Montag A & Associates Inc. lifted its holdings in shares of Stryker Co. (NYSE:SYK) by 95.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,630 shares of the medical technology company’s stock after buying an additional 15,893 shares during the quarter. Montag A & Associates Inc.’s holdings in Stryker were worth $7,058,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in SYK. Founders Capital Management LLC lifted its stake in Stryker by 3.9% in the 2nd quarter. Founders Capital Management LLC now owns 10,887 shares of the medical technology company’s stock worth $2,238,000 after purchasing an additional 411 shares in the last quarter. First Allied Advisory Services Inc. lifted its stake in Stryker by 4.6% in the 2nd quarter. First Allied Advisory Services Inc. now owns 17,939 shares of the medical technology company’s stock worth $3,688,000 after purchasing an additional 791 shares in the last quarter. Commerce Bank lifted its stake in Stryker by 2.4% in the 2nd quarter. Commerce Bank now owns 39,890 shares of the medical technology company’s stock worth $8,201,000 after purchasing an additional 921 shares in the last quarter. AGF Investments LLC purchased a new stake in Stryker in the 2nd quarter worth approximately $1,366,000. Finally, Clarus Wealth Advisors lifted its stake in Stryker by 19.3% in the 2nd quarter. Clarus Wealth Advisors now owns 2,111 shares of the medical technology company’s stock worth $434,000 after purchasing an additional 342 shares in the last quarter. Institutional investors own 73.13% of the company’s stock.
Shares of NYSE:SYK traded down $1.00 during trading on Friday, reaching $199.78. The company had a trading volume of 1,420,532 shares, compared to its average volume of 1,230,180. The company has a fifty day moving average of $213.55 and a two-hundred day moving average of $205.53. The stock has a market capitalization of $74.21 billion, a P/E ratio of 27.33, a price-to-earnings-growth ratio of 2.43 and a beta of 0.80. Stryker Co. has a 12 month low of $144.75 and a 12 month high of $223.45. The company has a current ratio of 2.18, a quick ratio of 1.35 and a debt-to-equity ratio of 0.64.
Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $1.91 EPS for the quarter, topping the Zacks’ consensus estimate of $1.90 by $0.01. Stryker had a net margin of 23.55% and a return on equity of 25.33%. The firm had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same quarter in the prior year, the firm earned $1.69 EPS. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, equities research analysts predict that Stryker Co. will post 8.23 earnings per share for the current year.
In related news, VP M Kathryn Fink sold 28,690 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $220.97, for a total transaction of $6,339,629.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Srikant M. Datar sold 350 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $215.00, for a total transaction of $75,250.00. Following the transaction, the director now directly owns 6,844 shares in the company, valued at approximately $1,471,460. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,524 shares of company stock worth $14,731,927. 7.20% of the stock is owned by insiders.
Several research firms have issued reports on SYK. UBS Group increased their target price on shares of Stryker from $220.00 to $225.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald increased their target price on shares of Stryker from $190.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Barclays lowered shares of Stryker from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $226.00 to $207.00 in a report on Tuesday. Piper Jaffray Companies reissued a “buy” rating on shares of Stryker in a report on Wednesday, September 4th. Finally, Credit Suisse Group increased their price target on shares of Stryker from $232.00 to $237.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Stryker currently has a consensus rating of “Buy” and a consensus price target of $219.08.
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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