Harbour Investments Inc. Increases Stake in Stryker Co. (NYSE:SYK)

Harbour Investments Inc. grew its stake in Stryker Co. (NYSE:SYK) by 4.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,330 shares of the medical technology company’s stock after purchasing an additional 256 shares during the period. Harbour Investments Inc.’s holdings in Stryker were worth $2,287,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Centennial Bank AR grew its position 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 buying an additional 48 shares during the period. HBW Advisory Services LLC acquired a new stake in shares of Stryker during the 3rd quarter valued at about $42,000. Hara Capital LLC purchased a new position in shares of Stryker in the 3rd quarter valued at about $42,000. Grove Bank & Trust raised its holdings in Stryker by 84.8% in the 3rd 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. Finally, DT Investment Partners LLC boosted its position in Stryker by 114.3% during the third quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock worth $49,000 after purchasing an additional 72 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of SYK stock opened at $388.34 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The firm has a market cap of $148.04 billion, a P/E ratio of 41.62, a P/E/G ratio of 2.92 and a beta of 0.91. The firm’s 50 day moving average price is $362.38 and its 200-day moving average price is $346.42. Stryker Co. has a one year low of $282.35 and a one year high of $390.59.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.77 by $0.10. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the business posted $2.46 earnings per share. As a group, equities research analysts predict that Stryker Co. will post 12.06 EPS for the current year.

Insider Buying and Selling at Stryker

In other news, VP M Kathryn Fink sold 2,121 shares of the firm’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 approximately $3,715,540. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,381 shares of company stock valued at $24,825,275 in the last three months. 5.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SYK. Royal Bank of Canada boosted their price objective on Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Wells Fargo & Company upped their price objective on shares of Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Thursday. Evercore ISI upped their price target on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC lifted their price objective on Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $393.65.

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.