Empowered Funds LLC Acquires 399 Shares of Stryker Co. (NYSE:SYK)

Empowered Funds LLC lifted its holdings in shares of Stryker Co. (NYSE:SYK) by 6.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,504 shares of the medical technology company’s stock after purchasing an additional 399 shares during the period. Empowered Funds LLC’s holdings in Stryker were worth $2,350,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Empirical Finance LLC raised its stake in shares of Stryker by 2.4% in the third quarter. Empirical Finance LLC now owns 11,556 shares of the medical technology company’s stock worth $4,175,000 after purchasing an additional 269 shares during the last quarter. Signature Estate & Investment Advisors LLC grew its holdings in Stryker by 3.9% during the third quarter. Signature Estate & Investment Advisors LLC now owns 1,459 shares of the medical technology company’s stock valued at $527,000 after purchasing an additional 55 shares during the period. Vectors Research Management LLC grew its holdings in Stryker by 2.4% during the third quarter. Vectors Research Management LLC now owns 2,823 shares of the medical technology company’s stock valued at $1,020,000 after purchasing an additional 67 shares during the period. Black Diamond Financial LLC bought a new position in Stryker during the third quarter valued at $673,000. Finally, First Business Financial Services Inc. grew its holdings in Stryker by 12.0% during the third quarter. First Business Financial Services Inc. now owns 8,627 shares of the medical technology company’s stock valued at $3,117,000 after purchasing an additional 924 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Stock Down 0.2 %

SYK opened at $388.66 on Wednesday. The company has a market cap of $148.16 billion, a P/E ratio of 41.66, a P/E/G ratio of 2.94 and a beta of 0.91. The business’s 50-day moving average price is $365.08 and its 200-day moving average price is $348.40. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. Stryker Co. has a 12 month low of $285.79 and a 12 month high of $398.20.

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 the consensus estimate of $2.77 by $0.10. The firm 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 company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.46 earnings per share. On average, equities analysts expect that Stryker Co. will post 12.06 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SYK. JPMorgan Chase & Co. raised their price target on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a report 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 report on Wednesday, October 30th. Wolfe Research began coverage on Stryker in a report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price target for the company. Needham & Company LLC raised their price target on Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $393.65.

Insider Transactions at Stryker

In related news, insider Viju Menon sold 600 shares of the firm’s 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 sale, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. This trade represents a 6.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the sale, the vice president now directly owns 10,042 shares in the company, valued at $3,685,213.16. The trade was a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,381 shares of company stock worth $24,825,275. Company insiders own 5.50% of the company’s stock.

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.