Prospera Financial Services Inc Increases Stock Position in Stryker Co. (NYSE:SYK)

Prospera Financial Services Inc increased its position in Stryker Co. (NYSE:SYK) by 0.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 15,606 shares of the medical technology company’s stock after buying an additional 81 shares during the period. Prospera Financial Services Inc’s holdings in Stryker were worth $5,640,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYK. Patrick M Sweeney & Associates Inc. lifted its stake in shares of Stryker by 1.5% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock valued at $793,000 after purchasing an additional 32 shares in the last quarter. Versant Capital Management Inc lifted its position in Stryker by 4.0% during the second quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock valued at $294,000 after buying an additional 33 shares in the last quarter. Stanley Laman Group Ltd. lifted its position in Stryker by 4.6% during the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock valued at $256,000 after buying an additional 33 shares in the last quarter. Plimoth Trust Co. LLC grew its stake in Stryker by 0.3% during the second quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock worth $3,224,000 after buying an additional 33 shares during the period. Finally, Grimes & Company Inc. increased its position in shares of Stryker by 0.4% in the third quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock worth $2,977,000 after acquiring an additional 33 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Price Performance

Shares of NYSE SYK opened at $388.66 on Wednesday. The business has a 50 day simple moving average of $365.08 and a 200-day simple moving average of $348.40. Stryker Co. has a twelve month low of $285.79 and a twelve month high of $398.20. The company has a market capitalization of $148.16 billion, a price-to-earnings ratio of 41.66, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. 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 (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $5.37 billion. During the same quarter in the previous year, the firm earned $2.46 earnings per share. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities research analysts expect that Stryker Co. will post 12.06 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SYK shares. Royal Bank of Canada upped their price target on shares of Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Citigroup increased their target price on Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Canaccord Genuity Group raised their target price on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Evercore ISI upped their price target on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, UBS Group lifted their price objective on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $393.65.

Insiders Place Their Bets

In related news, CEO Kevin Lobo sold 57,313 shares of the 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 sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The trade was a 6.21 % decrease in their ownership of the stock. 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 quarter. 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.