Chevy Chase Trust Holdings LLC Buys 2,614 Shares of Stryker Co. (NYSE:SYK)

Chevy Chase Trust Holdings LLC grew its position in Stryker Co. (NYSE:SYK) by 1.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 196,771 shares of the medical technology company’s stock after buying an additional 2,614 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of Stryker worth $71,085,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Centennial Bank AR boosted its holdings in shares of Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in Stryker in the third quarter valued at about $36,000. HBW Advisory Services LLC bought a new position in Stryker in the third quarter valued at about $42,000. Hara Capital LLC acquired a new position in Stryker during the third quarter worth about $42,000. Finally, Grove Bank & Trust lifted its holdings in shares of Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after acquiring an additional 56 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Stryker Trading Up 1.0 %

SYK opened at $392.15 on Monday. The stock has a market cap of $149.50 billion, a PE ratio of 42.03, a price-to-earnings-growth ratio of 2.96 and a beta of 0.94. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker Co. has a twelve month low of $285.79 and a twelve month high of $398.20. The company has a fifty day moving average of $368.51 and a 200-day moving average of $351.74.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share 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 firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period last year, the business posted $2.46 EPS. The business’s revenue was up 11.9% compared to the same quarter last year. On average, sell-side analysts predict that Stryker Co. will post 12.06 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Evercore ISI upped their price objective 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. BTIG Research upped their price target on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $370.00 to $445.00 in a research note on Monday. Wolfe Research began coverage on Stryker in a report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price for the company. Finally, Wells Fargo & Company increased their target price on Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $398.40.

Insiders Place Their Bets

In other news, VP M Kathryn Fink sold 7,347 shares of the firm’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 transaction of $2,696,202.06. Following the completion of the sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,685,213.16. This trade represents a 42.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,781 shares of company stock worth $24,612,275. 5.50% of the stock is 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.