National Bank of Canada FI Increases Stake in Stryker Co. (NYSE:SYK)

National Bank of Canada FI lifted its stake in shares of Stryker Co. (NYSE:SYK - Free Report) by 48.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 254,226 shares of the medical technology company's stock after purchasing an additional 83,219 shares during the period. National Bank of Canada FI owned 0.07% of Stryker worth $91,842,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp raised its stake in Stryker by 2.2% during the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company's stock worth $5,279,788,000 after purchasing an additional 316,404 shares during the period. FMR LLC lifted its holdings in Stryker by 3.0% in the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company's stock valued at $2,639,725,000 after acquiring an additional 215,782 shares during the last quarter. Clearbridge Investments LLC grew its position in Stryker by 2.9% in the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company's stock worth $790,554,000 after acquiring an additional 66,482 shares during the period. Parnassus Investments LLC acquired a new stake in Stryker during the third quarter worth $762,798,000. Finally, Janus Henderson Group PLC increased its stake in Stryker by 1.5% during the third quarter. Janus Henderson Group PLC now owns 1,969,757 shares of the medical technology company's stock worth $711,594,000 after acquiring an additional 28,421 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction that occurred on 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 sale, the vice president now directly owns 10,042 shares of the company's stock, valued at approximately $3,715,540. This represents a 17.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of Stryker 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 transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at $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 quarter, insiders have sold 66,781 shares of company stock valued at $24,612,275. 5.90% of the stock is owned by corporate insiders.

Stryker Stock Up 0.7 %

Stryker stock traded up $2.57 during trading on Friday, reaching $385.02. The stock had a trading volume of 1,049,412 shares, compared to its average volume of 1,293,936. Stryker Co. has a 52-week low of $285.79 and a 52-week high of $398.20. The business has a 50 day moving average price of $371.10 and a 200 day moving average price of $353.67. 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 stock has a market cap of $146.78 billion, a PE ratio of 41.27, a P/E/G ratio of 2.90 and a beta of 0.94.

Stryker (NYSE:SYK - Get Free Report) last released 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 business had revenue of $5.49 billion during the quarter, compared to analysts' expectations of $5.37 billion. During the same period in the previous year, the company earned $2.46 EPS. The company's revenue for the quarter was up 11.9% on a year-over-year basis. On average, analysts predict that Stryker Co. will post 12.06 EPS for the current year.

Analyst Ratings Changes

SYK has been the subject of a number of recent analyst reports. Piper Sandler reissued an "overweight" rating and set a $420.00 price objective (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Wolfe Research assumed coverage on shares of Stryker in a research report on Tuesday, September 10th. They set an "outperform" rating and a $405.00 price target for the company. JPMorgan Chase & Co. upped their price objective on shares of Stryker from $375.00 to $420.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. StockNews.com downgraded shares of Stryker from a "buy" rating to a "hold" rating in a report on Friday, November 22nd. Finally, Truist Financial upped their price target on Stryker from $370.00 to $380.00 and gave the stock a "hold" rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $398.40.

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.