Avestar Capital LLC Buys 31 Shares of Stryker Co. (NYSE:SYK)

Avestar Capital LLC lifted its stake in Stryker Co. (NYSE:SYK) by 1.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,948 shares of the medical technology company’s stock after acquiring an additional 31 shares during the period. Avestar Capital LLC’s holdings in Stryker were worth $1,065,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of Stryker by 3.0% in the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after purchasing an additional 215,782 shares during the period. Clearbridge Investments LLC raised its holdings in Stryker by 2.9% in the 2nd quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock worth $790,554,000 after acquiring an additional 66,482 shares during the period. Parnassus Investments LLC acquired a new position in Stryker during the 3rd quarter worth $762,798,000. Charles Schwab Investment Management Inc. boosted its holdings in Stryker by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,936,226 shares of the medical technology company’s stock valued at $699,481,000 after acquiring an additional 37,000 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Stryker by 3.9% in the third quarter. The Manufacturers Life Insurance Company now owns 1,257,091 shares of the medical technology company’s stock valued at $454,136,000 after purchasing an additional 47,322 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SYK has been the subject of several research analyst reports. Truist Financial boosted their price objective on Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Wells Fargo & Company boosted their target price on shares of Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Citigroup raised their price target on shares of Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Piper Sandler restated an “overweight” rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Finally, Needham & Company LLC increased their target price on shares of Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $393.65.

Insider Activity

In related news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This represents a 42.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kevin Lobo sold 57,313 shares of the 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 owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,781 shares of company stock valued at $24,612,275. 5.50% of the stock is currently owned by insiders.

Stryker Trading Up 1.2 %

Shares of SYK stock opened at $389.71 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $148.57 billion, a P/E ratio of 41.77, a P/E/G ratio of 2.90 and a beta of 0.91. Stryker Co. has a 12-month low of $285.79 and a 12-month high of $398.20. The firm has a 50-day moving average price of $366.97 and a 200 day moving average price of $350.42.

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

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.