ABLE Financial Group LLC Has $260,000 Position in Stryker Co. (NYSE:SYK)

ABLE Financial Group LLC lifted its position in Stryker Co. (NYSE:SYK) by 16.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 718 shares of the medical technology company’s stock after buying an additional 100 shares during the period. ABLE Financial Group LLC’s holdings in Stryker were worth $260,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Centennial Bank AR boosted its holdings in Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in Stryker during the first quarter valued at approximately $39,000. Hara Capital LLC bought a new position in Stryker in the third quarter valued at approximately $42,000. HBW Advisory Services LLC acquired a new position in shares of Stryker during the 3rd quarter worth approximately $42,000. Finally, Grove Bank & Trust raised its stake 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 purchasing an additional 56 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on SYK. Piper Sandler reissued an “overweight” rating and issued a $420.00 target price (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Stifel Nicolaus dropped their price target on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a report on Wednesday. Barclays boosted their price target on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, BTIG Research boosted their price target on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Stock Up 1.5 %

NYSE SYK traded up $5.56 during trading hours on Friday, hitting $375.39. The company’s stock had a trading volume of 166,596 shares, compared to its average volume of 1,250,463. 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’s 50-day simple moving average is $360.91 and its two-hundred day simple moving average is $345.12. The company has a market capitalization of $143.11 billion, a PE ratio of 39.64, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. Stryker Co. has a 52 week low of $266.93 and a 52 week high of $376.04.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.10. The company had revenue of $5.49 billion for 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%. Stryker’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.46 earnings per share. Research analysts anticipate that Stryker Co. will post 12.06 EPS for the current fiscal year.

Insider Activity

In related news, insider Viju Menon sold 600 shares of Stryker stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the sale, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Viju Menon sold 600 shares of Stryker stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP M Kathryn Fink sold 7,347 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the sale, the vice president now directly owns 10,042 shares in the company, valued at $3,685,213.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,068 shares of company stock worth $3,693,972 over the last quarter. Insiders own 5.90% of the company’s stock.

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.