Gabelli Funds LLC Has $12.63 Million Holdings in Stryker Co. (NYSE:SYK)

Gabelli Funds LLC lessened its holdings in shares of Stryker Co. (NYSE:SYK) by 2.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,400 shares of the medical technology company’s stock after selling 1,000 shares during the quarter. Gabelli Funds LLC’s holdings in Stryker were worth $12,631,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SYK. Hollencrest Capital Management grew its position in Stryker by 31.0% during the second quarter. Hollencrest Capital Management now owns 169 shares of the medical technology company’s stock worth $52,000 after buying an additional 40 shares in the last quarter. Oxford Financial Group Ltd. lifted its stake in Stryker by 85.1% during the second quarter. Oxford Financial Group Ltd. now owns 2,032 shares of the medical technology company’s stock worth $620,000 after purchasing an additional 934 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in Stryker by 3.3% during the second quarter. Commonwealth Equity Services LLC now owns 161,153 shares of the medical technology company’s stock worth $49,166,000 after purchasing an additional 5,088 shares during the last quarter. AXS Investments LLC lifted its stake in Stryker by 1.8% during the second quarter. AXS Investments LLC now owns 5,656 shares of the medical technology company’s stock worth $1,726,000 after purchasing an additional 100 shares during the last quarter. Finally, Johnson Investment Counsel Inc. lifted its stake in Stryker by 3.6% during the second quarter. Johnson Investment Counsel Inc. now owns 11,387 shares of the medical technology company’s stock worth $3,474,000 after purchasing an additional 395 shares during the last quarter. Institutional investors and hedge funds own 76.24% of the company’s stock.

Stryker Stock Performance

Shares of SYK opened at $289.29 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.48 and a quick ratio of 0.83. The stock has a 50-day moving average of $274.86 and a 200-day moving average of $282.47. The company has a market cap of $109.90 billion, a PE ratio of 42.92, a P/E/G ratio of 2.78 and a beta of 0.94. Stryker Co. has a one year low of $222.65 and a one year high of $306.93.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, November 2nd. The medical technology company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.43 by $0.03. The company had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.87 billion. Stryker had a return on equity of 22.62% and a net margin of 13.00%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the business posted $2.12 EPS. On average, equities research analysts predict that Stryker Co. will post 10.41 EPS for the current fiscal year.

Analysts Set New Price Targets

SYK has been the subject of a number of research reports. Citigroup dropped their price target on Stryker from $342.00 to $330.00 and set a “buy” rating for the company in a research note on Monday, October 2nd. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Monday, November 6th. UBS Group increased their price target on Stryker from $289.00 to $297.00 and gave the company a “neutral” rating in a research note on Thursday, November 9th. Roth Mkm reiterated a “buy” rating and issued a $345.00 price target on shares of Stryker in a research note on Thursday, November 9th. Finally, Bank of America raised Stryker from a “neutral” rating to a “buy” rating and raised their target price for the stock from $310.00 to $315.00 in a research report on Tuesday, September 5th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $311.30.

Insider Activity

In other news, insider Viju Menon sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $289.00, for a total value of $1,445,000.00. Following the completion of the sale, the insider now directly owns 6,994 shares in the company, valued at approximately $2,021,266. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Stryker news, Director Srikant M. Datar sold 750 shares of Stryker stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $287.57, for a total transaction of $215,677.50. Following the transaction, the director now owns 5,316 shares of the company’s stock, valued at approximately $1,528,722.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Viju Menon sold 5,000 shares of Stryker stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $289.00, for a total transaction of $1,445,000.00. Following the transaction, the insider now directly owns 6,994 shares in the company, valued at approximately $2,021,266. The disclosure for this sale can be found here. Insiders sold a total of 6,250 shares of company stock worth $1,806,638 in the last three months. Company insiders own 5.90% 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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.