Stryker Co. (NYSE:SYK) Shares Purchased by Comgest Global Investors S.A.S.

Comgest Global Investors S.A.S. boosted its holdings in Stryker Co. (NYSE:SYK) by 159.0% in the third quarter, HoldingsChannel.com reports. The firm owned 46,176 shares of the medical technology company’s stock after acquiring an additional 28,349 shares during the period. Comgest Global Investors S.A.S.’s holdings in Stryker were worth $16,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Stryker by 78.9% in 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 purchasing an additional 58,673 shares during the period. M&G Plc acquired a new position in Stryker in the first quarter worth $11,534,000. OFI Invest Asset Management boosted its holdings in Stryker by 3,210.9% in the second quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company’s stock worth $1,062,000 after purchasing an additional 3,243 shares during the period. Tidal Investments LLC boosted its holdings in Stryker by 14.2% in the first quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company’s stock worth $4,853,000 after purchasing an additional 1,681 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Stryker by 2.7% during the second quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company’s stock valued at $210,289,000 after acquiring an additional 16,504 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Price Performance

Stryker stock traded up $6.80 during midday trading on Friday, hitting $390.08. The company’s stock had a trading volume of 2,874,077 shares, compared to its average volume of 1,335,082. The stock’s 50-day moving average price is $364.07 and its 200-day moving average price is $347.33. 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 price-to-earnings-growth ratio of 2.89 and a beta of 0.91. Stryker Co. has a 12 month low of $282.35 and a 12 month high of $392.70.

Stryker (NYSE:SYK) last posted 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 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 business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.46 EPS. Analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Stryker 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 transaction of $213,000.00. Following the transaction, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. The trade was a 6.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,381 shares of company stock worth $24,825,275. Company insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wolfe Research assumed coverage on shares of Stryker in a report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price target for the company. Piper Sandler reissued an “overweight” rating and set a $420.00 price target (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Stifel Nicolaus reduced their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Citigroup boosted their price target on shares of Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $393.65.

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.