Harbour Investments Inc. Increases Holdings in Stryker Co. (NYSE:SYK)

Harbour Investments Inc. grew its holdings in Stryker Co. (NYSE:SYK) by 4.2% during the third quarter, HoldingsChannel reports. The fund owned 6,330 shares of the medical technology company’s stock after purchasing an additional 256 shares during the period. Harbour Investments Inc.’s holdings in Stryker were worth $2,287,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Patrick M Sweeney & Associates Inc. increased its holdings in shares of Stryker by 1.5% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock worth $793,000 after buying an additional 32 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Stryker by 4.0% in the 2nd quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock worth $294,000 after purchasing an additional 33 shares during the period. Stanley Laman Group Ltd. lifted its stake in shares of Stryker by 4.6% in the 2nd quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock valued at $256,000 after purchasing an additional 33 shares in the last quarter. Plimoth Trust Co. LLC grew its holdings in shares of Stryker by 0.3% during the 2nd quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock worth $3,224,000 after purchasing an additional 33 shares during the period. Finally, Grimes & Company Inc. raised its holdings in Stryker by 0.4% in the third quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock valued at $2,977,000 after buying an additional 33 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Up 0.3 %

Stryker stock opened at $388.34 on Thursday. Stryker Co. has a one year low of $282.35 and a one year high of $390.59. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The firm has a market capitalization of $148.04 billion, a P/E ratio of 41.62, a P/E/G ratio of 2.92 and a beta of 0.91. The company has a 50-day simple moving average of $362.38 and a 200-day simple moving average of $346.42.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. The company had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.46 EPS. As a group, equities analysts expect that Stryker Co. will post 12.06 earnings per share for the current year.

Insider Activity

In related news, VP M Kathryn Fink sold 7,347 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,685,213.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,685,213.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,381 shares of company stock worth $24,825,275 over the last three months. Corporate insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SYK shares. JPMorgan Chase & Co. increased their price objective on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Wolfe Research assumed coverage on Stryker in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price objective on the stock. Canaccord Genuity Group upped their target price on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Truist Financial raised their target price on Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, Citigroup upped 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. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

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.