1,862 Shares in Stryker Co. (NYSE:SYK) Bought by Black Diamond Financial LLC

Black Diamond Financial LLC bought a new position in Stryker Co. (NYSE:SYK) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,862 shares of the medical technology company’s stock, valued at approximately $673,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Centennial Bank AR increased its stake 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 valued at $32,000 after buying an additional 48 shares in the last quarter. HBW Advisory Services LLC acquired a new stake in Stryker in the third quarter worth about $42,000. Hara Capital LLC acquired a new stake in Stryker in the third quarter worth about $42,000. Grove Bank & Trust grew its position in shares of Stryker by 84.8% during the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after buying an additional 56 shares during the period. Finally, DT Investment Partners LLC grew its position in shares of Stryker by 114.3% during the 3rd quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock worth $49,000 after buying an additional 72 shares during the period. 77.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SYK has been the topic of several recent analyst reports. Robert W. Baird lifted their price objective on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Barclays boosted their target price on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Wolfe Research initiated coverage on Stryker in a report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price on the stock. Royal Bank of Canada boosted their target price on Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company upped their price objective on Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Stock Performance

Shares of Stryker stock opened at $383.28 on Friday. The business’s fifty day simple moving average is $362.94 and its 200 day simple moving average is $346.72. The firm has a market capitalization of $146.11 billion, a P/E ratio of 41.08, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91. Stryker Co. has a 12 month low of $282.35 and a 12 month high of $392.70. 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 (NYSE:SYK) last announced its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.10. The company had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.46 earnings per share. As a group, analysts anticipate that Stryker Co. will post 12.06 EPS for the current year.

Insider Activity

In other Stryker news, insider Viju Menon sold 600 shares of Stryker stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. The trade was a 6.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the business’s 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 directly owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. This trade represents a 17.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,381 shares of company stock worth $24,825,275. 5.90% of the stock is owned by corporate insiders.

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.