Eagle Asset Management Inc. Has $8.97 Million Holdings in Stryker Co. (NYSE:SYK)

Eagle Asset Management Inc. increased its stake in shares of Stryker Co. (NYSE:SYK) by 7.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,856 shares of the medical technology company’s stock after acquiring an additional 1,647 shares during the quarter. Eagle Asset Management Inc.’s holdings in Stryker were worth $8,969,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Centennial Bank AR increased its holdings in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC bought a new position in Stryker during the third quarter valued at about $36,000. HBW Advisory Services LLC acquired a new position in Stryker in the 3rd quarter valued at approximately $42,000. Hara Capital LLC bought a new stake in shares of Stryker in the 3rd quarter worth approximately $42,000. Finally, Grove Bank & Trust grew its holdings in shares of Stryker by 84.8% during the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 56 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Stryker news, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The trade was a 6.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,685,213.16. The trade was a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,381 shares of company stock valued at $24,825,275. 5.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SYK has been the subject of several research reports. Truist Financial raised their target price on Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Wolfe Research started coverage on shares of Stryker in a report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective for the company. Evercore ISI upped their target price on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price objective (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Stock Performance

Stryker stock opened at $384.85 on Friday. Stryker Co. has a 12-month low of $285.79 and a 12-month high of $398.20. The stock has a 50-day simple moving average of $366.20 and a 200 day simple moving average of $349.48. 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 $146.71 billion, a price-to-earnings ratio of 41.25, a P/E/G ratio of 2.90 and a beta of 0.91.

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