Nisa Investment Advisors LLC Boosts Position in Stryker Corp. (SYK)
Nisa Investment Advisors LLC increased its stake in shares of Stryker Corp. (NYSE:SYK) by 3.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 109,011 shares of the medical technology company’s stock after buying an additional 4,000 shares during the period. Nisa Investment Advisors LLC’s holdings in Stryker Corp. were worth $12,690,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in SYK. Capstone Asset Management Co. boosted its stake in Stryker Corp. by 3.4% in the third quarter. Capstone Asset Management Co. now owns 44,209 shares of the medical technology company’s stock valued at $5,146,000 after buying an additional 1,435 shares during the period. Atria Investments LLC boosted its stake in Stryker Corp. by 24.4% in the third quarter. Atria Investments LLC now owns 6,395 shares of the medical technology company’s stock valued at $744,000 after buying an additional 1,253 shares during the period. Creative Planning boosted its stake in Stryker Corp. by 11.5% in the third quarter. Creative Planning now owns 16,444 shares of the medical technology company’s stock valued at $1,914,000 after buying an additional 1,692 shares during the period. Bristlecone Advisors LLC bought a new stake in Stryker Corp. during the third quarter valued at about $475,000. Finally, Daiwa SB Investments Ltd. bought a new stake in Stryker Corp. during the third quarter valued at about $163,000. 74.90% of the stock is owned by institutional investors.
Stryker Corp. (NYSE:SYK) traded up 2.47% during mid-day trading on Tuesday, hitting $115.74. 1,003,802 shares of the stock were exchanged. The firm has a market cap of $43.34 billion, a price-to-earnings ratio of 26.34 and a beta of 0.86. The company has a 50 day moving average price of $113.51 and a 200 day moving average price of $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 issued its quarterly earnings results on Thursday, October 27th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.02. Stryker Corp. had a net margin of 15.24% and a return on equity of 23.61%. The company earned $2.83 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter in the previous year, the firm earned $1.25 earnings per share. The firm’s quarterly revenue was up 17.1% on a year-over-year basis. On average, analysts anticipate that Stryker Corp. will post $5.78 EPS for the current year.
Several research firms have issued reports on SYK. Zacks Investment Research cut shares of Stryker Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, November 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Stryker Corp. in a research report on Sunday, November 13th. BMO Capital Markets raised shares of Stryker Corp. from an “underperform” rating to a “market perform” rating and set a $125.00 price target for the company in a research report on Tuesday, November 1st. They noted that the move was a valuation call. Canaccord Genuity set a $127.00 price target on shares of Stryker Corp. and gave the stock a “buy” rating in a research report on Sunday, October 30th. Finally, Oppenheimer Holdings Inc. set a $122.00 price target on shares of Stryker Corp. and gave the stock a “hold” rating in a research report on Sunday, October 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the stock. Stryker Corp. currently has a consensus rating of “Buy” and an average target price of $122.38.
In related news, Director Ronda E. Stryker sold 6,000 shares of Stryker Corp. stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $112.01, for a total value of $672,060.00. Following the completion of the transaction, the director now owns 193,142 shares in the company, valued at $21,633,835.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 12,000 shares of Stryker Corp. stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $115.16, for a total transaction of $1,381,920.00. Following the completion of the transaction, the director now owns 193,142 shares of the company’s stock, valued at approximately $22,242,232.72. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by corporate insiders.
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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