Dynamic Technology Lab Private Ltd Purchases New Shares in Stryker Co. (NYSE:SYK)

Dynamic Technology Lab Private Ltd acquired a new position in Stryker Co. (NYSE:SYK) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 877 shares of the medical technology company’s stock, valued at approximately $317,000.

Other large investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its stake in Stryker by 78.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock worth $45,260,000 after acquiring an additional 58,673 shares during the last quarter. OFI Invest Asset Management increased its position in shares of Stryker by 3,210.9% during the 2nd quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company’s stock valued at $1,062,000 after purchasing an additional 3,243 shares during the last quarter. Sivik Global Healthcare LLC raised its holdings in Stryker by 8.0% during the 3rd quarter. Sivik Global Healthcare LLC now owns 27,000 shares of the medical technology company’s stock valued at $9,754,000 after buying an additional 2,000 shares during the period. Envestnet Asset Management Inc. lifted its position in Stryker by 2.7% in the second quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company’s stock worth $210,289,000 after buying an additional 16,504 shares during the last quarter. Finally, Baltimore Washington Financial Advisors Inc. boosted its stake in Stryker by 2.4% during the third quarter. Baltimore Washington Financial Advisors Inc. now owns 66,681 shares of the medical technology company’s stock worth $24,089,000 after buying an additional 1,554 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company increased their target price on shares of Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and issued a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Needham & Company LLC upped their target price on Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Truist Financial raised their price target on Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Finally, UBS Group upped their price objective on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Stock Up 1.0 %

Stryker stock opened at $392.15 on Friday. Stryker Co. has a twelve month low of $285.79 and a twelve month high of $398.20. The business has a fifty day moving average of $368.51 and a two-hundred day moving average of $351.60. The firm has a market cap of $149.49 billion, a P/E ratio of 42.03, a P/E/G ratio of 2.93 and a beta of 0.91. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last issued 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. The company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.46 earnings per share. On average, analysts forecast that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP M Kathryn Fink sold 2,121 shares of the firm’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 completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. This represents a 17.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,781 shares of company stock worth $24,612,275 in the last 90 days. 5.90% of the stock is owned by corporate insiders.

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.