King Luther Capital Management Corp Has $142.27 Million Stake in Stryker Co. (NYSE:SYK)

King Luther Capital Management Corp lifted its position in shares of Stryker Co. (NYSE:SYK) by 0.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 393,826 shares of the medical technology company’s stock after purchasing an additional 1,357 shares during the quarter. King Luther Capital Management Corp’s holdings in Stryker were worth $142,274,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its position in shares of Stryker by 78.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock worth $45,260,000 after acquiring an additional 58,673 shares in the last quarter. OFI Invest Asset Management lifted its stake in Stryker by 3,210.9% in the second quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company’s stock valued at $1,062,000 after buying an additional 3,243 shares during the period. Tidal Investments LLC boosted its holdings in shares of Stryker by 14.2% during the 1st quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company’s stock worth $4,853,000 after buying an additional 1,681 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Stryker by 2.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company’s stock valued at $210,289,000 after acquiring an additional 16,504 shares in the last quarter. Finally, Sivik Global Healthcare LLC lifted its position in shares of Stryker by 8.0% during the 3rd quarter. Sivik Global Healthcare LLC now owns 27,000 shares of the medical technology company’s stock valued at $9,754,000 after acquiring an additional 2,000 shares during the period. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Down 0.8 %

SYK opened at $385.68 on Thursday. The stock has a market capitalization of $147.03 billion, a price-to-earnings ratio of 41.34, a PEG ratio of 2.93 and a beta of 0.91. The firm has a 50 day moving average price of $365.46 and a 200-day moving average price of $348.66. Stryker Co. has a twelve month low of $285.79 and a twelve month high of $398.20. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last released 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. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the prior year, the firm earned $2.46 EPS. The company’s revenue was up 11.9% compared to the same quarter last year. Equities research analysts forecast that Stryker Co. will post 12.06 earnings per share for the current year.

Insider Buying and Selling at Stryker

In related news, insider Viju Menon sold 600 shares of the 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 completion of the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This represents a 6.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP M Kathryn Fink sold 2,121 shares of the firm’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 sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. This represents a 17.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,381 shares of company stock worth $24,825,275 in the last three months. 5.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SYK. Truist Financial raised their price target on shares of Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group upped their price target on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Wolfe Research initiated coverage on shares of Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price target for the company. JPMorgan Chase & Co. upped 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. Finally, Wells Fargo & Company lifted their price target on shares of Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $393.65.

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.