Public Sector Pension Investment Board Increases Stock Position in Stryker Co. (NYSE:SYK)

Public Sector Pension Investment Board boosted its holdings in Stryker Co. (NYSE:SYK) by 1,552.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 207,889 shares of the medical technology company’s stock after buying an additional 195,310 shares during the period. Public Sector Pension Investment Board’s holdings in Stryker were worth $75,102,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Kennedy Capital Management LLC bought a new stake in Stryker in the 1st quarter worth about $957,000. Tidal Investments LLC grew its stake in shares of 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 acquiring an additional 1,681 shares during the period. Citizens Financial Group Inc. RI raised its holdings in shares of Stryker by 17.2% during the first quarter. Citizens Financial Group Inc. RI now owns 2,540 shares of the medical technology company’s stock valued at $909,000 after purchasing an additional 372 shares during the last quarter. Swedbank AB bought a new position in Stryker during the first quarter valued at approximately $16,239,000. Finally, Atria Investments Inc boosted its holdings in Stryker by 12.2% in the first quarter. Atria Investments Inc now owns 20,395 shares of the medical technology company’s stock worth $7,299,000 after purchasing an additional 2,212 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SYK has been the topic of several research analyst reports. Stifel Nicolaus lowered their price target on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Truist Financial increased their target price on Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Barclays boosted their price target on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. BTIG Research increased their price objective on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Canaccord Genuity Group boosted their target price on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $393.65.

Insider Activity at Stryker

In related news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,715,540. This represents a 17.44 % 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, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,781 shares of company stock valued at $24,612,275. Corporate insiders own 5.90% of the company’s stock.

Stryker Price Performance

Shares of Stryker stock opened at $388.14 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker Co. has a 52 week low of $285.79 and a 52 week high of $398.20. The stock’s 50-day simple moving average is $367.50 and its 200-day simple moving average is $350.68. The company has a market capitalization of $147.97 billion, a price-to-earnings ratio of 41.60, a PEG ratio of 2.94 and a beta of 0.91.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share 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 return on equity of 23.07% and a net margin of 16.34%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.46 EPS. As a group, analysts expect that Stryker Co. will post 12.06 earnings per share for the current fiscal 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.