Victory Capital Management Inc. Grows Position in Stryker Co. (NYSE:SYK)

Victory Capital Management Inc. raised its stake in Stryker Co. (NYSE:SYK - Free Report) by 5.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 163,822 shares of the medical technology company's stock after buying an additional 8,745 shares during the quarter. Victory Capital Management Inc.'s holdings in Stryker were worth $59,182,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Centennial Bank AR increased 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 during the last quarter. HBW Advisory Services LLC acquired a new stake in Stryker in the 3rd quarter valued at $42,000. Hara Capital LLC bought a new position in Stryker during the 3rd quarter valued at $42,000. Grove Bank & Trust increased its holdings in Stryker by 84.8% in the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company's stock worth $44,000 after acquiring an additional 56 shares during the last quarter. Finally, DT Investment Partners LLC grew its holdings in Stryker by 114.3% during the 3rd quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company's stock valued at $49,000 after buying an additional 72 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SYK shares. Wells Fargo & Company upped their target price on Stryker from $381.00 to $405.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Royal Bank of Canada boosted their price objective on shares of Stryker from $386.00 to $400.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. BTIG Research upped their target price on Stryker from $383.00 to $394.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Canaccord Genuity Group upped their target price on Stryker from $360.00 to $400.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Finally, 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. Four 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, Stryker has an average rating of "Moderate Buy" and an average price target of $393.65.

Stryker Stock Performance

Stryker stock traded up $6.77 during midday trading on Friday, reaching $390.05. 1,142,967 shares of the company's stock were exchanged, compared to its average volume of 1,258,887. Stryker Co. has a 52 week low of $282.35 and a 52 week high of $392.70. The firm has a market cap of $148.69 billion, a price-to-earnings ratio of 41.26, a P/E/G ratio of 2.93 and a beta of 0.91. The stock's 50-day simple moving average is $363.45 and its 200 day simple moving average is $346.97. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91.

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

Insider Activity

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction dated 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 directly owns 100,027 shares of the company's stock, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP M Kathryn Fink sold 2,121 shares of the company's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following 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 disclosure for this sale can be found here. Insiders sold 67,381 shares of company stock valued at $24,825,275 in the last three months. 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.