Swedbank AB Has $18.45 Million Stake in Stryker Co. (NYSE:SYK)

Swedbank AB raised its holdings in Stryker Co. (NYSE:SYK) by 10.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 51,070 shares of the medical technology company’s stock after acquiring an additional 5,032 shares during the quarter. Swedbank AB’s holdings in Stryker were worth $18,450,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Centennial Bank AR grew its stake in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after buying an additional 48 shares in the last quarter. Darwin Wealth Management LLC bought a new position in shares of Stryker in the 3rd quarter valued at about $36,000. HBW Advisory Services LLC acquired a new position in shares of Stryker during the 3rd quarter worth about $42,000. Hara Capital LLC bought a new stake in shares of Stryker in the 3rd quarter valued at about $42,000. Finally, Grove Bank & Trust lifted its stake in Stryker by 84.8% in the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after purchasing an additional 56 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SYK. JPMorgan Chase & Co. upped their price objective on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Wolfe Research started coverage on Stryker in a report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price target for the company. 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. Canaccord Genuity Group raised their target price on shares of Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a research note on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $393.65.

Insider Activity at Stryker

In related news, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now owns 10,042 shares in the company, valued at $3,685,213.16. This trade represents a 42.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the sale, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,781 shares of company stock valued at $24,612,275 in the last quarter. Insiders own 5.90% of the company’s stock.

Stryker Trading Up 1.2 %

Shares of SYK opened at $389.71 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. Stryker Co. has a 52-week low of $285.79 and a 52-week high of $398.20. The firm has a market cap of $148.56 billion, a price-to-earnings ratio of 41.77, a PEG ratio of 2.90 and a beta of 0.91. The business’s fifty day moving average is $366.97 and its 200-day moving average is $350.42.

Stryker (NYSE:SYK) last issued 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. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the previous year, the firm earned $2.46 earnings per share. The business’s quarterly revenue was up 11.9% on a year-over-year basis. Equities analysts anticipate that Stryker Co. will post 12.06 EPS 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.