Stryker Co. (NYSE:SYK) Position Increased by Marco Investment Management LLC

Marco Investment Management LLC raised its holdings in shares of Stryker Co. (NYSE:SYK) by 2.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,513 shares of the medical technology company’s stock after purchasing an additional 1,099 shares during the period. Stryker comprises about 1.7% of Marco Investment Management LLC’s portfolio, making the stock its 18th largest holding. Marco Investment Management LLC’s holdings in Stryker were worth $20,055,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in SYK. Clearbridge Investments LLC grew its position in shares of Stryker by 2.9% during the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock worth $790,554,000 after acquiring an additional 66,482 shares during the last quarter. Parnassus Investments LLC bought a new position in shares of Stryker during the third quarter worth about $762,798,000. Charles Schwab Investment Management Inc. grew its position in shares of Stryker by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,936,226 shares of the medical technology company’s stock worth $699,481,000 after acquiring an additional 37,000 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Stryker by 4.0% during the second quarter. The Manufacturers Life Insurance Company now owns 1,209,769 shares of the medical technology company’s stock worth $411,624,000 after acquiring an additional 46,375 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of Stryker by 2.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,143,573 shares of the medical technology company’s stock worth $413,127,000 after acquiring an additional 32,491 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SYK. Canaccord Genuity Group upped their price target on shares of Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada upped their price objective on shares of Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Truist Financial upped their price objective on shares of Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Stifel Nicolaus reduced their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Evercore ISI upped their price objective on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

Insiders Place Their Bets

In other news, CEO Kevin Lobo sold 57,313 shares of the company’s 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Viju Menon sold 600 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares in the company, valued at $3,219,495. This represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,381 shares of company stock worth $24,825,275. Company insiders own 5.90% of the company’s stock.

Stryker Price Performance

Shares of NYSE SYK opened at $384.85 on Friday. The firm has a 50-day moving average of $366.20 and a two-hundred day moving average of $349.48. 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 company has a market capitalization of $146.71 billion, a price-to-earnings ratio of 41.25, a PEG ratio of 2.90 and a beta of 0.91. Stryker Co. has a twelve month low of $285.79 and a twelve month high of $398.20.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.10. The firm had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.46 EPS. As a group, analysts expect that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

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.