Patrick M Sweeney & Associates Inc. Acquires New Holdings in Stryker Co. (NYSE:SYK)

Patrick M Sweeney & Associates Inc. purchased a new stake in Stryker Co. (NYSE:SYK) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,271 shares of the medical technology company’s stock, valued at approximately $680,000.

A number of other institutional investors have also made changes to their positions in SYK. Farmers & Merchants Trust Co of Chambersburg PA raised its position in Stryker by 203.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 61 shares in the last quarter. Rogco LP bought a new position in Stryker during the fourth quarter worth $30,000. HBC Financial Services PLLC bought a new position in shares of Stryker in the fourth quarter valued at about $37,000. Bourgeon Capital Management LLC acquired a new stake in shares of Stryker during the 4th quarter worth about $37,000. Finally, Venturi Wealth Management LLC grew its stake in Stryker by 97.1% in the 4th quarter. Venturi Wealth Management LLC now owns 136 shares of the medical technology company’s stock valued at $41,000 after buying an additional 67 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Insider Transactions at Stryker

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the transaction, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 5.50% of the company’s stock.

Stryker Price Performance

SYK traded down $2.86 during trading on Wednesday, reaching $329.28. 1,169,848 shares of the company were exchanged, compared to its average volume of 1,330,905. The company’s 50-day moving average is $346.05 and its two-hundred day moving average is $318.84. The company has a market cap of $125.44 billion, a price-to-earnings ratio of 37.63, a P/E/G ratio of 2.54 and a beta of 0.91. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $361.41.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same period in the prior year, the company earned $2.14 EPS. The company’s revenue was up 9.7% on a year-over-year basis. Research analysts forecast that Stryker Co. will post 11.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 price target for the company in a research report on Wednesday, January 31st. Piper Sandler lifted their price target on Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Needham & Company LLC restated a “hold” rating on shares of Stryker in a research report on Wednesday, May 1st. Evercore ISI raised their price objective on Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Finally, Royal Bank of Canada raised their price objective on Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $365.94.

About Stryker

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.