Davis R M Inc. Grows Stock Position in Stryker Co. (NYSE:SYK)

Davis R M Inc. boosted its position in shares of Stryker Co. (NYSE:SYK) by 2.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 123,960 shares of the medical technology company’s stock after buying an additional 3,279 shares during the quarter. Davis R M Inc.’s holdings in Stryker were worth $44,782,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Centennial Bank AR increased its stake in Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC bought a new stake in Stryker during the 3rd quarter valued at $36,000. Hara Capital LLC purchased a new stake in shares of Stryker in the 3rd quarter worth $42,000. HBW Advisory Services LLC bought a new position in shares of Stryker during the 3rd quarter worth $42,000. Finally, Grove Bank & Trust increased its stake in shares of Stryker by 84.8% during the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after buying an additional 56 shares during the period. Institutional investors own 77.09% of the company’s stock.

Insiders Place Their Bets

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. The trade was a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction 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 36.43 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,381 shares of company stock valued at $24,825,275. 5.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Canaccord Genuity Group raised their target price on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. BTIG Research lifted their price target on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a research note on Friday. Robert W. Baird lifted their target price on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their price target on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Price Performance

NYSE SYK opened at $384.85 on Monday. The company has a market cap of $146.71 billion, a price-to-earnings ratio of 41.25, a PEG ratio of 2.90 and a beta of 0.91. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The stock’s fifty day moving average price is $366.20 and its 200 day moving average price is $349.63. Stryker Co. has a 1 year low of $285.79 and a 1 year high of $398.20.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating 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 business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same period in the prior year, the company earned $2.46 earnings per share. The company’s revenue was up 11.9% on a year-over-year basis. As a group, equities research analysts forecast that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker 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.