Noesis Capital Mangement Corp Has $22.94 Million Stake in Stryker Co. (NYSE:SYK)

Noesis Capital Mangement Corp lifted its holdings in shares of Stryker Co. (NYSE:SYK) by 5.6% during the 3rd quarter, Holdings Channel reports. The firm owned 63,493 shares of the medical technology company’s stock after purchasing an additional 3,360 shares during the quarter. Stryker comprises 4.6% of Noesis Capital Mangement Corp’s holdings, making the stock its 4th largest position. Noesis Capital Mangement Corp’s holdings in Stryker were worth $22,938,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Stryker by 3.0% during the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after purchasing an additional 215,782 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Stryker by 2.9% during the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock valued at $790,554,000 after acquiring an additional 66,482 shares in the last quarter. Parnassus Investments LLC bought a new stake in shares of Stryker during the third quarter valued at approximately $762,798,000. Charles Schwab Investment Management Inc. raised its position in shares of Stryker by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,936,226 shares of the medical technology company’s stock worth $699,481,000 after purchasing an additional 37,000 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Stryker by 3.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,257,091 shares of the medical technology company’s stock worth $454,136,000 after purchasing an additional 47,322 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SYK shares. Wolfe Research began coverage on shares of Stryker in a report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective on the stock. Stifel Nicolaus lowered their target price on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price target on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Evercore ISI increased their price objective on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, BTIG Research upped their price target on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $393.65.

Stryker Stock Down 0.4 %

Shares of NYSE SYK opened at $388.14 on Thursday. The business’s fifty day moving average price is $367.50 and its 200-day moving average price is $350.68. Stryker Co. has a one year low of $285.79 and a one 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 has a market capitalization of $147.97 billion, a PE ratio of 41.60, a P/E/G ratio of 2.94 and a beta of 0.91.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period in the previous year, the business earned $2.46 EPS. Stryker’s revenue was up 11.9% compared to the same quarter last year. On average, equities research analysts anticipate that Stryker Co. will post 12.06 EPS for the current year.

Insider Buying and Selling

In related news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction 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 owns 100,027 shares in the company, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. The trade was a 17.44 % decrease in their ownership of the stock. 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. Corporate insiders own 5.90% of the company’s stock.

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.