First Business Financial Services Inc. Has $3.12 Million Holdings in Stryker Co. (NYSE:SYK)

First Business Financial Services Inc. lifted its stake in Stryker Co. (NYSE:SYK) by 12.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,627 shares of the medical technology company’s stock after purchasing an additional 924 shares during the quarter. Stryker accounts for 0.3% of First Business Financial Services Inc.’s portfolio, making the stock its 25th largest position. First Business Financial Services Inc.’s holdings in Stryker were worth $3,117,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its holdings 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 valued at $45,260,000 after purchasing an additional 58,673 shares in the last quarter. M&G Plc bought a new stake in shares of Stryker during the 1st quarter worth about $11,534,000. OFI Invest Asset Management increased its holdings in shares of Stryker by 3,210.9% during the 2nd quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company’s stock valued at $1,062,000 after acquiring an additional 3,243 shares during the last quarter. Tidal Investments LLC lifted its holdings in Stryker by 14.2% in the 1st quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company’s stock worth $4,853,000 after purchasing an additional 1,681 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Stryker by 2.7% during the second quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company’s stock worth $210,289,000 after purchasing an additional 16,504 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Down 1.3 %

Shares of SYK opened at $383.28 on Friday. The company has a market capitalization of $146.11 billion, a P/E ratio of 41.08, a PEG ratio of 2.93 and a beta of 0.91. Stryker Co. has a one year low of $282.35 and a one year high of $392.70. The business’s 50 day simple moving average is $362.94 and its 200-day simple moving average is $346.72. 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 posted its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the previous year, the firm earned $2.46 earnings per share. The business’s revenue was up 11.9% on a year-over-year basis. As a group, sell-side analysts predict that Stryker Co. will post 12.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SYK has been the topic of a number of research analyst reports. Wolfe Research began coverage on shares of Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price on the stock. Canaccord Genuity Group lifted their price objective on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their target price on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Stifel Nicolaus cut their price target on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Evercore ISI boosted their target price on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $393.65.

Insider Buying and Selling at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction dated Thursday, November 7th. The stock was 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 directly owns 100,027 shares in the company, 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 can be accessed through the SEC website. Also, insider Viju Menon sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the transaction, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. This trade represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,381 shares of company stock worth $24,825,275. 5.90% of the stock is currently owned by corporate insiders.

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.