Ironwood Investment Counsel LLC Acquires 49 Shares of Stryker Co. (NYSE:SYK)

Ironwood Investment Counsel LLC increased its holdings in shares of Stryker Co. (NYSE:SYK) by 1.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,293 shares of the medical technology company’s stock after purchasing an additional 49 shares during the period. Ironwood Investment Counsel LLC’s holdings in Stryker were worth $1,190,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SYK. Parnassus Investments LLC bought a new position in Stryker in the third quarter valued at approximately $762,798,000. International Assets Investment Management LLC lifted its position in Stryker by 66,967.5% in the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after acquiring an additional 852,496 shares in the last quarter. American Century Companies Inc. boosted its stake in Stryker by 287.6% in the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock worth $172,033,000 after purchasing an additional 375,166 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Stryker by 49.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 686,416 shares of the medical technology company’s stock valued at $233,553,000 after purchasing an additional 228,139 shares during the period. Finally, FMR LLC raised its stake in shares of Stryker by 3.0% in the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after purchasing an additional 215,782 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Price Performance

NYSE:SYK opened at $392.15 on Friday. The company has a market cap of $149.50 billion, a P/E ratio of 42.03, a P/E/G ratio of 2.93 and a beta of 0.91. The firm’s fifty day moving average price is $368.51 and its two-hundred day moving average price is $351.41. Stryker Co. has a one year low of $285.79 and a one year high of $398.20. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating 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 firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the prior year, the firm earned $2.46 EPS. The business’s revenue was up 11.9% on a year-over-year basis. Equities analysts expect that Stryker Co. will post 12.06 earnings per share for the current year.

Insider Activity at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction 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 transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. This trade 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 ninety days. 5.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of research reports. Needham & Company LLC increased their price objective on Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Robert W. Baird lifted their price objective on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. BTIG Research boosted their price objective on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada raised their target price on shares of Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Barclays boosted their price target on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock 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.