Brown Brothers Harriman & Co. Has $2.69 Million Stake in Stryker Co. (NYSE:SYK)

Brown Brothers Harriman & Co. grew its stake in Stryker Co. (NYSE:SYK) by 34.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 7,433 shares of the medical technology company’s stock after purchasing an additional 1,912 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Stryker were worth $2,685,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of SYK. Patrick M Sweeney & Associates Inc. increased its position in shares of 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 worth $793,000 after purchasing an additional 32 shares during the last quarter. Versant Capital Management Inc raised its position in Stryker by 4.0% during the second quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock worth $294,000 after acquiring an additional 33 shares in the last quarter. Stanley Laman Group Ltd. lifted its stake in Stryker by 4.6% in the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock valued at $256,000 after acquiring an additional 33 shares during the last quarter. Plimoth Trust Co. LLC grew its position in shares of Stryker by 0.3% in 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 acquiring an additional 33 shares during the period. Finally, Grimes & Company Inc. increased its stake in shares of Stryker by 0.4% during the 3rd quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock worth $2,977,000 after purchasing an additional 33 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Insider Activity

In related news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,715,540. This represents a 17.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,781 shares of company stock worth $24,612,275. Corporate insiders own 5.50% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on SYK shares. Canaccord Genuity Group upped their price objective on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Stifel Nicolaus reduced their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a research note on Friday. Royal Bank of Canada increased their price target on shares of Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $420.00 target price (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average target price of $393.65.

Stryker Stock Performance

Shares of NYSE:SYK opened at $384.63 on Tuesday. The company’s 50 day simple moving average is $366.45 and its 200 day simple moving average is $350.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. Stryker Co. has a 1 year low of $285.79 and a 1 year high of $398.20. The stock has a market capitalization of $146.63 billion, a price-to-earnings ratio of 41.23, a price-to-earnings-growth ratio of 2.90 and a beta of 0.91.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. The company had revenue of $5.49 billion during 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 revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.46 EPS. As a group, research analysts predict that Stryker Co. will post 12.06 EPS 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.