Zacks Investment Management Increases Holdings in Stryker Co. (NYSE:SYK)

Zacks Investment Management raised its stake in shares of Stryker Co. (NYSE:SYK - Free Report) by 13.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,269 shares of the medical technology company's stock after purchasing an additional 8,945 shares during the period. Zacks Investment Management's holdings in Stryker were worth $27,553,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Capital Investment Advisors LLC lifted its position in shares of Stryker by 9.4% in the second quarter. Capital Investment Advisors LLC now owns 916 shares of the medical technology company's stock valued at $312,000 after acquiring an additional 79 shares in the last quarter. Park National Corp OH lifted its holdings in Stryker by 1.9% in the 2nd quarter. Park National Corp OH now owns 52,822 shares of the medical technology company's stock valued at $17,973,000 after purchasing an additional 988 shares in the last quarter. D.B. Root & Company LLC boosted its stake in Stryker by 4.5% during the 2nd quarter. D.B. Root & Company LLC now owns 3,798 shares of the medical technology company's stock worth $1,292,000 after purchasing an additional 164 shares during the last quarter. LVW Advisors LLC grew its holdings in shares of Stryker by 5.7% during the second quarter. LVW Advisors LLC now owns 915 shares of the medical technology company's stock worth $311,000 after buying an additional 49 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in shares of Stryker by 31.1% in the second quarter. Sequoia Financial Advisors LLC now owns 11,049 shares of the medical technology company's stock valued at $3,759,000 after buying an additional 2,619 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Insider Activity at Stryker

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the sale, the vice president now owns 10,042 shares of the company's stock, valued at $3,685,213.16. This trade represents a 42.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kevin Lobo sold 57,313 shares of the business's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares of the company's stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,781 shares of company stock worth $24,612,275. Corporate insiders own 5.90% of the company's stock.

Stryker Trading Up 0.7 %

NYSE SYK traded up $2.57 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 12-month low of $285.79 and a 12-month high of $398.20. The stock has a fifty day moving average price of $371.10 and a two-hundred day moving average price of $353.67. The firm has a market capitalization of $146.78 billion, a price-to-earnings ratio of 41.27, a P/E/G ratio of 2.90 and a beta of 0.94. 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 (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, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the previous year, the business earned $2.46 EPS. The company's quarterly revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Stryker Co. will post 12.06 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Canaccord Genuity Group increased their price objective on shares of Stryker from $360.00 to $400.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Citigroup increased their price target on Stryker from $406.00 to $411.00 and gave the company a "buy" rating in a report on Thursday, October 31st. UBS Group boosted their price objective on Stryker from $366.00 to $370.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Robert W. Baird raised their target price on Stryker from $378.00 to $405.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their price target on Stryker from $375.00 to $420.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $398.40.

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.