Klingman & Associates LLC Grows Stock Position in Stryker Co. (NYSE:SYK)

Klingman & Associates LLC raised its holdings in Stryker Co. (NYSE:SYK) by 321.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,700 shares of the medical technology company’s stock after buying an additional 2,823 shares during the quarter. Klingman & Associates LLC’s holdings in Stryker were worth $1,337,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SYK. Patrick M Sweeney & Associates Inc. increased its stake in shares of Stryker by 1.5% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock worth $793,000 after purchasing an additional 32 shares during the last quarter. Versant Capital Management Inc raised its holdings 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 buying an additional 33 shares in the last quarter. Stanley Laman Group Ltd. lifted its position in shares of Stryker by 4.6% in the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after buying an additional 33 shares during the last quarter. Plimoth Trust Co. LLC boosted its stake in shares of Stryker by 0.3% during the 2nd quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock worth $3,224,000 after acquiring an additional 33 shares in the last quarter. Finally, Grimes & Company Inc. increased its holdings 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 acquiring an additional 33 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Citigroup boosted their price objective on shares of Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Truist Financial lifted their price objective on Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. UBS Group increased their price target on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their price target on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Stock Up 1.7 %

Shares of NYSE:SYK opened at $375.96 on Friday. The firm has a market cap of $143.32 billion, a P/E ratio of 40.30, a PEG ratio of 2.78 and a beta of 0.91. 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 Co. has a 52-week low of $266.93 and a 52-week high of $377.83. The business’s 50 day simple moving average is $361.46 and its two-hundred day simple moving average is $345.63.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. The business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the business posted $2.46 earnings per share. As a group, research analysts forecast that Stryker Co. will post 12.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other Stryker news, insider Viju Menon sold 600 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction 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 owns 10,042 shares of the company’s stock, valued at $3,715,540. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Viju Menon sold 600 shares of Stryker stock in a transaction on 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,381 shares of company stock valued at $24,825,275 in the last ninety days. 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.