5,805 Stryker Corporation $SYK Shares Acquired by M&G PLC

M&G PLC increased its position in shares of Stryker Corporation (NYSE:SYK) by 17.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 38,709 shares of the medical technology company’s stock after purchasing an additional 5,805 shares during the period. M&G PLC’s holdings in Stryker were worth $10,645,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Community Bank & Trust Waco Texas lifted its stake in Stryker by 2.3% in the second quarter. Community Bank & Trust Waco Texas now owns 1,395 shares of the medical technology company’s stock worth $439,000 after acquiring an additional 31 shares during the period. Cornerstone Financial Management LLC increased its position in Stryker by 66.0% during the 2nd quarter. Cornerstone Financial Management LLC now owns 78 shares of the medical technology company’s stock valued at $25,000 after purchasing an additional 31 shares during the period. NWF Advisory Services Inc. increased its position in Stryker by 2.3% during the 2nd quarter. NWF Advisory Services Inc. now owns 1,472 shares of the medical technology company’s stock valued at $463,000 after purchasing an additional 33 shares during the period. Private Harbour Investment Management & Counsel LLC raised its holdings in shares of Stryker by 0.9% in the 2nd quarter. Private Harbour Investment Management & Counsel LLC now owns 3,927 shares of the medical technology company’s stock valued at $1,236,000 after purchasing an additional 34 shares in the last quarter. Finally, Natural Investments LLC raised its holdings in shares of Stryker by 1.2% in the 2nd quarter. Natural Investments LLC now owns 2,789 shares of the medical technology company’s stock valued at $878,000 after purchasing an additional 34 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Insider Transactions at Stryker

In related news, insider Debra King sold 826 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total transaction of $277,783.80. Following the completion of the sale, the insider owned 6,210 shares of the company’s stock, valued at $2,088,423. This represents a 11.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Dylan Crotty sold 441 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $328.61, for a total transaction of $144,917.01. Following the completion of the sale, the insider owned 6,102 shares of the company’s stock, valued at approximately $2,005,178.22. This trade represents a 6.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 901,267 shares of company stock valued at $297,123,701 in the last 90 days. Insiders own 4.60% of the company’s stock.

Stryker Price Performance

SYK opened at $324.00 on Wednesday. The business’s 50-day moving average is $292.25 and its two-hundred day moving average is $323.23. Stryker Corporation has a 1 year low of $267.00 and a 1 year high of $389.33. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.18 and a quick ratio of 1.30. The firm has a market capitalization of $123.34 billion, a PE ratio of 34.50, a price-to-earnings-growth ratio of 2.24 and a beta of 0.78.

Stryker (NYSE:SYK) last released 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). The firm had revenue of $6.52 billion for the quarter, compared to analysts’ expectations of $6.62 billion. Stryker had a net margin of 13.78% and a return on equity of 23.74%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.19 earnings per share. Research analysts anticipate that Stryker Corporation will post 14.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SYK has been the subject of several research reports. TD Cowen lowered their price target on shares of Stryker from $298.00 to $290.00 and set a “hold” rating for the company in a research report on Friday, October 30th. BTIG Research cut their price objective on shares of Stryker from $316.00 to $304.00 and set a “buy” rating on the stock in a report on Friday, October 30th. Wolfe Research downgraded shares of Stryker from an “outperform” rating to a “peer perform” rating in a research note on Thursday, August 13th. Robert W. Baird reduced their price objective on shares of Stryker from $385.00 to $334.00 in a research note on Friday, October 30th. Finally, Jefferies Financial Group lowered their target price on Stryker from $440.00 to $405.00 and set a “buy” rating for the company in a report on Tuesday, September 22nd. Twenty-one investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus price target of $342.19.

Stryker Company Profile

Stryker is a medical technology company that develops and sells products and services for healthcare providers. Its offerings include orthopedic implants and surgical equipment, neurotechnology and spine products, and medical and surgical equipment used in hospitals and other care settings. The company’s products also include patient-handling and emergency medical equipment, as well as instruments and technologies that support surgical procedures. Stryker serves healthcare customers in the United States and internationally.