Zurcher Kantonalbank Zurich Cantonalbank Increases Holdings in Stryker Co. (NYSE:SYK)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Stryker Co. (NYSE:SYK) by 8.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 154,391 shares of the medical technology company’s stock after acquiring an additional 12,418 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Stryker were worth $55,775,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Avestar Capital LLC raised its position in shares of Stryker by 1.1% during the 3rd quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock valued at $1,065,000 after buying an additional 31 shares in the last quarter. Patrick M Sweeney & Associates Inc. grew its holdings in Stryker by 1.5% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock valued at $793,000 after purchasing an additional 32 shares during the last quarter. Versant Capital Management Inc grew its holdings in Stryker by 4.0% during the 2nd quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock valued at $294,000 after purchasing an additional 33 shares during the last quarter. Stanley Laman Group Ltd. grew its holdings in Stryker by 4.6% during the 2nd quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock valued at $256,000 after purchasing an additional 33 shares during the last quarter. Finally, Plimoth Trust Co. LLC grew its holdings in Stryker by 0.3% during the 2nd quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock valued at $3,224,000 after purchasing an additional 33 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Citigroup upped their price target on shares of Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Truist Financial upped their price target on shares of Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Wells Fargo & Company upped their price target on shares of Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Robert W. Baird upped their price target on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Needham & Company LLC upped their target price on shares of Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $393.65.

Insider Activity at Stryker

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction on 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 transaction, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. This trade represents a 17.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction 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 completion of the transaction, 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 36.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,781 shares of company stock valued at $24,612,275 over the last 90 days. Insiders own 5.90% of the company’s stock.

Stryker Price Performance

Shares of SYK opened at $388.14 on Thursday. Stryker Co. has a fifty-two week low of $285.79 and a fifty-two week high of $398.20. The company has a 50 day moving average price of $367.50 and a 200-day moving average price of $350.68. 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 stock has a market capitalization of $147.97 billion, a PE ratio of 41.60, a PEG ratio of 2.94 and a beta of 0.91.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the prior year, the company posted $2.46 earnings per share. Stryker’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities analysts predict that Stryker Co. will post 12.06 earnings per share for the current fiscal 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.