The Manufacturers Life Insurance Company Boosts Position in Stryker Co. (NYSE:SYK)

The Manufacturers Life Insurance Company raised its stake in Stryker Co. (NYSE:SYK) by 3.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,257,091 shares of the medical technology company’s stock after buying an additional 47,322 shares during the period. The Manufacturers Life Insurance Company’s holdings in Stryker were worth $454,136,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. grew its position in shares of Stryker by 34.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 7,433 shares of the medical technology company’s stock worth $2,685,000 after buying an additional 1,912 shares in the last quarter. Independent Advisor Alliance grew its holdings in Stryker by 4.8% during the 3rd quarter. Independent Advisor Alliance now owns 6,824 shares of the medical technology company’s stock worth $2,465,000 after acquiring an additional 312 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Stryker during the 3rd quarter valued at about $317,000. Davis R M Inc. raised its holdings in shares of Stryker by 2.7% in the 3rd quarter. Davis R M Inc. now owns 123,960 shares of the medical technology company’s stock valued at $44,782,000 after purchasing an additional 3,279 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Stryker by 12.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 49,003 shares of the medical technology company’s stock worth $17,703,000 after purchasing an additional 5,368 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,685,213.16. This trade represents a 42.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of the business’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 directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,781 shares of company stock worth $24,612,275. Company insiders own 5.50% of the company’s stock.

Stryker Stock Performance

SYK opened at $384.63 on Tuesday. The firm has a 50 day moving average of $366.45 and a two-hundred day moving average of $350.00. The firm has a market capitalization of $146.63 billion, a PE ratio of 41.23, a P/E/G ratio of 2.90 and a beta of 0.91. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. Stryker Co. has a 12-month low of $285.79 and a 12-month high of $398.20.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter last year, the company earned $2.46 EPS. The business’s revenue was up 11.9% on a year-over-year basis. On average, analysts anticipate that Stryker Co. will post 12.06 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 target price (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research report on Friday. Truist Financial increased their price target on shares of Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Wolfe Research began coverage on shares of Stryker in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price objective on the stock. Finally, Robert W. Baird boosted their price objective on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker 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.