First Commonwealth Financial Corp PA Purchases 46 Shares of Stryker Co. (NYSE:SYK)

First Commonwealth Financial Corp PA lifted its position in Stryker Co. (NYSE:SYK) by 2.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,370 shares of the medical technology company’s stock after purchasing an additional 46 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in Stryker were worth $856,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of SYK. Centennial Bank AR lifted its stake in Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the last quarter. Darwin Wealth Management LLC purchased a new stake in Stryker during the 3rd quarter valued at $36,000. HBW Advisory Services LLC purchased a new position in shares of Stryker in the third quarter valued at about $42,000. Hara Capital LLC bought a new position in shares of Stryker during the third quarter valued at about $42,000. Finally, Grove Bank & Trust boosted 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. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of recent analyst reports. Evercore ISI upped their target price on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Citigroup increased their price target on shares of Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Needham & Company LLC lifted their price objective on Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a research report on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $393.65.

Stryker Stock Performance

Shares of Stryker stock traded up $0.12 on Wednesday, hitting $389.83. 29,522 shares of the company’s stock were exchanged, compared to its average volume of 1,266,136. The company has a 50-day simple moving average of $366.97 and a 200-day simple moving average of $350.42. The stock has a market capitalization of $148.61 billion, a PE ratio of 41.77, a PEG ratio of 2.90 and a beta of 0.91. Stryker Co. has a 1 year low of $285.79 and a 1 year high of $398.20. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. The firm 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 business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.46 earnings per share. As a group, equities analysts anticipate that Stryker Co. will post 12.06 EPS for the current year.

Insider Buying and Selling at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction dated 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 $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. This represents a 17.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,781 shares of company stock worth $24,612,275 in the last quarter. 5.50% of the stock is owned by corporate insiders.

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.