Stryker Co. (NYSE:SYK) Shares Purchased by Parthenon LLC

Parthenon LLC grew its position in shares of Stryker Co. (NYSE:SYK) by 0.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,990 shares of the medical technology company’s stock after purchasing an additional 45 shares during the period. Stryker makes up about 1.7% of Parthenon LLC’s holdings, making the stock its 18th largest holding. Parthenon LLC’s holdings in Stryker were worth $14,086,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Oppenheimer & Co. Inc. grew its position in Stryker by 1.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 21,256 shares of the medical technology company’s stock valued at $7,679,000 after acquiring an additional 381 shares in the last quarter. Simmons Bank acquired a new stake in shares of Stryker during the third quarter worth about $409,000. Community Bank & Trust Waco Texas boosted its stake in shares of Stryker by 20.6% in the third quarter. Community Bank & Trust Waco Texas now owns 941 shares of the medical technology company’s stock valued at $340,000 after purchasing an additional 161 shares during the period. Haverford Trust Co grew its holdings in shares of Stryker by 2.3% in the third quarter. Haverford Trust Co now owns 212,048 shares of the medical technology company’s stock valued at $76,604,000 after purchasing an additional 4,763 shares in the last quarter. Finally, Empower Advisory Group LLC lifted its holdings in Stryker by 6.0% during the 3rd quarter. Empower Advisory Group LLC now owns 1,307 shares of the medical technology company’s stock worth $472,000 after buying an additional 74 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Evercore ISI boosted their price target on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their price target on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. UBS Group lifted their price objective on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and set a $420.00 target price (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Finally, Truist Financial lifted their price target on shares of Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Stock Performance

SYK traded down $0.08 during trading on Wednesday, hitting $387.03. 227,015 shares of the stock were exchanged, compared to its average volume of 1,250,100. The firm has a market capitalization of $147.54 billion, a P/E ratio of 41.49, a PEG ratio of 2.86 and a beta of 0.91. Stryker Co. has a 1-year low of $282.35 and a 1-year high of $388.61. The stock has a fifty day moving average price of $362.38 and a two-hundred day moving average price of $346.42. 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 (NYSE:SYK) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the firm earned $2.46 EPS. Stryker’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, sell-side analysts predict that Stryker Co. will post 12.06 earnings per share for the current year.

Insider Activity at Stryker

In other Stryker news, insider Viju Menon sold 600 shares of Stryker stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Viju Menon sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,381 shares of company stock worth $24,825,275 in the last quarter. Company insiders own 5.50% 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 total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.