Marco Investment Management LLC Has $20.06 Million Position in Stryker Co. (NYSE:SYK)

Marco Investment Management LLC increased its position in Stryker Co. (NYSE:SYK) by 2.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 55,513 shares of the medical technology company’s stock after acquiring an additional 1,099 shares during the period. Stryker comprises 1.7% of Marco Investment Management LLC’s investment portfolio, making the stock its 18th biggest position. Marco Investment Management LLC’s holdings in Stryker were worth $20,055,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SYK. LRI Investments LLC acquired a new position in Stryker in the first quarter worth approximately $107,000. Magnetar Financial LLC bought a new stake in Stryker during the first quarter worth approximately $773,000. Bamco Inc. NY boosted its position in Stryker by 28.6% during the first quarter. Bamco Inc. NY now owns 18,000 shares of the medical technology company’s stock worth $6,442,000 after purchasing an additional 4,000 shares during the period. Mount Yale Investment Advisors LLC bought a new stake in Stryker during the first quarter worth approximately $305,000. Finally, Ascent Group LLC boosted its position in Stryker by 1.9% during the first quarter. Ascent Group LLC now owns 3,631 shares of the medical technology company’s stock worth $1,299,000 after purchasing an additional 69 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Buying and Selling

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the 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 transaction, the vice president now directly owns 10,042 shares in the company, valued at $3,685,213.16. This represents a 42.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. This represents a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,381 shares of company stock valued at $24,825,275 over the last ninety days. 5.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on SYK. Royal Bank of Canada upped their target price on Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Evercore ISI upped their target price on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. UBS Group upped their target price on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Barclays upped their target price on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company increased their price objective on Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research 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. According to MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and an average price target of $393.65.

Stryker Stock Down 1.4 %

Shares of SYK stock opened at $384.85 on Friday. The stock has a market cap of $146.71 billion, a P/E ratio of 41.25, a price-to-earnings-growth ratio of 2.90 and a beta of 0.91. Stryker Co. has a one year low of $285.79 and a one year high of $398.20. The stock has a fifty day moving average price of $366.20 and a 200 day moving average price of $349.48. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22.

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

Stryker 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.