The Manufacturers Life Insurance Company Purchases 47,322 Shares of Stryker Co. (NYSE:SYK)

The Manufacturers Life Insurance Company grew its stake in shares of Stryker Co. (NYSE:SYK - Free Report) by 3.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,257,091 shares of the medical technology company's stock after acquiring an additional 47,322 shares during the period. The Manufacturers Life Insurance Company owned about 0.33% of Stryker worth $454,136,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its position in shares of Stryker by 78.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company's stock valued at $45,260,000 after acquiring an additional 58,673 shares during the period. OFI Invest Asset Management grew its position in shares of Stryker by 3,210.9% during the 2nd quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company's stock valued at $1,062,000 after acquiring an additional 3,243 shares during the period. Tidal Investments LLC grew its position in shares of Stryker by 14.2% during the 1st quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company's stock valued at $4,853,000 after acquiring an additional 1,681 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Stryker by 2.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company's stock valued at $210,289,000 after acquiring an additional 16,504 shares during the period. Finally, Sivik Global Healthcare LLC grew its position in shares of Stryker by 8.0% during the 3rd quarter. Sivik Global Healthcare LLC now owns 27,000 shares of the medical technology company's stock valued at $9,754,000 after acquiring an additional 2,000 shares during the period. 77.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on SYK. Wells Fargo & Company raised their price objective on shares of Stryker from $381.00 to $405.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. UBS Group raised their price objective on shares of Stryker from $366.00 to $370.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Evercore ISI raised their price objective on shares of Stryker from $380.00 to $384.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Needham & Company LLC raised their price objective on shares of Stryker from $393.00 to $409.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Finally, Robert W. Baird raised their price objective on shares of Stryker from $378.00 to $405.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $393.65.

Insider Buying and Selling

In other Stryker news, 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 sale, the chief executive officer now owns 100,027 shares of the company's stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of the firm's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,685,213.16. This trade represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,781 shares of company stock worth $24,612,275 in the last 90 days. 5.90% of the stock is owned by company insiders.

Stryker Price Performance

Shares of Stryker stock traded up $4.80 on Tuesday, hitting $389.71. 1,014,594 shares of the company traded hands, compared to its average volume of 1,271,633. The company has a market cap of $148.56 billion, a P/E ratio of 41.77, a P/E/G ratio of 2.90 and a beta of 0.91. The firm's 50-day simple moving average is $366.97 and its 200 day simple moving average is $350.42. Stryker Co. has a 12-month low of $285.79 and a 12-month high of $398.20. 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 issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping analysts' consensus estimates of $2.77 by $0.10. The company had revenue of $5.49 billion for the quarter, compared to analysts' expectations of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm's revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.46 EPS. Analysts expect that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

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.