Kingsview Wealth Management LLC Purchases 124 Shares of Stryker Co. (NYSE:SYK)

Kingsview Wealth Management LLC lifted its position in Stryker Co. (NYSE:SYK) by 0.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,118 shares of the medical technology company’s stock after acquiring an additional 124 shares during the period. Kingsview Wealth Management LLC’s holdings in Stryker were worth $5,100,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. LRI Investments LLC purchased a new stake in shares of Stryker in the 1st quarter worth approximately $107,000. Magnetar Financial LLC purchased a new stake in shares of Stryker in the 1st quarter worth approximately $773,000. Bamco Inc. NY grew its stake in shares of Stryker by 28.6% in the 1st quarter. Bamco Inc. NY now owns 18,000 shares of the medical technology company’s stock worth $6,442,000 after buying an additional 4,000 shares during the last quarter. Mount Yale Investment Advisors LLC purchased a new stake in shares of Stryker in the 1st quarter worth approximately $305,000. Finally, Ascent Group LLC grew its stake in shares of Stryker by 1.9% in the 1st quarter. Ascent Group LLC now owns 3,631 shares of the medical technology company’s stock worth $1,299,000 after buying an additional 69 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

SYK stock opened at $384.85 on Friday. The company has a market cap of $146.71 billion, a P/E ratio of 41.25, a price-to-earnings-growth ratio of 2.90 and a beta of 0.91. Stryker Co. has a 1 year low of $285.79 and a 1 year high of $398.20. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The stock’s fifty day moving average price is $366.20 and its 200-day moving average price is $349.48.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS 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 company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period last year, the firm earned $2.46 EPS. Stryker’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities analysts forecast that Stryker Co. will post 12.06 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SYK shares. Royal Bank of Canada upped their price target on Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their price target on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. BTIG Research increased their target price on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research note on Friday. 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 note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $393.65.

Insider Buying and Selling

In related news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This trade represents a 6.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. This represents a 17.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,381 shares of company stock valued at $24,825,275. 5.90% of the stock is owned by company insiders.

About Stryker

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.