German American Bancorp Inc. Acquires 47 Shares of Stryker Co. (NYSE:SYK)

German American Bancorp Inc. increased its holdings in Stryker Co. (NYSE:SYK) by 6.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 758 shares of the medical technology company’s stock after acquiring an additional 47 shares during the period. German American Bancorp Inc.’s holdings in Stryker were worth $274,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Bessemer Group Inc. raised its position in Stryker by 100.4% in the 1st quarter. Bessemer Group Inc. now owns 18,267 shares of the medical technology company’s stock valued at $6,538,000 after buying an additional 9,150 shares during the last quarter. CreativeOne Wealth LLC lifted its position in shares of Stryker by 55.7% during the first quarter. CreativeOne Wealth LLC now owns 1,924 shares of the medical technology company’s stock valued at $688,000 after purchasing an additional 688 shares in the last quarter. Axxcess Wealth Management LLC lifted its position in shares of Stryker by 2.9% during the 1st quarter. Axxcess Wealth Management LLC now owns 5,074 shares of the medical technology company’s stock worth $1,816,000 after buying an additional 143 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Stryker by 14.7% in the 1st quarter. Advisors Asset Management Inc. now owns 25,943 shares of the medical technology company’s stock worth $9,284,000 after buying an additional 3,321 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Stryker by 19.4% in the first quarter. Canada Pension Plan Investment Board now owns 458,277 shares of the medical technology company’s stock valued at $164,004,000 after acquiring an additional 74,471 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Performance

Stryker stock opened at $385.68 on Thursday. The firm’s 50 day simple moving average is $365.46 and its 200 day simple moving average is $348.66. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. Stryker Co. has a 1-year low of $285.79 and a 1-year high of $398.20. The firm has a market capitalization of $147.03 billion, a PE ratio of 41.34, a price-to-earnings-growth ratio of 2.93 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 EPS 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 analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.46 earnings per share. As a group, analysts expect that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Insider Activity at Stryker

In related news, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at $3,715,540. The trade was a 17.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Viju Menon sold 600 shares of the 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 transaction, the insider now owns 9,069 shares in the company, valued at $3,219,495. The trade was a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,381 shares of company stock valued at $24,825,275 over the last three months. 5.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. UBS Group raised their price objective on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and set a $420.00 target price (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Truist Financial raised their price target on shares of Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Finally, Citigroup increased their price objective on Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Company 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.