Comgest Global Investors S.A.S. Boosts Position in Stryker Co. (NYSE:SYK)

Comgest Global Investors S.A.S. lifted its position in shares of Stryker Co. (NYSE:SYK - Free Report) by 159.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 46,176 shares of the medical technology company's stock after buying an additional 28,349 shares during the quarter. Comgest Global Investors S.A.S.'s holdings in Stryker were worth $16,682,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Centennial Bank AR grew its holdings in shares of 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 in the last quarter. HBW Advisory Services LLC bought a new position in Stryker during the third quarter valued at $42,000. Hara Capital LLC purchased a new stake in shares of Stryker during the 3rd quarter valued at about $42,000. Grove Bank & Trust lifted its holdings in shares of 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 acquiring an additional 56 shares during the last quarter. Finally, DT Investment Partners LLC lifted its holdings in shares of Stryker by 114.3% in the 3rd quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company's stock valued at $49,000 after acquiring an additional 72 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wolfe Research assumed coverage on shares of Stryker in a research note on Tuesday, September 10th. They set an "outperform" rating and a $405.00 price objective for the company. BTIG Research upped their target price on Stryker from $383.00 to $394.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Piper Sandler restated an "overweight" rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Needham & Company LLC lifted their target price on Stryker from $393.00 to $409.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Finally, Barclays lifted their target price on Stryker from $402.00 to $418.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $393.65.

Stryker Stock Up 1.8 %

Shares of NYSE SYK traded up $6.80 during trading hours on Friday, hitting $390.08. 2,874,077 shares of the stock were exchanged, compared to its average volume of 1,335,082. The firm has a fifty day moving average price of $364.07 and a 200-day moving average price of $347.33. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker Co. has a 12 month low of $282.35 and a 12 month high of $392.70. The company has a market cap of $148.71 billion, a PE ratio of 41.81, a PEG ratio of 2.89 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping 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 during the quarter, compared to analysts' expectations of $5.37 billion. During the same quarter last year, the firm earned $2.46 EPS. The business's quarterly revenue was up 11.9% on a year-over-year basis. On average, sell-side analysts expect that Stryker Co. will post 12.06 EPS for the current year.

Insider Transactions at Stryker

In other news, insider Viju Menon sold 600 shares of Stryker stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now directly owns 9,069 shares of the company's stock, valued at $3,219,495. The trade was a 6.21 % decrease in their ownership of the stock. The sale was disclosed in a legal 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 on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the transaction, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. 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 5.90% of the company's stock.

About Stryker

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.