Independent Advisor Alliance Has $2.47 Million Position in Stryker Co. (NYSE:SYK)

Independent Advisor Alliance increased its position in shares of Stryker Co. (NYSE:SYK) by 4.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,824 shares of the medical technology company’s stock after purchasing an additional 312 shares during the period. Independent Advisor Alliance’s holdings in Stryker were worth $2,465,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Parnassus Investments LLC acquired a new position in Stryker in the 3rd quarter valued at $762,798,000. International Assets Investment Management LLC raised its holdings in Stryker by 66,967.5% in the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after acquiring an additional 852,496 shares in the last quarter. American Century Companies Inc. raised its holdings in Stryker by 287.6% in the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock valued at $172,033,000 after acquiring an additional 375,166 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Stryker by 49.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 686,416 shares of the medical technology company’s stock valued at $233,553,000 after acquiring an additional 228,139 shares in the last quarter. Finally, Sofinnova Investments Inc. acquired a new position in Stryker in the 2nd quarter valued at $65,697,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,715,540. This trade represents a 17.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,781 shares of company stock valued at $24,612,275. Company insiders own 5.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on SYK shares. StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a report on Friday. BTIG Research lifted their price objective on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. UBS Group boosted their price target on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Evercore ISI boosted their price target on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Stifel Nicolaus lowered their price target on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $393.65.

Stryker Price Performance

Shares of SYK opened at $384.63 on Tuesday. Stryker Co. has a 12-month low of $285.79 and a 12-month high of $398.20. The business has a 50-day simple moving average of $366.45 and a two-hundred day simple moving average of $350.00. 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 stock has a market cap of $146.63 billion, a PE ratio of 41.23, a PEG ratio of 2.90 and a beta of 0.91.

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, beating the consensus estimate of $2.77 by $0.10. The company 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%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.46 earnings per share. Analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

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.