Beacon Investment Advisory Services Inc. Has $24.77 Million Stock Holdings in Stryker Co. (NYSE:SYK)

Beacon Investment Advisory Services Inc. boosted its position in Stryker Co. (NYSE:SYK) by 3.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 68,564 shares of the medical technology company’s stock after acquiring an additional 2,505 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Stryker were worth $24,769,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Parnassus Investments LLC acquired a new position in Stryker in the third quarter valued at about $762,798,000. International Assets Investment Management LLC raised its stake in shares of 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 purchasing an additional 852,496 shares during the period. American Century Companies Inc. boosted its holdings in Stryker by 287.6% during the second quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock worth $172,033,000 after purchasing an additional 375,166 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of Stryker by 49.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 686,416 shares of the medical technology company’s stock worth $233,553,000 after purchasing an additional 228,139 shares during the last quarter. Finally, FMR LLC lifted its stake in Stryker by 3.0% in the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after purchasing an additional 215,782 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the company’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 represents a 17.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. The trade was 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 worth $24,612,275. 5.50% of the stock is currently owned by corporate insiders.

Stryker Stock Up 1.0 %

Shares of NYSE SYK opened at $392.15 on Monday. 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 $149.50 billion, a PE ratio of 42.03, a price-to-earnings-growth ratio of 2.96 and a beta of 0.94. Stryker Co. has a 52-week low of $285.79 and a 52-week high of $398.20. The business has a 50-day moving average price of $368.51 and a 200 day moving average price of $351.74.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.10. The firm 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%. Stryker’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.46 earnings per share. Equities research analysts forecast that Stryker Co. will post 12.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $370.00 to $445.00 in a research report on Monday. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price target (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. 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. Royal Bank of Canada raised their price objective on shares of Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Robert W. Baird raised their price objective on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $398.40.

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.