National Wealth Management Group LLC Acquires New Position in Stryker Co. (NYSE:SYK)

National Wealth Management Group LLC acquired a new stake in Stryker Co. (NYSE:SYK) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,282 shares of the medical technology company’s stock, valued at approximately $824,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kennedy Capital Management LLC acquired a new position in Stryker in the first quarter valued at approximately $957,000. Tidal Investments LLC boosted its stake in Stryker by 14.2% in the first quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company’s stock valued at $4,853,000 after acquiring an additional 1,681 shares during the period. Citizens Financial Group Inc. RI boosted its stake in Stryker by 17.2% in the first quarter. Citizens Financial Group Inc. RI now owns 2,540 shares of the medical technology company’s stock valued at $909,000 after acquiring an additional 372 shares during the period. Swedbank AB acquired a new position in Stryker in the first quarter valued at approximately $16,239,000. Finally, Atria Investments Inc boosted its position in shares of Stryker by 12.2% during the first quarter. Atria Investments Inc now owns 20,395 shares of the medical technology company’s stock worth $7,299,000 after buying an additional 2,212 shares during the period. 77.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SYK shares. Barclays boosted their price objective on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. boosted their price objective on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Evercore ISI boosted their price objective on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Needham & Company LLC boosted their price objective on Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Wolfe Research began coverage on Stryker in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price for the company. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $393.65.

Insider Buying and Selling

In related news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction on 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 sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,715,540. This represents a 17.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,781 shares of company stock worth $24,612,275. Corporate insiders own 5.90% of the company’s stock.

Stryker Trading Down 0.4 %

NYSE SYK opened at $388.14 on Thursday. Stryker Co. has a 1-year low of $285.79 and a 1-year high of $398.20. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $147.97 billion, a PE ratio of 41.60, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. The firm’s fifty day simple moving average is $367.50 and its 200-day simple moving average is $350.68.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share 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 business had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the prior year, the business posted $2.46 earnings per share. Stryker’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current fiscal 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.