Brown Brothers Harriman & Co. Has $2.69 Million Stock Position in Stryker Co. (NYSE:SYK)

Brown Brothers Harriman & Co. raised its holdings in shares of Stryker Co. (NYSE:SYK) by 34.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,433 shares of the medical technology company’s stock after buying an additional 1,912 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Stryker were worth $2,685,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SYK. Centennial Bank AR boosted its holdings in Stryker by 106.7% in the 2nd 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 stake in Stryker during the third quarter worth about $36,000. HBW Advisory Services LLC acquired a new position in Stryker in the 3rd quarter valued at approximately $42,000. Hara Capital LLC acquired a new stake in shares of Stryker during the 3rd quarter worth approximately $42,000. Finally, Grove Bank & Trust lifted its position in Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 56 shares during the period. 77.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on SYK. Wells Fargo & Company upped their target price on shares of Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Needham & Company LLC increased their target price on Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. BTIG Research upped their price target on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Stifel Nicolaus dropped their price objective on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, Truist Financial boosted their target price on shares of Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Insiders Place Their Bets

In other news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction dated 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 owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at $3,715,540. This represents a 17.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,781 shares of company stock worth $24,612,275. Company insiders own 5.50% of the company’s stock.

Stryker Stock Down 0.1 %

NYSE SYK opened at $384.63 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. Stryker Co. has a 52 week low of $285.79 and a 52 week high of $398.20. The stock has a market capitalization of $146.63 billion, a P/E ratio of 41.23, a price-to-earnings-growth ratio of 2.90 and a beta of 0.91. The stock has a fifty day moving average of $366.45 and a 200-day moving average of $350.00.

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, topping the consensus estimate of $2.77 by $0.10. The firm had revenue of $5.49 billion during 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%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.46 EPS. On average, equities research analysts forecast that Stryker Co. will post 12.06 EPS for the current 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.