Cerity Partners LLC Grows Holdings in Stryker Co. (NYSE:SYK)

Cerity Partners LLC lifted its stake in shares of Stryker Co. (NYSE:SYK) by 9.0% in the third quarter, Holdings Channel reports. The institutional investor owned 235,383 shares of the medical technology company’s stock after buying an additional 19,501 shares during the quarter. Cerity Partners LLC’s holdings in Stryker were worth $85,042,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Centennial Bank AR grew its position in shares of Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 48 shares in the last quarter. Darwin Wealth Management LLC bought a new position in Stryker during the third quarter worth $36,000. HBW Advisory Services LLC acquired a new position in Stryker in the third quarter worth $42,000. Hara Capital LLC bought a new stake in Stryker during the third quarter valued at $42,000. Finally, Grove Bank & Trust raised its holdings in shares of Stryker by 84.8% during the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 56 shares during the period. Institutional investors own 77.09% of the company’s stock.

Stryker Trading Down 1.3 %

Shares of NYSE SYK opened at $384.88 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker Co. has a 12 month low of $285.79 and a 12 month high of $398.20. The company has a market cap of $146.72 billion, a price-to-earnings ratio of 41.25, a P/E/G ratio of 2.94 and a beta of 0.91. The business has a fifty day simple moving average of $366.20 and a 200-day simple moving average of $349.36.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 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 during the quarter, compared to analysts’ expectations of $5.37 billion. During the same period last year, the company posted $2.46 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. Sell-side analysts predict that Stryker Co. will post 12.06 EPS for the current year.

Insider Buying and Selling at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction dated 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 approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. This trade represents a 17.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,381 shares of company stock valued at $24,825,275 in the last 90 days. 5.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SYK shares. Needham & Company LLC lifted their price target on shares of Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada lifted their target price on Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a research report on Friday. Wells Fargo & Company boosted their price objective on Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, 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 report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and an average price target of $393.65.

Stryker Company Profile

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.