Wahed Invest LLC Acquires 955 Shares of Stryker Co. (NYSE:SYK)

Wahed Invest LLC increased its holdings in Stryker Co. (NYSE:SYK) by 12.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,790 shares of the medical technology company’s stock after purchasing an additional 955 shares during the period. Wahed Invest LLC’s holdings in Stryker were worth $3,175,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SYK. Centennial Bank AR boosted its stake in Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares during the period. Darwin Wealth Management LLC purchased a new stake in shares of Stryker during the third quarter valued at $36,000. HBW Advisory Services LLC purchased a new stake in shares of Stryker during the third quarter valued at $42,000. Hara Capital LLC purchased a new stake in Stryker in the third quarter worth about $42,000. Finally, Grove Bank & Trust lifted its stake in Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after acquiring an additional 56 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction dated 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 directly owns 10,042 shares of the company’s stock, valued at $3,685,213.16. The trade was a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,781 shares of company stock worth $24,612,275 in the last quarter. Corporate insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

SYK has been the subject of a number of recent research reports. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $370.00 to $445.00 in a report on Monday. Robert W. Baird upped their price objective on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. UBS Group upped their price objective on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Wells Fargo & Company increased their price target on shares of Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Citigroup increased their price target on shares of Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $398.40.

Stryker Trading Down 1.9 %

Shares of NYSE:SYK opened at $382.39 on Friday. Stryker Co. has a 1 year low of $285.79 and a 1 year high of $398.20. The firm has a market capitalization of $145.77 billion, a price-to-earnings ratio of 40.99, a price-to-earnings-growth ratio of 2.94 and a beta of 0.94. 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’s 50 day moving average price is $370.60 and its 200-day moving average price is $352.99.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same quarter last year, the firm posted $2.46 EPS. The business’s revenue was up 11.9% on a year-over-year basis. On average, equities research analysts forecast 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.