595 Shares in Stryker Co. (NYSE:SYK) Purchased by Portside Wealth Group LLC

Portside Wealth Group LLC bought a new stake in Stryker Co. (NYSE:SYK) during the third quarter, Holdings Channel.com reports. The fund bought 595 shares of the medical technology company’s stock, valued at approximately $215,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Hara Capital LLC bought a new stake in shares of Stryker in the third quarter valued at approximately $42,000. Kornitzer Capital Management Inc. KS boosted its holdings in Stryker by 1.9% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 8,084 shares of the medical technology company’s stock valued at $2,920,000 after purchasing an additional 152 shares during the period. Principal Financial Group Inc. grew its position in Stryker by 6.2% in the 3rd quarter. Principal Financial Group Inc. now owns 398,422 shares of the medical technology company’s stock worth $143,934,000 after purchasing an additional 23,329 shares during the last quarter. Blake Schutter Theil Wealth Advisors LLC bought a new position in shares of Stryker during the 3rd quarter worth about $402,000. Finally, Forte Capital LLC ADV raised its position in shares of Stryker by 1.8% during the third quarter. Forte Capital LLC ADV now owns 5,407 shares of the medical technology company’s stock valued at $1,953,000 after buying an additional 93 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Stryker Stock Up 1.7 %

NYSE SYK opened at $375.96 on Friday. The stock’s 50 day simple moving average is $361.46 and its 200 day simple moving average is $345.63. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. Stryker Co. has a one year low of $266.93 and a one year high of $377.83. The firm has a market cap of $143.32 billion, a PE ratio of 40.30, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91.

Stryker (NYSE:SYK) last announced its earnings results 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. The company had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the company posted $2.46 earnings per share. As a group, sell-side analysts forecast that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Insider Transactions at Stryker

In related news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Viju Menon sold 600 shares of Stryker stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,381 shares of company stock worth $24,825,275. Corporate insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the topic of a number of recent research reports. Canaccord Genuity Group lifted their target price on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and set a $420.00 price objective (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Stifel Nicolaus cut their target price on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Needham & Company LLC lifted their price target on shares of Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird increased their price objective on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $393.65.

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.