Assetmark Inc. Boosts Holdings in Stryker Co. (NYSE:SYK)

Assetmark Inc. raised its position in Stryker Co. (NYSE:SYK) by 30.7% in the third quarter, Holdings Channel reports. The institutional investor owned 1,013 shares of the medical technology company’s stock after purchasing an additional 238 shares during the period. Assetmark Inc.’s holdings in Stryker were worth $366,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. Centennial Bank AR lifted its position 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 acquiring an additional 48 shares in the last quarter. Hara Capital LLC purchased a new position in shares of Stryker in the third quarter valued at approximately $42,000. HBW Advisory Services LLC purchased a new position in Stryker in the third quarter valued at $42,000. Grove Bank & Trust raised its holdings in Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after acquiring an additional 56 shares in the last quarter. Finally, DT Investment Partners LLC increased its holdings in Stryker by 114.3% in the third quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock valued at $49,000 after buying an additional 72 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Price Performance

SYK stock opened at $390.08 on Friday. Stryker Co. has a 52-week low of $282.35 and a 52-week high of $392.70. 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 company has a market capitalization of $148.71 billion, a PE ratio of 41.81, a P/E/G ratio of 2.89 and a beta of 0.91. The stock’s 50 day moving average is $364.07 and its two-hundred day moving average is $347.33.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping 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 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 company posted $2.46 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. Analysts predict that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of research reports. Needham & Company LLC boosted their price target on shares of Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group boosted their price objective on shares of Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company increased their price objective 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. Wolfe Research initiated coverage on shares of Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price for the company. Finally, BTIG Research raised their price target on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $393.65.

Insider Activity at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,685,213.16. This represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,381 shares of company stock worth $24,825,275 in the last 90 days. 5.90% of the stock is currently owned by company 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.