Swiss National Bank Has $367.62 Million Position in Stryker Co. (NYSE:SYK)

Swiss National Bank lifted its position in shares of Stryker Co. (NYSE:SYK) by 0.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,017,600 shares of the medical technology company’s stock after purchasing an additional 4,300 shares during the quarter. Swiss National Bank’s holdings in Stryker were worth $367,618,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of SYK. International Assets Investment Management LLC raised its holdings in Stryker by 66,967.5% during the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after acquiring an additional 852,496 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in Stryker by 146.9% during the first quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock worth $314,449,000 after acquiring an additional 522,817 shares in the last quarter. American Century Companies Inc. raised its holdings in Stryker by 287.6% during the second quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock worth $172,033,000 after acquiring an additional 375,166 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Stryker by 49.8% during the second quarter. Canada Pension Plan Investment Board now owns 686,416 shares of the medical technology company’s stock worth $233,553,000 after acquiring an additional 228,139 shares in the last quarter. Finally, Sofinnova Investments Inc. bought a new stake in Stryker during the second quarter worth about $65,697,000. Institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SYK shares. Evercore ISI upped their target price on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price objective on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. UBS Group upped their price objective on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Needham & Company LLC upped their price objective on Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Barclays upped their price objective on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $393.65.

Insider Buying and Selling

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

Stryker Price Performance

Shares of NYSE SYK opened at $390.08 on Friday. The firm has a market cap of $148.71 billion, a P/E ratio of 41.81, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. Stryker Co. has a 1-year low of $282.35 and a 1-year high of $392.70. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The business’s 50 day moving average is $364.07 and its 200-day moving average is $347.40.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. The business 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 quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.46 earnings per share. Equities research analysts predict that Stryker Co. will post 12.06 earnings per share for the current year.

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.