Vinva Investment Management Ltd Raises Stock Holdings in Stryker Co. (NYSE:SYK)

Vinva Investment Management Ltd grew its stake in shares of Stryker Co. (NYSE:SYK) by 8.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,961 shares of the medical technology company’s stock after buying an additional 1,265 shares during the period. Vinva Investment Management Ltd’s holdings in Stryker were worth $5,750,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Centennial Bank AR boosted its position in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC purchased a new stake in Stryker during the 3rd quarter valued at approximately $36,000. HBW Advisory Services LLC bought a new stake in shares of Stryker during the third quarter valued at approximately $42,000. Hara Capital LLC purchased a new position in shares of Stryker in the third quarter worth $42,000. Finally, Grove Bank & Trust grew its stake in Stryker by 84.8% during the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after acquiring an additional 56 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on SYK shares. Wells Fargo & Company boosted their price target on shares of Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Truist Financial upped their price objective on Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Royal Bank of Canada raised their target price on shares of Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Barclays lifted their price target on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Robert W. Baird boosted their price objective on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus target price of $393.65.

Insider Activity

In other news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction that occurred on Friday, September 13th. The stock was 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 trade represents a 17.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,781 shares of company stock worth $24,612,275. Corporate insiders own 5.90% of the company’s stock.

Stryker Price Performance

NYSE SYK opened at $388.14 on Thursday. The company has a market cap of $147.97 billion, a PE ratio of 41.60, a P/E/G ratio of 2.94 and a beta of 0.91. Stryker Co. has a 52-week low of $285.79 and a 52-week high of $398.20. 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’s 50 day moving average price is $367.50 and its 200-day moving average price is $350.68.

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. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period in the previous year, the company posted $2.46 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. Sell-side analysts forecast that Stryker Co. will post 12.06 EPS for the current fiscal 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.