Quantinno Capital Management LP Has $12.18 Million Stock Holdings in Stryker Co. (NYSE:SYK)

Quantinno Capital Management LP lifted its stake in shares of Stryker Co. (NYSE:SYK) by 47.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,706 shares of the medical technology company’s stock after purchasing an additional 10,879 shares during the period. Quantinno Capital Management LP’s holdings in Stryker were worth $12,177,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SYK. Parnassus Investments LLC purchased a new position in shares of Stryker during the third quarter valued at $762,798,000. International Assets Investment Management LLC grew its holdings in shares of Stryker by 66,967.5% during the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after buying an additional 852,496 shares in the last quarter. RTW Investments LP purchased a new position in shares of Stryker during the third quarter valued at $143,392,000. American Century Companies Inc. grew its holdings in shares of Stryker by 287.6% during the second quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock valued at $172,033,000 after buying an additional 375,166 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Stryker by 49.8% during the second quarter. Canada Pension Plan Investment Board now owns 686,416 shares of the medical technology company’s stock valued at $233,553,000 after buying an additional 228,139 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Royal Bank of Canada lifted their price target on Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Barclays boosted their target price on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Canaccord Genuity Group boosted their target price on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Robert W. Baird boosted their target price on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $370.00 to $445.00 in a report on Monday. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and an average price target of $398.40.

Stryker Stock Performance

NYSE SYK opened at $389.76 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The company has a market capitalization of $148.58 billion, a P/E ratio of 41.77, a P/E/G ratio of 2.95 and a beta of 0.94. The company has a fifty day moving average of $370.18 and a 200-day moving average of $352.79. Stryker Co. has a 52-week low of $285.79 and a 52-week high of $398.20.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (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 company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the previous year, the company earned $2.46 earnings per share. Stryker’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, equities research analysts predict that Stryker Co. will post 12.06 EPS for the current fiscal year.

Insider Transactions at Stryker

In other news, VP M Kathryn Fink sold 7,347 shares of the 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 directly owns 10,042 shares of the company’s stock, valued at $3,685,213.16. This represents a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of the firm’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 directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,781 shares of company stock worth $24,612,275. Corporate insiders own 5.90% of the company’s stock.

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.