Kornitzer Capital Management Inc. KS Raises Holdings in Stryker Co. (NYSE:SYK)

Kornitzer Capital Management Inc. KS increased its position in shares of Stryker Co. (NYSE:SYK) by 1.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,084 shares of the medical technology company’s stock after buying an additional 152 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Stryker were worth $2,920,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Centennial Bank AR boosted its position in Stryker by 106.7% during the 2nd 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. Central Pacific Bank Trust Division purchased a new stake in shares of Stryker during the 1st quarter worth $39,000. HBW Advisory Services LLC bought a new stake in Stryker during the third quarter valued at about $42,000. Grove Bank & Trust grew its stake in Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after purchasing an additional 56 shares during the last quarter. Finally, DT Investment Partners LLC raised its holdings in Stryker by 114.3% in 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. 77.09% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction dated 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 sale, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. This represents a 0.00 % decrease in their position. The transaction 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 stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,381 shares of company stock worth $24,825,275 in the last ninety days. Company insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SYK shares. Evercore ISI lifted their price objective 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. Stifel Nicolaus cut their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Barclays increased their price objective on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Piper Sandler restated an “overweight” rating and set a $420.00 target price (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their target price on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $393.65.

Stryker Stock Up 1.7 %

NYSE:SYK opened at $375.96 on Friday. The firm has a market capitalization of $143.32 billion, a P/E ratio of 40.30, a PEG ratio of 2.78 and a beta of 0.91. The company’s fifty day moving average price is $361.46 and its 200-day moving average price is $345.63. Stryker Co. has a 1-year low of $266.93 and a 1-year high of $377.83. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) 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 company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the previous year, the company posted $2.46 earnings per share. Stryker’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities research analysts anticipate that Stryker Co. will post 12.06 EPS for the current year.

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.