NS Partners Ltd Purchases 1,488 Shares of Stryker Co. (NYSE:SYK)

NS Partners Ltd raised its position in Stryker Co. (NYSE:SYK) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 113,066 shares of the medical technology company’s stock after purchasing an additional 1,488 shares during the period. Stryker makes up about 1.7% of NS Partners Ltd’s investment portfolio, making the stock its 16th biggest holding. NS Partners Ltd’s holdings in Stryker were worth $40,846,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Patrick M Sweeney & Associates Inc. boosted its holdings in shares of Stryker by 1.5% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock valued at $793,000 after buying an additional 32 shares during the period. Versant Capital Management Inc lifted its stake in Stryker by 4.0% in the second quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock valued at $294,000 after acquiring an additional 33 shares during the last quarter. Stanley Laman Group Ltd. lifted its stake in Stryker by 4.6% in the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock valued at $256,000 after acquiring an additional 33 shares during the last quarter. Plimoth Trust Co. LLC lifted its stake in Stryker by 0.3% in the second quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock valued at $3,224,000 after acquiring an additional 33 shares during the last quarter. Finally, Grimes & Company Inc. raised its position in shares of Stryker by 0.4% in the third quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock valued at $2,977,000 after purchasing an additional 33 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Performance

NYSE:SYK opened at $388.66 on Wednesday. The firm has a market capitalization of $148.16 billion, a P/E ratio of 41.66, a P/E/G ratio of 2.94 and a beta of 0.91. The company has a fifty day moving average of $365.08 and a 200-day moving average of $348.40. 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 Co. has a twelve month low of $285.79 and a twelve month high of $398.20.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Needham & Company LLC increased their price objective on shares of Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Robert W. Baird raised their price target on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada raised their price target on shares of Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and set a $420.00 target price (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Finally, UBS Group lifted their target price 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. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $393.65.

Insiders Place Their Bets

In related news, CEO Kevin Lobo sold 57,313 shares of the business’s 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP M Kathryn Fink sold 7,347 shares of the business’s stock in a transaction dated 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 transaction, the vice president now directly owns 10,042 shares in the company, valued at $3,685,213.16. This trade represents a 42.25 % 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 three months. 5.50% of the stock is currently owned by insiders.

Stryker Company Profile

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.