EP Wealth Advisors LLC Has $71.09 Million Position in Stryker Co. (NYSE:SYK)

EP Wealth Advisors LLC lifted its stake in Stryker Co. (NYSE:SYK) by 4.0% during the third quarter, HoldingsChannel reports. The fund owned 196,791 shares of the medical technology company’s stock after purchasing an additional 7,526 shares during the quarter. EP Wealth Advisors LLC’s holdings in Stryker were worth $71,092,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its position 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 worth $45,260,000 after acquiring an additional 58,673 shares in the last quarter. OFI Invest Asset Management grew its stake in shares of Stryker by 3,210.9% in the second quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company’s stock worth $1,062,000 after acquiring an additional 3,243 shares during the last quarter. Baltimore Washington Financial Advisors Inc. grew its position in Stryker by 2.4% during the third quarter. Baltimore Washington Financial Advisors Inc. now owns 66,681 shares of the medical technology company’s stock worth $24,089,000 after buying an additional 1,554 shares in the last quarter. Sivik Global Healthcare LLC raised its stake 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 purchasing an additional 2,000 shares in the last quarter. Finally, Parnassus Investments LLC acquired a new stake in shares of Stryker during the 3rd quarter valued at about $762,798,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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 value of $784,770.00. Following the completion of the transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. The trade was a 17.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,781 shares of company stock valued at $24,612,275 over the last quarter. Company insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SYK. Barclays boosted their target price on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Evercore ISI upped their price target on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Truist Financial raised their price objective on Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. UBS Group raised their price objective on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their price target on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $398.40.

Stryker Stock Performance

NYSE SYK opened at $384.98 on Friday. The company has a fifty day moving average price of $370.60 and a 200-day moving average price of $352.99. The firm has a market cap of $146.76 billion, a price-to-earnings ratio of 41.26, a PEG 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. Stryker Co. has a 1 year low of $285.79 and a 1 year high of $398.20.

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 analysts’ consensus estimates 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 the consensus estimate of $5.37 billion. During the same period in the prior year, the firm earned $2.46 EPS. The company’s revenue was up 11.9% compared to the same quarter last year. As a group, equities research analysts predict that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Company 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.