National Wealth Management Group LLC Buys New Position in Stryker Co. (NYSE:SYK)

National Wealth Management Group LLC bought a new stake in Stryker Co. (NYSE:SYK) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,282 shares of the medical technology company’s stock, valued at approximately $824,000.

A number of other large investors have also recently made changes to their positions in the company. Kennedy Capital Management LLC acquired a new stake in Stryker during the 1st quarter worth approximately $957,000. Tidal Investments LLC lifted its position in Stryker by 14.2% during the 1st quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company’s stock worth $4,853,000 after acquiring an additional 1,681 shares during the period. Citizens Financial Group Inc. RI lifted its position in Stryker by 17.2% during the 1st quarter. Citizens Financial Group Inc. RI now owns 2,540 shares of the medical technology company’s stock worth $909,000 after acquiring an additional 372 shares during the period. Swedbank AB acquired a new stake in Stryker during the 1st quarter worth approximately $16,239,000. Finally, Atria Investments Inc lifted its position in Stryker by 12.2% during the 1st quarter. Atria Investments Inc now owns 20,395 shares of the medical technology company’s stock worth $7,299,000 after acquiring an additional 2,212 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Price Performance

SYK stock opened at $388.14 on Thursday. Stryker Co. has a 52-week low of $285.79 and a 52-week high of $398.20. The stock’s fifty day simple moving average is $367.50 and its 200-day simple moving average is $350.68. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $147.97 billion, a price-to-earnings ratio of 41.60, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91.

Stryker (NYSE:SYK) last issued its earnings results 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. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter last year, the firm earned $2.46 earnings per share. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities research analysts expect that Stryker Co. will post 12.06 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on SYK. BTIG Research increased their price objective on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased 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. Needham & Company LLC increased their price objective on Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Evercore ISI increased their target price on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, UBS Group increased their target price on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $393.65.

Insiders Place Their Bets

In other news, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. The trade was a 17.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of Stryker 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 directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was 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 worth $24,612,275 over the last quarter. 5.90% of the stock is owned by corporate insiders.

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.