SouthState Corp Boosts Stock Holdings in Stryker Co. (NYSE:SYK)

SouthState Corp grew its position in Stryker Co. (NYSE:SYK - Free Report) by 16.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 17,509 shares of the medical technology company's stock after acquiring an additional 2,492 shares during the period. SouthState Corp's holdings in Stryker were worth $6,325,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. W.G. Shaheen & Associates DBA Whitney & Co raised its stake in shares of Stryker by 1.5% during the third quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 28,721 shares of the medical technology company's stock valued at $10,376,000 after acquiring an additional 415 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its position in Stryker by 1.8% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 4,075 shares of the medical technology company's stock worth $1,472,000 after purchasing an additional 74 shares during the last quarter. Prospera Financial Services Inc lifted its holdings in Stryker by 0.5% during the 3rd quarter. Prospera Financial Services Inc now owns 15,606 shares of the medical technology company's stock worth $5,640,000 after buying an additional 81 shares during the period. Chesapeake Wealth Management grew its position in shares of Stryker by 10.0% in the 3rd quarter. Chesapeake Wealth Management now owns 942 shares of the medical technology company's stock valued at $340,000 after buying an additional 86 shares during the last quarter. Finally, Caprock Group LLC increased its position in Stryker by 2.8% during the 3rd quarter. Caprock Group LLC now owns 8,611 shares of the medical technology company's stock valued at $3,118,000 after purchasing an additional 234 shares during the period. Institutional investors own 77.09% of the company's stock.

Analysts Set New Price Targets

SYK has been the subject of several recent analyst reports. StockNews.com upgraded Stryker from a "hold" rating to a "buy" rating in a report on Thursday, November 14th. Citigroup upped 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. Needham & Company LLC boosted their target price on Stryker from $393.00 to $409.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Evercore ISI increased their price target on Stryker from $380.00 to $384.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Finally, Wolfe Research assumed coverage on Stryker in a report on Tuesday, September 10th. They set an "outperform" rating and a $405.00 price objective for the company. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Stryker presently has an average rating of "Moderate Buy" and a consensus price target of $393.65.

Insider Buying and Selling

In other news, VP M Kathryn Fink sold 2,121 shares of the company's stock in a transaction dated Friday, September 13th. The stock was 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 directly owns 10,042 shares in the company, valued at approximately $3,715,540. This represents a 17.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Viju Menon sold 600 shares of the firm's stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. This represents a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,381 shares of company stock worth $24,825,275. Corporate insiders own 5.50% of the company's stock.

Stryker Price Performance

SYK traded down $0.72 during trading on Tuesday, reaching $388.68. 1,524,142 shares of the company were exchanged, compared to its average volume of 1,271,352. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The company has a market cap of $148.17 billion, a price-to-earnings ratio of 41.74, 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. The company's 50-day moving average is $364.61 and its two-hundred day moving average is $347.98.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data 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. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period last year, the business earned $2.46 earnings per share. Stryker's revenue was up 11.9% compared to the same quarter last year. Research analysts forecast that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

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.