Stryker Corporation $SYK Stock: Rakuten Investment Management Inc. Increases Stake

Rakuten Investment Management Inc. increased its holdings in Stryker Corporation (NYSE:SYK) by 10.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,389 shares of the medical technology company’s stock after acquiring an additional 5,976 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Stryker were worth $17,392,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Gables Capital Management Inc. bought a new position in shares of Stryker during the second quarter valued at approximately $25,000. Kilter Group LLC bought a new position in shares of Stryker during the 2nd quarter valued at approximately $25,000. Highland Investment Advisors LLC bought a new stake in shares of Stryker during the second quarter valued at approximately $25,000. Cornerstone Financial Management LLC grew its position in Stryker by 66.0% in the second quarter. Cornerstone Financial Management LLC now owns 78 shares of the medical technology company’s stock worth $25,000 after acquiring an additional 31 shares in the last quarter. Finally, Compass Financial Management LLC purchased a new stake in shares of Stryker during the second quarter valued at $27,000. 77.09% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Ronda Stryker sold 50,000 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $340.10, for a total value of $17,005,000.00. Following the completion of the transaction, the director owned 2,251,375 shares in the company, valued at approximately $765,692,637.50. This represents a 2.17% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Debra King sold 826 shares of Stryker stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total value of $277,783.80. Following the completion of the sale, the insider directly owned 6,210 shares of the company’s stock, valued at $2,088,423. This trade represents a 11.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 351,267 shares of company stock worth $118,197,701 in the last ninety days. Insiders own 4.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $309.00 price target (down from $317.00) on shares of Stryker in a research report on Friday, October 30th. JPMorgan Chase & Co. lowered their price objective on shares of Stryker from $350.00 to $340.00 and set an “overweight” rating for the company in a research report on Friday, October 30th. Barclays cut their target price on Stryker from $375.00 to $365.00 and set an “overweight” rating on the stock in a research report on Friday, October 30th. Johnson Rice downgraded Stryker to a “hold” rating in a report on Friday, October 30th. Finally, Truist Financial reissued a “hold” rating and issued a $305.00 price objective (down from $310.00) on shares of Stryker in a research note on Monday. Twenty-one research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $343.73.

Stryker Stock Performance

Shares of SYK opened at $340.39 on Thursday. Stryker Corporation has a 1 year low of $267.00 and a 1 year high of $389.33. The company has a market cap of $129.59 billion, a price-to-earnings ratio of 36.25, a price-to-earnings-growth ratio of 2.13 and a beta of 0.78. The firm has a fifty day moving average of $292.21 and a 200-day moving average of $323.91. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.30 and a current ratio of 2.18.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, October 29th. The medical technology company reported $3.52 EPS for the quarter, missing the consensus estimate of $3.55 by ($0.03). Stryker had a return on equity of 23.74% and a net margin of 13.78%. The business had revenue of $6.52 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter last year, the firm posted $3.19 earnings per share. Stryker’s revenue was up 7.6% compared to the same quarter last year. As a group, equities analysts anticipate that Stryker Corporation will post 14.85 earnings per share for the current year.

Stryker Company Profile

Stryker Corporation (NYSE: SYK) is a global medical technology company that develops and manufactures products used by healthcare providers in hospitals, surgical centers and other clinical settings. Its offerings are designed to support orthopaedic procedures, surgery, emergency care, neurovascular treatment and patient handling.

The company’s product portfolio includes orthopaedic implants and instruments, products for trauma and spine procedures, surgical equipment, endoscopy systems, patient beds and stretchers, emergency medical equipment, and neurovascular devices used in the treatment of conditions such as stroke.