Arrow Financial Corp Buys 55 Shares of Stryker Co. (NYSE:SYK)

Arrow Financial Corp raised its stake in Stryker Co. (NYSE:SYK) by 0.4% in the third quarter, Holdings Channel reports. The firm owned 13,521 shares of the medical technology company’s stock after acquiring an additional 55 shares during the quarter. Arrow Financial Corp’s holdings in Stryker were worth $4,885,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Norden Group LLC acquired a new position in Stryker during the first quarter worth $280,000. Empowered Funds LLC lifted its stake in Stryker by 74.4% in the 1st quarter. Empowered Funds LLC now owns 6,938 shares of the medical technology company’s stock valued at $2,483,000 after purchasing an additional 2,960 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in Stryker by 14.5% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 855 shares of the medical technology company’s stock worth $306,000 after purchasing an additional 108 shares during the period. Atomi Financial Group Inc. increased its position in Stryker by 14.9% during the first quarter. Atomi Financial Group Inc. now owns 1,607 shares of the medical technology company’s stock worth $575,000 after buying an additional 208 shares during the last quarter. Finally, Concurrent Investment Advisors LLC raised its stake in Stryker by 2.2% in the first quarter. Concurrent Investment Advisors LLC now owns 7,698 shares of the medical technology company’s stock valued at $2,755,000 after buying an additional 164 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Buying and Selling

In related news, CEO Kevin Lobo sold 57,313 shares of the business’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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Stryker news, insider Viju Menon sold 600 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was 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 owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,381 shares of company stock worth $24,825,275 in the last ninety days. Company insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wolfe Research began coverage on shares of Stryker in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price objective on the stock. Piper Sandler reissued an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. BTIG Research boosted their price objective on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. UBS Group increased their target price on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley boosted their price target on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $393.65.

Stryker Stock Up 1.7 %

Shares of SYK opened at $375.96 on Friday. 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 stock has a market capitalization of $143.32 billion, a price-to-earnings ratio of 40.30, a PEG ratio of 2.83 and a beta of 0.91. The stock has a fifty day moving average of $361.46 and a 200-day moving average of $345.63.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 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 during the quarter, compared to the consensus estimate of $5.37 billion. During the same period last year, the company earned $2.46 earnings per share. The business’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, sell-side analysts anticipate 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.