AlphaCore Capital LLC Buys Shares of 644 Stryker Co. (NYSE:SYK)

AlphaCore Capital LLC purchased a new position in Stryker Co. (NYSE:SYK) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 644 shares of the medical technology company’s stock, valued at approximately $233,000.

Other hedge funds also recently made changes to their positions in the company. Eagle Asset Management Inc. boosted its stake in Stryker by 7.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 23,856 shares of the medical technology company’s stock worth $8,969,000 after purchasing an additional 1,647 shares during the period. HealthInvest Partners AB lifted its holdings in shares of Stryker by 17.4% in the third quarter. HealthInvest Partners AB now owns 23,460 shares of the medical technology company’s stock worth $8,475,000 after buying an additional 3,477 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Stryker by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,936,226 shares of the medical technology company’s stock valued at $699,481,000 after acquiring an additional 37,000 shares during the period. Smithfield Trust Co grew its stake in Stryker by 10.6% during the third quarter. Smithfield Trust Co now owns 1,937 shares of the medical technology company’s stock valued at $694,000 after acquiring an additional 186 shares in the last quarter. Finally, Integrated Investment Consultants LLC increased its holdings in Stryker by 11.0% during the 3rd quarter. Integrated Investment Consultants LLC now owns 3,836 shares of the medical technology company’s stock worth $1,386,000 after acquiring an additional 380 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the sale, 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 SEC, which is available at this link. Also, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the transaction, the vice president now owns 10,042 shares in the company, valued at $3,715,540. This trade represents a 17.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,381 shares of company stock valued at $24,825,275 over the last quarter. 5.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on SYK shares. Evercore ISI raised their price target on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Truist Financial lifted their price objective on Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Wolfe Research initiated coverage on Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price on the stock. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research report on Friday. Finally, UBS Group upped their price objective on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $393.65.

Stryker Stock Up 1.1 %

Shares of NYSE:SYK opened at $389.88 on Friday. The stock has a market capitalization of $148.63 billion, a P/E ratio of 41.79, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91. The stock’s 50-day moving average price is $365.91 and its 200-day moving average price is $348.95. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. Stryker Co. has a 12-month low of $285.79 and a 12-month high of $398.20.

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