Parkman Healthcare Partners LLC Invests $10.12 Million in Stryker Co. (NYSE:SYK)

Parkman Healthcare Partners LLC purchased a new stake in shares of Stryker Co. (NYSE:SYK) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 28,000 shares of the medical technology company’s stock, valued at approximately $10,115,000. Stryker makes up approximately 1.3% of Parkman Healthcare Partners LLC’s investment portfolio, making the stock its 25th biggest position.

Other institutional investors have also added to or reduced their stakes in the company. Morse Asset Management Inc boosted its stake in Stryker by 16.5% in the 3rd quarter. Morse Asset Management Inc now owns 1,410 shares of the medical technology company’s stock worth $509,000 after purchasing an additional 200 shares in the last quarter. IHT Wealth Management LLC increased its position in shares of Stryker by 55.5% during the third quarter. IHT Wealth Management LLC now owns 2,834 shares of the medical technology company’s stock valued at $1,023,000 after acquiring an additional 1,011 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in Stryker by 1.0% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 5,629 shares of the medical technology company’s stock worth $2,034,000 after acquiring an additional 54 shares during the last quarter. Investment Management Corp of Ontario boosted its stake in Stryker by 26.0% during the 3rd quarter. Investment Management Corp of Ontario now owns 17,945 shares of the medical technology company’s stock valued at $6,483,000 after purchasing an additional 3,700 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Stryker by 1.5% during the third quarter. Janus Henderson Group PLC now owns 1,969,757 shares of the medical technology company’s stock valued at $711,594,000 after purchasing an additional 28,421 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Truist Financial upped their price target on shares of Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Royal Bank of Canada upped their price target on Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research note on Friday, November 22nd. Robert W. Baird lifted their price target on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Needham & Company LLC increased 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. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $398.40.

Insiders Place Their Bets

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This represents a 42.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. 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 ninety days. Insiders own 5.50% of the company’s stock.

Stryker Stock Performance

Shares of Stryker stock opened at $390.97 on Wednesday. Stryker Co. has a one year low of $285.79 and a one year high of $398.20. The company has a market capitalization of $149.04 billion, a PE ratio of 41.90, a P/E/G ratio of 2.94 and a beta of 0.94. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The company has a 50-day simple moving average of $369.58 and a two-hundred day simple moving average of $352.53.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping 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 business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the previous year, the firm posted $2.46 earnings per share. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. Research analysts expect that Stryker Co. will post 12.06 EPS for the current fiscal 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.