Fiduciary Trust Co Has $11.42 Million Position in Stryker Co. (NYSE:SYK)

Fiduciary Trust Co grew its position in Stryker Co. (NYSE:SYK) by 8.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 31,602 shares of the medical technology company’s stock after purchasing an additional 2,586 shares during the quarter. Fiduciary Trust Co’s holdings in Stryker were worth $11,417,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its stake 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 valued at $45,260,000 after acquiring an additional 58,673 shares during the period. OFI Invest Asset Management grew its position in shares of Stryker by 3,210.9% in the 2nd quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company’s stock valued at $1,062,000 after purchasing an additional 3,243 shares during the period. Tidal Investments LLC increased its stake in Stryker by 14.2% during the 1st 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 in the last quarter. Envestnet Asset Management Inc. raised its holdings in Stryker by 2.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company’s stock worth $210,289,000 after buying an additional 16,504 shares during the period. Finally, Sivik Global Healthcare LLC boosted its holdings in shares of Stryker by 8.0% in the third quarter. Sivik Global Healthcare LLC now owns 27,000 shares of the medical technology company’s stock valued at $9,754,000 after buying an additional 2,000 shares during the period. 77.09% of the stock is owned by institutional investors.

Stryker Trading Down 0.4 %

Shares of Stryker stock opened at $388.14 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The business has a fifty day simple moving average of $367.50 and a two-hundred day simple moving average of $350.68. Stryker Co. has a 1 year low of $285.79 and a 1 year high of $398.20. The company has a market capitalization of $147.97 billion, a price-to-earnings ratio of 41.60, a P/E/G ratio of 2.94 and a beta of 0.91.

Stryker (NYSE:SYK) last announced its earnings results 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 business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. Stryker’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.46 EPS. Research analysts forecast that Stryker Co. will post 12.06 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SYK shares. Wolfe Research started coverage on shares of Stryker in a report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective on the stock. Barclays boosted their price target on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. BTIG Research increased their price objective on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Truist Financial boosted their target price on Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus lowered their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Insider Activity

In other news, CEO Kevin Lobo sold 57,313 shares of the business’s 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 completion of the sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the transaction, the vice president now owns 10,042 shares in the company, valued at $3,715,540. This trade represents a 17.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,781 shares of company stock valued at $24,612,275. 5.90% of the stock is owned by insiders.

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.