Royal London Asset Management Ltd. Has $118.04 Million Stock Holdings in Stryker Co. (NYSE:SYK)

Royal London Asset Management Ltd. grew its holdings in Stryker Co. (NYSE:SYK) by 2.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 326,752 shares of the medical technology company’s stock after acquiring an additional 6,721 shares during the period. Royal London Asset Management Ltd.’s holdings in Stryker were worth $118,042,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Avestar Capital LLC raised its stake in shares of Stryker by 1.1% in the 3rd quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock valued at $1,065,000 after buying an additional 31 shares in the last quarter. Patrick M Sweeney & Associates Inc. raised its stake in shares of Stryker by 1.5% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock valued at $793,000 after buying an additional 32 shares in the last quarter. Stanley Laman Group Ltd. raised its stake in shares of Stryker by 4.6% in the 2nd quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock valued at $256,000 after buying an additional 33 shares in the last quarter. Plimoth Trust Co. LLC increased its position in shares of Stryker by 0.3% during the 2nd quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock worth $3,224,000 after purchasing an additional 33 shares in the last quarter. Finally, Grimes & Company Inc. increased its position 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 purchasing an additional 33 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Down 0.3 %

Shares of NYSE SYK opened at $389.76 on Thursday. The firm has a market capitalization of $148.58 billion, a PE ratio of 41.77, a price-to-earnings-growth ratio of 2.95 and a beta of 0.94. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. Stryker Co. has a 1 year low of $285.79 and a 1 year high of $398.20. The firm’s 50-day moving average is $370.18 and its 200-day moving average is $352.79.

Stryker (NYSE:SYK) last issued its 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. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.46 EPS. Equities analysts expect that Stryker Co. will post 12.06 EPS for the current year.

Insider Activity

In related news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred 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 of the company’s stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the transaction, the vice president now directly owns 10,042 shares in the company, valued at $3,685,213.16. The trade was a 42.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,781 shares of company stock valued at $24,612,275. 5.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SYK. Wolfe Research began coverage on shares of Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price for the company. Truist Financial increased their target price on shares of Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Citigroup increased their target price on shares of Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Robert W. Baird increased their target price on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC increased their target price on shares of Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus target price of $398.40.

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.