Oppenheimer & Co. Inc. Grows Position in Stryker Co. (NYSE:SYK)

Oppenheimer & Co. Inc. raised its position in Stryker Co. (NYSE:SYK) by 1.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,256 shares of the medical technology company’s stock after purchasing an additional 381 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Stryker were worth $7,679,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SYK. Koshinski Asset Management Inc. purchased a new position in shares of Stryker in the 1st quarter worth about $795,000. Kingsview Wealth Management LLC grew its stake in shares of Stryker by 0.3% in the first quarter. Kingsview Wealth Management LLC now owns 14,166 shares of the medical technology company’s stock valued at $5,069,000 after buying an additional 47 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in shares of Stryker by 5.0% in the first quarter. Lord Abbett & CO. LLC now owns 821 shares of the medical technology company’s stock valued at $294,000 after buying an additional 39 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in shares of Stryker by 10.7% in the first quarter. Orion Portfolio Solutions LLC now owns 14,202 shares of the medical technology company’s stock valued at $5,082,000 after buying an additional 1,372 shares in the last quarter. Finally, Great Lakes Retirement Inc. grew its stake in shares of Stryker by 1.9% in the first quarter. Great Lakes Retirement Inc. now owns 4,250 shares of the medical technology company’s stock valued at $1,521,000 after buying an additional 78 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Trading Up 0.3 %

Shares of NYSE SYK opened at $388.34 on Thursday. The company has a market cap of $148.04 billion, a price-to-earnings ratio of 41.62, a price-to-earnings-growth ratio of 2.92 and a beta of 0.91. Stryker Co. has a 12-month low of $282.35 and a 12-month high of $390.59. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The stock’s 50 day simple moving average is $362.38 and its 200 day simple moving average is $346.42.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.10. The business had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the business posted $2.46 EPS. Equities research analysts expect that Stryker Co. will post 12.06 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SYK shares. Stifel Nicolaus lowered their target price on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Truist Financial increased their target price on Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Wells Fargo & Company increased their target price on Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Canaccord Genuity Group raised their price objective on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $393.65.

Insider Buying and Selling

In related news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was 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 owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Stryker news, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,685,213.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 in the company, valued at $36,879,954.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,381 shares of company stock valued at $24,825,275. Insiders own 5.90% of the company’s stock.

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.