Stryker Co. (NYSE:SYK) Shares Bought by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI increased its stake in Stryker Co. (NYSE:SYK - Free Report) by 9.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,673 shares of the medical technology company's stock after buying an additional 5,033 shares during the period. Citizens Financial Group Inc. RI's holdings in Stryker were worth $20,113,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Patrick M Sweeney & Associates Inc. grew its holdings in shares of Stryker by 1.5% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company's stock valued at $793,000 after buying an additional 32 shares in the last quarter. Versant Capital Management Inc grew its position in Stryker by 4.0% during the second quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company's stock valued at $294,000 after purchasing an additional 33 shares in the last quarter. Stanley Laman Group Ltd. increased its stake in Stryker by 4.6% in the 2nd quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company's stock valued at $256,000 after buying an additional 33 shares during the period. Plimoth Trust Co. LLC lifted its position in Stryker by 0.3% in the 2nd quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company's stock worth $3,224,000 after buying an additional 33 shares in the last quarter. Finally, Grimes & Company Inc. boosted its stake in shares of Stryker by 0.4% during the 3rd quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company's stock valued at $2,977,000 after buying an additional 33 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the business'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 sale, the chief executive officer now owns 100,027 shares of the company's stock, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The sale was disclosed in a filing with the SEC, 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 stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 67,381 shares of company stock valued at $24,825,275 in the last quarter. Corporate insiders own 5.90% of the company's stock.

Stryker Trading Down 0.8 %

Shares of SYK stock opened at $385.68 on Thursday. The firm has a market capitalization of $147.03 billion, a P/E ratio of 41.34, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91. Stryker Co. has a 1 year low of $285.79 and a 1 year high of $398.20. The firm's fifty day simple moving average is $365.46 and its 200 day simple moving average is $348.66. 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 posted its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the previous year, the firm posted $2.46 EPS. The business's revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts predict that Stryker Co. will post 12.06 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SYK. Robert W. Baird increased 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. Piper Sandler reiterated an "overweight" rating and set a $420.00 price target (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Royal Bank of Canada increased their price objective on Stryker from $386.00 to $400.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Truist Financial lifted their target price on shares of Stryker from $370.00 to $380.00 and gave the company a "hold" rating in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus dropped their price target 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. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $393.65.

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.

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