Chevy Chase Trust Holdings LLC Purchases 2,614 Shares of Stryker Co. (NYSE:SYK)

Chevy Chase Trust Holdings LLC increased its position in Stryker Co. (NYSE:SYK) by 1.3% during the third quarter, Holdings Channel.com reports. The firm owned 196,771 shares of the medical technology company’s stock after buying an additional 2,614 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Stryker were worth $71,085,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Stryker by 78.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock valued at $45,260,000 after buying an additional 58,673 shares during the last quarter. OFI Invest Asset Management increased its holdings in Stryker by 3,210.9% during the 2nd quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company’s stock worth $1,062,000 after purchasing an additional 3,243 shares in the last quarter. Baltimore Washington Financial Advisors Inc. raised its stake in shares of Stryker by 2.4% in 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 purchasing an additional 1,554 shares during the last quarter. Sivik Global Healthcare LLC lifted its holdings 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, Envestnet Asset Management Inc. boosted its position in shares of Stryker by 2.7% during the second quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company’s stock valued at $210,289,000 after buying an additional 16,504 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SYK. Truist Financial increased their price target on Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. BTIG Research increased their target price on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Needham & Company LLC boosted their price target on shares of Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $370.00 to $445.00 in a research note on Monday. Finally, Robert W. Baird boosted their target price on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $398.40.

Stryker Price Performance

Shares of NYSE:SYK opened at $392.15 on Monday. The company has a 50-day moving average price of $368.51 and a two-hundred day moving average price of $351.74. The firm has a market capitalization of $149.50 billion, a PE ratio of 42.03, a P/E/G ratio of 2.96 and a beta of 0.94. Stryker Co. has a twelve month low of $285.79 and a twelve month high of $398.20. 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 posted its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period last year, the company earned $2.46 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities analysts forecast that Stryker Co. will post 12.06 EPS for the current year.

Insider Buying and Selling at Stryker

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. This represents a 17.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction on 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 sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,781 shares of company stock valued at $24,612,275 in the last quarter. 5.50% of the stock is currently owned by corporate insiders.

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.