Healthcare of Ontario Pension Plan Trust Fund Acquires 89,283 Shares of Stryker Co. (NYSE:SYK)

Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Stryker Co. (NYSE:SYK) by 162.3% in the third quarter, HoldingsChannel.com reports. The firm owned 144,283 shares of the medical technology company’s stock after purchasing an additional 89,283 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Stryker were worth $52,124,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Centennial Bank AR raised its position in shares of 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 during the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Stryker in the 3rd quarter valued at $36,000. Hara Capital LLC acquired a new position in Stryker in the 3rd quarter worth $42,000. HBW Advisory Services LLC acquired a new position in Stryker in the 3rd quarter worth $42,000. Finally, Grove Bank & Trust boosted its stake in Stryker by 84.8% in the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 56 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Activity

In other news, CEO Kevin Lobo sold 57,313 shares of Stryker 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 completion of the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the business’s 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 transaction, the vice president now owns 10,042 shares in the company, valued at approximately $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. Insiders sold 66,781 shares of company stock worth $24,612,275 over the last three months. 5.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

SYK has been the subject of a number of recent research reports. BTIG Research increased their price objective on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Canaccord Genuity Group raised their target price on shares of Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Evercore ISI increased their price target 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. Finally, Stifel Nicolaus cut their target price on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and an average target price of $393.65.

Stryker Trading Down 0.4 %

SYK opened at $388.14 on Thursday. Stryker Co. has a 1-year low of $285.79 and a 1-year high of $398.20. 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 cap of $147.97 billion, a P/E ratio of 41.60, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. The company has a fifty day moving average price of $367.50 and a two-hundred day moving average price of $350.68.

Stryker (NYSE:SYK) last issued its quarterly earnings data 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. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the company earned $2.46 earnings per share. Analysts predict 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.