Bridges Investment Management Inc. Boosts Stock Holdings in Stryker Co. (NYSE:SYK)

Bridges Investment Management Inc. grew its position in Stryker Co. (NYSE:SYK) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 67,345 shares of the medical technology company’s stock after acquiring an additional 717 shares during the quarter. Bridges Investment Management Inc.’s holdings in Stryker were worth $24,329,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Norden Group LLC acquired a new stake in Stryker during the 1st quarter worth $280,000. Central Pacific Bank Trust Division purchased a new stake in Stryker during the 1st quarter valued at about $39,000. Envestnet Portfolio Solutions Inc. raised its holdings in Stryker by 43.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock valued at $6,617,000 after acquiring an additional 5,565 shares during the last quarter. Empowered Funds LLC lifted its stake in Stryker by 74.4% in the 1st quarter. Empowered Funds LLC now owns 6,938 shares of the medical technology company’s stock worth $2,483,000 after purchasing an additional 2,960 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of Stryker by 14.5% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 855 shares of the medical technology company’s stock worth $306,000 after purchasing an additional 108 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SYK has been the topic of several analyst reports. StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a report on Wednesday. Citigroup increased their price target on Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Morgan Stanley boosted their price objective on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Royal Bank of Canada increased their target price on shares of Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Canaccord Genuity Group boosted their price target on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Stock Up 1.7 %

Shares of NYSE SYK opened at $375.96 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The business has a 50-day moving average of $361.46 and a two-hundred day moving average of $345.63. The company has a market capitalization of $143.32 billion, a price-to-earnings ratio of 40.30, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. Stryker Co. has a 1 year low of $266.93 and a 1 year high of $377.83.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period last year, the firm posted $2.46 EPS. Stryker’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, analysts forecast that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,381 shares of company stock worth $24,825,275. 5.90% of the stock is owned by insiders.

About Stryker

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.