ABLE Financial Group LLC Buys 100 Shares of Stryker Co. (NYSE:SYK)

ABLE Financial Group LLC boosted its holdings in Stryker Co. (NYSE:SYK) by 16.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 718 shares of the medical technology company’s stock after purchasing an additional 100 shares during the quarter. ABLE Financial Group LLC’s holdings in Stryker were worth $260,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Koshinski Asset Management Inc. purchased a new position in shares of Stryker in the first quarter worth approximately $795,000. Envestnet Portfolio Solutions Inc. grew its stake in shares of Stryker by 43.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock valued at $6,617,000 after buying an additional 5,565 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Stryker by 78.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock worth $45,260,000 after acquiring an additional 58,673 shares during the last quarter. M&G Plc purchased a new position in Stryker during the 1st quarter valued at $11,534,000. Finally, OFI Invest Asset Management increased its stake in Stryker by 3,210.9% in the second quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company’s stock worth $1,062,000 after purchasing an additional 3,243 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Activity

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at $3,715,540. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the sale, the insider now owns 9,069 shares in the company, valued at $3,219,495. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,068 shares of company stock valued at $3,693,972. Company insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SYK. Stifel Nicolaus cut their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Morgan Stanley lifted their price target on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Evercore ISI increased their price objective on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. BTIG Research lifted their target price on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Barclays increased their price target on 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 given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Stock Performance

Shares of SYK stock traded up $5.56 during trading hours on Friday, hitting $375.39. The stock had a trading volume of 166,596 shares, compared to its average volume of 1,250,463. The firm has a market capitalization of $143.11 billion, a PE ratio of 39.64, a PEG ratio of 2.78 and a beta of 0.91. The stock’s 50 day moving average is $360.91 and its 200 day moving average is $345.12. 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 twelve month low of $266.93 and a twelve month high of $376.04.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.10. The business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. 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 firm earned $2.46 earnings per share. As a group, research analysts forecast that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

About Stryker

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.