Chesapeake Wealth Management Has $340,000 Position in Stryker Co. (NYSE:SYK)

Chesapeake Wealth Management raised its position in Stryker Co. (NYSE:SYK) by 10.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 942 shares of the medical technology company’s stock after purchasing an additional 86 shares during the quarter. Chesapeake Wealth Management’s holdings in Stryker were worth $340,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SYK. Centennial Bank AR raised its stake in shares of 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 last quarter. HBW Advisory Services LLC acquired a new stake in shares of Stryker during the third quarter worth $42,000. Hara Capital LLC acquired a new stake in shares of Stryker during the third quarter worth $42,000. Grove Bank & Trust grew its position in Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after purchasing an additional 56 shares in the last quarter. Finally, DT Investment Partners LLC grew its position in Stryker by 114.3% in the third quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock valued at $49,000 after purchasing an additional 72 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SYK shares. Wells Fargo & Company lifted their price objective on shares of Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and set a $420.00 target price (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Needham & Company LLC lifted their price objective on shares of Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Robert W. Baird lifted their price objective on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Canaccord Genuity Group lifted their price objective on shares of Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Trading Down 0.2 %

SYK opened at $389.40 on Tuesday. Stryker Co. has a fifty-two week low of $285.79 and a fifty-two week high of $398.20. 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 firm has a market capitalization of $148.45 billion, a price-to-earnings ratio of 41.74, a PEG ratio of 2.94 and a beta of 0.91. The company’s 50 day moving average price is $364.61 and its two-hundred day moving average price is $347.98.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS 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 company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same period in the prior year, the firm posted $2.46 EPS. The company’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, research analysts predict that Stryker Co. will post 12.06 earnings per share for the current year.

Insider Activity

In other Stryker 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 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. This represents a 17.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction on 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 owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,381 shares of company stock valued at $24,825,275. 5.50% of the stock is currently owned by insiders.

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.