King Luther Capital Management Corp Acquires 1,357 Shares of Stryker Co. (NYSE:SYK)

King Luther Capital Management Corp lifted its stake in Stryker Co. (NYSE:SYK) by 0.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 393,826 shares of the medical technology company’s stock after purchasing an additional 1,357 shares during the period. King Luther Capital Management Corp owned 0.10% of Stryker worth $142,274,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Centennial Bank AR grew its holdings in Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC acquired a new position in Stryker in the third quarter valued at about $36,000. HBW Advisory Services LLC acquired a new position in shares of Stryker in the 3rd quarter valued at approximately $42,000. Hara Capital LLC bought a new stake in Stryker during the 3rd quarter worth approximately $42,000. Finally, Grove Bank & Trust raised its holdings 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 worth $44,000 after acquiring an additional 56 shares during the period. Institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on SYK. JPMorgan Chase & Co. lifted their price target on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Truist Financial upped their target price on Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Wolfe Research initiated coverage on Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price target on the stock. Evercore ISI increased their price objective on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

Insider Buying and Selling at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Viju Menon sold 600 shares of Stryker stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. This trade represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,381 shares of company stock valued at $24,825,275. 5.90% of the stock is currently owned by corporate insiders.

Stryker Stock Down 0.8 %

SYK stock opened at $385.68 on Thursday. Stryker Co. has a 52 week low of $285.79 and a 52 week high of $398.20. The business has a 50-day simple moving average of $365.46 and a 200 day simple moving average of $348.66. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The company has a market cap of $147.03 billion, a PE ratio of 41.34, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.77 by $0.10. The company had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.46 EPS. Sell-side analysts anticipate that Stryker Co. will post 12.06 EPS for the current fiscal year.

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.