Stryker Co. (NYSE:SYK) Shares Purchased by Brooklyn Investment Group

Brooklyn Investment Group grew its position in shares of Stryker Co. (NYSE:SYK) by 3.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,465 shares of the medical technology company’s stock after acquiring an additional 85 shares during the quarter. Brooklyn Investment Group’s holdings in Stryker were worth $891,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of SYK. FMR LLC grew its position in Stryker by 3.0% in the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after purchasing an additional 215,782 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of Stryker by 2.9% during the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock worth $790,554,000 after buying an additional 66,482 shares during the period. Parnassus Investments LLC bought a new position in Stryker in the 3rd quarter worth approximately $762,798,000. Charles Schwab Investment Management Inc. increased its position in Stryker by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,936,226 shares of the medical technology company’s stock valued at $699,481,000 after acquiring an additional 37,000 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in Stryker by 3.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,257,091 shares of the medical technology company’s stock valued at $454,136,000 after acquiring an additional 47,322 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

SYK stock opened at $386.03 on Tuesday. The firm has a 50-day moving average of $366.45 and a two-hundred day moving average of $350.00. The firm has a market capitalization of $147.16 billion, a PE ratio of 41.23, a P/E/G ratio of 2.90 and a beta of 0.91. 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 one year low of $285.79 and a one year high of $398.20.

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

Insider Transactions at Stryker

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,685,213.16. This represents a 42.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,781 shares of company stock valued at $24,612,275 over the last quarter. Company insiders own 5.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SYK. BTIG Research increased their price target on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Barclays increased their target price on shares of Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Needham & Company LLC raised their target price on shares of Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Evercore ISI upped their price target on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Truist Financial raised their price objective on shares of Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $393.65.

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.