Simmons Bank Makes New Investment in Stryker Co. (NYSE:SYK)

Simmons Bank bought a new stake in Stryker Co. (NYSE:SYK) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 733 shares of the medical technology company’s stock, valued at approximately $220,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Peddock Capital Advisors LLC boosted its holdings in shares of Stryker by 3.1% during the fourth quarter. Peddock Capital Advisors LLC now owns 4,584 shares of the medical technology company’s stock worth $1,373,000 after purchasing an additional 136 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Stryker by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,771,049 shares of the medical technology company’s stock valued at $530,358,000 after acquiring an additional 30,593 shares during the last quarter. Apollon Wealth Management LLC raised its stake in shares of Stryker by 70.3% in the 4th quarter. Apollon Wealth Management LLC now owns 9,964 shares of the medical technology company’s stock valued at $2,984,000 after acquiring an additional 4,114 shares in the last quarter. Machina Capital S.A.S. bought a new stake in Stryker during the fourth quarter worth approximately $338,000. Finally, Maryland State Retirement & Pension System grew its holdings in Stryker by 1.1% during the fourth quarter. Maryland State Retirement & Pension System now owns 27,656 shares of the medical technology company’s stock valued at $8,282,000 after purchasing an additional 294 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Ratings Changes

SYK has been the subject of a number of analyst reports. Needham & Company LLC restated a “hold” rating on shares of Stryker in a research note on Wednesday, May 1st. Wells Fargo & Company raised their price target on Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. BTIG Research boosted their price objective on Stryker from $366.00 to $369.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Stifel Nicolaus lifted their price target on Stryker from $350.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $365.94.

Insider Activity

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the transaction, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at $1,317,414. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 5.50% of the stock is currently owned by company insiders.

Stryker Trading Down 1.2 %

NYSE SYK traded down $3.92 on Wednesday, reaching $328.22. The company had a trading volume of 741,924 shares, compared to its average volume of 1,325,638. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. The stock has a market cap of $125.04 billion, a price-to-earnings ratio of 37.63, a PEG ratio of 2.54 and a beta of 0.91. The stock’s 50 day moving average is $346.05 and its 200-day moving average is $318.84. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $361.41.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the firm posted $2.14 earnings per share. Equities analysts predict that Stryker Co. will post 11.94 earnings per share for the current 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.