State Street Corp Has $5.28 Billion Holdings in Stryker Co. (NYSE:SYK)

State Street Corp grew its stake in shares of Stryker Co. (NYSE:SYK) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,582,959 shares of the medical technology company’s stock after acquiring an additional 316,404 shares during the period. State Street Corp owned 3.83% of Stryker worth $5,279,788,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SYK. CWM LLC increased its stake in Stryker by 0.6% in the second quarter. CWM LLC now owns 14,565 shares of the medical technology company’s stock valued at $4,956,000 after acquiring an additional 89 shares during the last quarter. BDF Gestion bought a new position in Stryker in the second quarter valued at approximately $4,274,000. Orrstown Financial Services Inc. bought a new position in Stryker in the second quarter valued at approximately $209,000. Capital Investment Advisors LLC grew its stake in shares of Stryker by 9.4% during the second quarter. Capital Investment Advisors LLC now owns 916 shares of the medical technology company’s stock worth $312,000 after buying an additional 79 shares during the last quarter. Finally, Berkshire Bank grew its stake in shares of Stryker by 1.4% during the second quarter. Berkshire Bank now owns 8,156 shares of the medical technology company’s stock worth $2,775,000 after buying an additional 111 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on SYK. Piper Sandler reiterated an “overweight” rating and set a $420.00 price target (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $370.00 to $445.00 in a report on Monday. UBS Group boosted their target price on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Robert W. Baird boosted their target price on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company boosted their target price on shares of Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $398.40.

Stryker Price Performance

Shares of NYSE:SYK opened at $389.76 on Thursday. 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 Co. has a one year low of $285.79 and a one year high of $398.20. The company’s fifty day moving average price is $370.18 and its 200-day moving average price is $352.79. The firm has a market capitalization of $148.58 billion, a price-to-earnings ratio of 41.77, a PEG ratio of 2.95 and a beta of 0.94.

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

Insiders Place Their Bets

In other news, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the sale, the vice president now directly owns 10,042 shares in the company, valued at $3,685,213.16. The trade was a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were 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 trade represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,781 shares of company stock valued at $24,612,275 in the last quarter. Insiders own 5.90% of the company’s stock.

Stryker 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.