644 Shares in Stryker Co. (NYSE:SYK) Purchased by AlphaCore Capital LLC

AlphaCore Capital LLC acquired a new stake in Stryker Co. (NYSE:SYK) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 644 shares of the medical technology company’s stock, valued at approximately $233,000.

A number of other hedge funds also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC lifted its holdings in Stryker by 78.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock worth $45,260,000 after purchasing an additional 58,673 shares during the last quarter. OFI Invest Asset Management increased its holdings in shares of Stryker by 3,210.9% during the second quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company’s stock worth $1,062,000 after buying an additional 3,243 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Stryker by 14.2% during the first quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company’s stock valued at $4,853,000 after purchasing an additional 1,681 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Stryker by 2.7% in the second quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company’s stock valued at $210,289,000 after buying an additional 16,504 shares during the period. Finally, Sivik Global Healthcare LLC raised its holdings in Stryker by 8.0% in the 3rd quarter. Sivik Global Healthcare LLC now owns 27,000 shares of the medical technology company’s stock valued at $9,754,000 after buying an additional 2,000 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SYK has been the subject of a number of recent research reports. UBS Group increased their price objective on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a report on Friday. Citigroup raised their price target on shares of Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, BTIG Research upped their price objective on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $393.65.

Stryker Stock Performance

Shares of SYK stock opened at $389.88 on Friday. 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 firm has a fifty day simple moving average of $365.91 and a two-hundred day simple moving average of $348.95. Stryker Co. has a 12 month low of $285.79 and a 12 month high of $398.20. The firm has a market capitalization of $148.63 billion, a PE ratio of 41.79, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91.

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

Insider Transactions at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares in the company, valued at $3,219,495. This represents a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,381 shares of company stock worth $24,825,275 in the last 90 days. 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.