Reynders McVeigh Capital Management LLC Buys 868 Shares of Stryker Co. (NYSE:SYK)

Reynders McVeigh Capital Management LLC boosted its stake in shares of Stryker Co. (NYSE:SYK) by 0.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 109,920 shares of the medical technology company’s stock after purchasing an additional 868 shares during the period. Stryker accounts for about 2.1% of Reynders McVeigh Capital Management LLC’s holdings, making the stock its 14th largest position. Reynders McVeigh Capital Management LLC’s holdings in Stryker were worth $39,710,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Avestar Capital LLC grew its stake in shares of Stryker by 1.1% during the third quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock valued at $1,065,000 after buying an additional 31 shares during the last quarter. Patrick M Sweeney & Associates Inc. lifted its holdings in Stryker by 1.5% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock worth $793,000 after buying an additional 32 shares during the period. Stanley Laman Group Ltd. lifted its holdings in Stryker by 4.6% during the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after buying an additional 33 shares during the period. Plimoth Trust Co. LLC lifted its holdings in Stryker by 0.3% during the second quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock worth $3,224,000 after buying an additional 33 shares during the period. Finally, Grimes & Company Inc. lifted its holdings in Stryker by 0.4% during the third quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock worth $2,977,000 after buying an additional 33 shares during the period. 77.09% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the transaction, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. This trade represents a 17.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Kevin Lobo sold 57,313 shares of the firm’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 owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,781 shares of company stock worth $24,612,275. Insiders own 5.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on SYK. Robert W. Baird upped their target price on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Evercore ISI upped their price target on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Wolfe Research assumed coverage on Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price target on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price target (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Finally, Barclays upped their price target on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $398.40.

Stryker Price Performance

NYSE:SYK opened at $390.97 on Wednesday. Stryker Co. has a 52 week low of $285.79 and a 52 week high of $398.20. 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 stock has a market capitalization of $149.04 billion, a PE ratio of 41.90, a price-to-earnings-growth ratio of 2.94 and a beta of 0.94. The stock’s 50-day moving average price is $369.58 and its 200-day moving average price is $352.53.

Stryker (NYSE:SYK) last posted its quarterly earnings data 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 return on equity of 23.07% and a net margin of 16.34%. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the previous year, the firm posted $2.46 EPS. Stryker’s revenue was up 11.9% compared to the same quarter last year. As a group, equities analysts expect that Stryker Co. will post 12.06 EPS 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.