Stryker Corporation $SYK Shares Bought by M&G PLC

M&G PLC boosted its position in shares of Stryker Corporation (NYSE:SYK) by 17.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,709 shares of the medical technology company’s stock after acquiring an additional 5,805 shares during the period. M&G PLC’s holdings in Stryker were worth $10,645,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in SYK. Gables Capital Management Inc. bought a new stake in shares of Stryker during the 2nd quarter valued at $25,000. Kilter Group LLC purchased a new position in shares of Stryker during the 2nd quarter valued at $25,000. Cornerstone Financial Management LLC boosted its holdings in Stryker by 66.0% in the 2nd quarter. Cornerstone Financial Management LLC now owns 78 shares of the medical technology company’s stock worth $25,000 after buying an additional 31 shares during the period. Highland Investment Advisors LLC bought a new position in Stryker in the 2nd quarter worth $25,000. Finally, Compass Financial Management LLC bought a new position in Stryker in the 2nd quarter worth $27,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of NYSE:SYK opened at $324.00 on Wednesday. The company has a market capitalization of $123.34 billion, a price-to-earnings ratio of 34.50, a PEG ratio of 2.24 and a beta of 0.78. Stryker Corporation has a 12 month low of $267.00 and a 12 month high of $389.33. The firm’s 50-day moving average is $292.25 and its 200 day moving average is $323.23. The company has a current ratio of 2.18, a quick ratio of 1.30 and a debt-to-equity ratio of 0.60.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, October 29th. The medical technology company reported $3.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.55 by ($0.03). The firm had revenue of $6.52 billion during the quarter, compared to the consensus estimate of $6.62 billion. Stryker had a return on equity of 23.74% and a net margin of 13.78%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the business earned $3.19 EPS. Research analysts predict that Stryker Corporation will post 14.84 EPS for the current year.

Insider Transactions at Stryker

In other news, Director Ronda Stryker sold 550,000 shares of the business’s stock in a transaction on Friday, November 6th. The shares were sold at an average price of $325.32, for a total transaction of $178,926,000.00. Following the completion of the sale, the director directly owned 1,701,375 shares of the company’s stock, valued at approximately $553,491,315. The trade was a 24.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Debra King sold 826 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $336.30, for a total transaction of $277,783.80. Following the completion of the transaction, the insider owned 6,210 shares in the company, valued at approximately $2,088,423. The trade was a 11.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 901,267 shares of company stock worth $297,123,701. 4.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SYK has been the subject of a number of analyst reports. The Goldman Sachs Group cut their price target on Stryker from $363.00 to $339.00 and set a “neutral” rating for the company in a research note on Tuesday, July 14th. Raymond James Financial restated an “outperform” rating and issued a $323.00 price objective (down from $370.00) on shares of Stryker in a research report on Friday, October 30th. Royal Bank Of Canada dropped their price objective on Stryker from $420.00 to $375.00 and set an “outperform” rating for the company in a research note on Friday, October 30th. Canaccord Genuity Group lowered Stryker from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $385.00 to $300.00 in a research note on Friday, October 30th. Finally, Robert W. Baird cut their target price on Stryker from $385.00 to $334.00 in a research report on Friday, October 30th. Twenty-one investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $342.19.

Stryker Company Profile

Stryker is a medical technology company that develops and sells products and services for healthcare providers. Its offerings include orthopedic implants and surgical equipment, neurotechnology and spine products, and medical and surgical equipment used in hospitals and other care settings. The company’s products also include patient-handling and emergency medical equipment, as well as instruments and technologies that support surgical procedures. Stryker serves healthcare customers in the United States and internationally.