Foster & Motley Inc. acquired a new position in shares of Stryker Co. (NYSE:SYK – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 692 shares of the medical technology company’s stock, valued at approximately $211,000.
A number of other hedge funds also recently made changes to their positions in SYK. Freedom Wealth Alliance LLC bought a new stake in shares of Stryker during the 4th quarter worth $26,000. Quarry LP bought a new stake in Stryker in the 1st quarter valued at about $27,000. Bay Harbor Wealth Management LLC bought a new stake in Stryker in the 2nd quarter valued at about $31,000. Altshuler Shaham Ltd bought a new stake in Stryker in the 1st quarter valued at about $33,000. Finally, Cascade Investment Advisors Inc. bought a new stake in Stryker in the 1st quarter valued at about $34,000. 76.24% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and issued a $325.00 price objective on shares of Stryker in a research note on Thursday, August 17th. Roth Mkm restated a “buy” rating and issued a $345.00 price objective on shares of Stryker in a research note on Thursday. Barclays boosted their price objective on Stryker from $321.00 to $335.00 and gave the company an “overweight” rating in a research note on Monday, August 7th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Monday, November 6th. Finally, Morgan Stanley upped their price target on Stryker from $295.00 to $300.00 and gave the company an “equal weight” rating in a research report on Monday, August 7th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $311.30.
Read Our Latest Research Report on Stryker
In other news, insider Viju Menon sold 5,000 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $289.00, for a total transaction of $1,445,000.00. Following the completion of the sale, the insider now owns 6,994 shares of the company’s stock, valued at $2,021,266. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 5.90% of the company’s stock.
Stryker Stock Up 1.0 %
Shares of SYK opened at $273.63 on Friday. The firm has a market cap of $103.95 billion, a P/E ratio of 40.60, a P/E/G ratio of 2.58 and a beta of 0.94. The stock has a 50 day simple moving average of $275.27 and a two-hundred day simple moving average of $283.02. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.48 and a quick ratio of 0.83. Stryker Co. has a 1 year low of $216.55 and a 1 year high of $306.93.
Stryker (NYSE:SYK – Get Free Report) last issued its earnings results on Thursday, November 2nd. The medical technology company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.03. The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.87 billion. Stryker had a return on equity of 22.62% and a net margin of 13.00%. Stryker’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.12 earnings per share. On average, analysts forecast that Stryker Co. will post 10.41 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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.
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