Chesapeake Wealth Management Has $340,000 Stake in Stryker Co. (NYSE:SYK)

Chesapeake Wealth Management increased its position in shares of Stryker Co. (NYSE:SYK) by 10.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 942 shares of the medical technology company’s stock after buying an additional 86 shares during the period. Chesapeake Wealth Management’s holdings in Stryker were worth $340,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SYK. Caprock Group LLC lifted its position in Stryker by 2.8% during the third quarter. Caprock Group LLC now owns 8,611 shares of the medical technology company’s stock worth $3,118,000 after purchasing an additional 234 shares during the period. Nixon Peabody Trust Co. increased its position in Stryker by 1.4% during the 3rd quarter. Nixon Peabody Trust Co. now owns 57,448 shares of the medical technology company’s stock valued at $20,754,000 after purchasing an additional 780 shares during the period. Drive Wealth Management LLC increased its position in Stryker by 10.3% during the 3rd quarter. Drive Wealth Management LLC now owns 720 shares of the medical technology company’s stock valued at $261,000 after purchasing an additional 67 shares during the period. Strengthening Families & Communities LLC increased its position in Stryker by 6.2% during the 3rd quarter. Strengthening Families & Communities LLC now owns 8,386 shares of the medical technology company’s stock valued at $3,029,000 after purchasing an additional 487 shares during the period. Finally, Aviso Wealth Management grew its position in shares of Stryker by 70.6% during the 3rd quarter. Aviso Wealth Management now owns 1,020 shares of the medical technology company’s stock worth $368,000 after buying an additional 422 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on SYK shares. Barclays raised their price objective 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. Stifel Nicolaus lowered their target price on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Robert W. Baird lifted their target price on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Truist Financial lifted their target price on Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Stock Performance

NYSE SYK opened at $389.40 on Tuesday. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The business’s 50 day moving average is $364.61 and its two-hundred day moving average is $347.98. Stryker Co. has a 12-month low of $285.79 and a 12-month high of $398.20. The stock has a market capitalization of $148.45 billion, a price-to-earnings ratio of 41.74, a PEG ratio of 2.94 and a beta of 0.91.

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

Insider Buying and Selling at Stryker

In related news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. This trade represents a 6.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,685,213.16. This represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,381 shares of company stock valued at $24,825,275 in the last ninety days. Insiders own 5.50% of the company’s stock.

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.