KBC Group NV Boosts Stake in Stryker Corp. (SYK)
KBC Group NV raised its position in Stryker Corp. (NYSE:SYK) by 110.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,683 shares of the medical technology company’s stock after buying an additional 40,737 shares during the period. KBC Group NV’s holdings in Stryker Corp. were worth $9,043,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the company. First Republic Investment Management Inc. increased its stake in Stryker Corp. by 35.2% in the first quarter. First Republic Investment Management Inc. now owns 46,302 shares of the medical technology company’s stock worth $4,968,000 after buying an additional 12,067 shares during the period. First Financial Bank N.A. Trust Division increased its stake in Stryker Corp. by 2.5% in the second quarter. First Financial Bank N.A. Trust Division now owns 41,904 shares of the medical technology company’s stock worth $5,021,000 after buying an additional 1,031 shares during the period. Baxter Bros Inc. purchased a new stake in Stryker Corp. during the second quarter worth $705,000. Capital Investment Services of America Inc. increased its stake in Stryker Corp. by 1.0% in the second quarter. Capital Investment Services of America Inc. now owns 98,875 shares of the medical technology company’s stock worth $11,848,000 after buying an additional 1,020 shares during the period. Finally, Raymond James Trust N.A. increased its stake in Stryker Corp. by 5.4% in the second quarter. Raymond James Trust N.A. now owns 17,919 shares of the medical technology company’s stock worth $2,147,000 after buying an additional 919 shares during the period. Hedge funds and other institutional investors own 74.90% of the company’s stock.
Shares of Stryker Corp. (NYSE:SYK) traded up 2.53% during trading on Tuesday, reaching $115.81. The company’s stock had a trading volume of 1,123,016 shares. The company has a market cap of $43.37 billion, a PE ratio of 26.36 and a beta of 0.86. The firm’s 50-day moving average is $113.51 and its 200 day moving average is $115.06. Stryker Corp. has a 52-week low of $86.68 and a 52-week high of $123.55.
Stryker Corp. (NYSE:SYK) last announced its earnings results on Thursday, October 27th. The medical technology company reported $1.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.02. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.81 billion. Stryker Corp. had a return on equity of 23.61% and a net margin of 15.24%. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 earnings per share. On average, equities research analysts predict that Stryker Corp. will post $5.78 EPS for the current fiscal year.
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SYK has been the subject of a number of recent research reports. Zacks Investment Research downgraded Stryker Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, September 27th. Needham & Company LLC reissued a “hold” rating on shares of Stryker Corp. in a research note on Sunday, November 13th. Canaccord Genuity set a $127.00 price objective on Stryker Corp. and gave the company a “buy” rating in a research note on Sunday, October 30th. Oppenheimer Holdings Inc. set a $122.00 price objective on Stryker Corp. and gave the company a “hold” rating in a research note on Sunday, October 30th. Finally, BMO Capital Markets raised Stryker Corp. from an “underperform” rating to a “market perform” rating and set a $125.00 price objective on the stock in a research note on Tuesday, November 1st. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company. Stryker Corp. has a consensus rating of “Buy” and an average target price of $122.38.
In other news, Chairman Kevin Lobo sold 26,306 shares of the stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $115.74, for a total transaction of $3,044,656.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ronda E. Stryker sold 18,000 shares of the stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $109.53, for a total value of $1,971,540.00. Following the transaction, the director now owns 193,142 shares in the company, valued at approximately $21,154,843.26. The disclosure for this sale can be found here. Insiders own 7.80% of the company’s stock.
Stryker Corp. Company Profile
Stryker Corporation (Stryker) is a medical technology company. The Company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Company’s Orthopaedics segment products consist of implants used in hip and knee joint replacements and trauma and surgeries. The Company’s MedSurg segment products consist of surgical equipment and surgical navigation systems (Instruments); endoscopic and communications systems (Endoscopy); patient handling and emergency medical equipment (Medical), and reprocessed and remanufactured medical devices (Sustainability), as well as other medical device products used in a range of medical specialties.
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