on shares of Stryker from $375.00 to $365.00 and set a "buy" rating on the stock in a research note on Wednesday, July 31st. BTIG Research boosted 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. Citigroup increased their price objective on shares of Stryker from $406.00 to $411.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Canaccord Genuity Group boosted their target price on shares of Stryker from $360.00 to $400.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Finally, Barclays upped their target price on shares of Stryker from $402.00 to $418.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, Stryker currently has an average rating of "Moderate Buy" and an average price target of $393.65.

Stryker Trading Down 0.2 %

SYK stock opened at $388.66 on Wednesday. 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 firm's 50-day moving average is $365.08 and its 200 day moving average is $348.40. The company has a market capitalization of $148.16 billion, a PE ratio of 41.66, a P/E/G ratio of 2.94 and a beta of 0.91. Stryker Co. has a 12 month low of $285.79 and a 12 month high of $398.20.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS 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 business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the previous year, the business posted $2.46 EPS. The company's quarterly revenue was up 11.9% compared to the same quarter last year. On average, research analysts anticipate that Stryker Co. will post 12.06 EPS for the current year.

Insider Transactions at Stryker

In related news, VP M Kathryn Fink sold 7,347 shares of the firm's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the transaction, the vice president now owns 10,042 shares of the company's stock, 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 document filed with the SEC, which is available at this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of the company's stock in a transaction 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 in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,381 shares of company stock worth $24,825,275. Insiders own 5.50% of the company's stock.

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.

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