Kestra Investment Management LLC Invests $346,000 in Stryker Co. (NYSE:SYK)

Kestra Investment Management LLC purchased a new position in Stryker Co. (NYSE:SYK) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 958 shares of the medical technology company’s stock, valued at approximately $346,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Avestar Capital LLC lifted its stake in Stryker by 1.1% in the 3rd quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock worth $1,065,000 after purchasing an additional 31 shares in the last quarter. Patrick M Sweeney & Associates Inc. lifted its position in Stryker by 1.5% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock worth $793,000 after buying an additional 32 shares in the last quarter. Stanley Laman Group Ltd. boosted its stake in Stryker by 4.6% during the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after buying an additional 33 shares during the last quarter. Plimoth Trust Co. LLC grew its holdings in Stryker by 0.3% in the 2nd quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock valued at $3,224,000 after buying an additional 33 shares in the last quarter. Finally, Grimes & Company Inc. raised its holdings in shares of Stryker by 0.4% during the 3rd quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock worth $2,977,000 after acquiring an additional 33 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on SYK shares. BTIG Research upped their price objective on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a 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 report on Wednesday, October 30th. Canaccord Genuity Group upped their price objective on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company lifted 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. Finally, StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a research note on Friday, November 22nd. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $398.40.

Insider Buying and Selling

In related news, 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 completion of the transaction, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,781 shares of company stock worth $24,612,275. Company insiders own 5.50% of the company’s stock.

Stryker Stock Performance

NYSE:SYK opened at $389.63 on Tuesday. Stryker Co. has a 52 week low of $285.79 and a 52 week high of $398.20. The company has a fifty day simple moving average of $368.51 and a two-hundred day simple moving average of $351.74. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The company has a market cap of $148.53 billion, a price-to-earnings ratio of 41.76, a price-to-earnings-growth ratio of 2.96 and a beta of 0.94.

Stryker (NYSE:SYK) last released 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 firm 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%. Stryker’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.46 EPS. As a group, equities analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

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.