UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Holdings in Stryker Co. (NYSE:SYK)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Stryker Co. (NYSE:SYK) by 4.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,745,971 shares of the medical technology company’s stock after acquiring an additional 74,224 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Stryker were worth $630,749,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Centennial Bank AR grew its stake 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 acquiring an additional 48 shares in the last quarter. Darwin Wealth Management LLC bought a new position in shares of Stryker during the 3rd quarter valued at about $36,000. HBW Advisory Services LLC bought a new position in shares of Stryker during the 3rd quarter valued at about $42,000. Hara Capital LLC purchased a new position in shares of Stryker during the third quarter valued at about $42,000. Finally, Grove Bank & Trust lifted its position in shares of 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 buying an additional 56 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Down 0.4 %

NYSE:SYK opened at $388.14 on Friday. The company has a market cap of $147.97 billion, a price-to-earnings ratio of 41.60, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91. Stryker Co. has a twelve month low of $285.79 and a twelve month high of $398.20. 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 stock has a fifty day simple moving average of $367.97 and a 200-day simple moving average of $350.94.

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, beating analysts’ consensus estimates of $2.77 by $0.10. The company had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the business posted $2.46 EPS. Analysts anticipate that Stryker Co. will post 12.06 EPS for the current year.

Insider Buying and Selling

In related news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Kevin Lobo sold 57,313 shares of Stryker 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 directly owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,781 shares of company stock valued at $24,612,275 over the last quarter. 5.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Needham & Company LLC raised their target price on shares of Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Evercore ISI upped their price target on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada increased their price objective on shares of Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Wolfe Research initiated coverage on shares of Stryker in a report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.