Ascent Group LLC Raises Stock Position in Stryker Co. (NYSE:SYK)

Ascent Group LLC grew its holdings in Stryker Co. (NYSE:SYK) by 2.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,867 shares of the medical technology company’s stock after acquiring an additional 77 shares during the period. Ascent Group LLC’s holdings in Stryker were worth $1,397,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its position in Stryker by 78.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock valued at $45,260,000 after acquiring an additional 58,673 shares during the period. OFI Invest Asset Management increased its stake in shares of Stryker by 3,210.9% during the 2nd quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company’s stock worth $1,062,000 after purchasing an additional 3,243 shares in the last quarter. Baltimore Washington Financial Advisors Inc. raised its holdings in shares of Stryker by 2.4% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 66,681 shares of the medical technology company’s stock worth $24,089,000 after acquiring an additional 1,554 shares during the last quarter. Sivik Global Healthcare LLC boosted its stake in shares of Stryker by 8.0% during the 3rd quarter. Sivik Global Healthcare LLC now owns 27,000 shares of the medical technology company’s stock worth $9,754,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Stryker by 2.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company’s stock valued at $210,289,000 after acquiring an additional 16,504 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Up 0.3 %

NYSE SYK opened at $390.97 on Wednesday. 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 $285.79 and a 52 week high of $398.20. The stock has a market capitalization of $149.05 billion, a P/E ratio of 41.90, a price-to-earnings-growth ratio of 2.94 and a beta of 0.94. The stock has a fifty day moving average of $369.58 and a 200-day moving average of $352.53.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. UBS Group lifted their price target on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price target (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. BTIG Research increased their target price on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $370.00 to $445.00 in a research note on Monday. Finally, Wolfe Research initiated coverage on shares of Stryker in a report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $398.40.

Insider Activity at Stryker

In other news, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at $3,715,540. The trade was a 17.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,781 shares of company stock worth $24,612,275 over the last ninety days. Company insiders own 5.50% 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.