Benjamin Edwards Inc. Has $50.83 Million Stake in Stryker Co. (NYSE:SYK)

Benjamin Edwards Inc. increased its stake in shares of Stryker Co. (NYSE:SYK) by 2,140.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,676 shares of the medical technology company’s stock after buying an additional 134,396 shares during the quarter. Stryker comprises approximately 0.7% of Benjamin Edwards Inc.’s investment portfolio, making the stock its 23rd biggest position. Benjamin Edwards Inc.’s holdings in Stryker were worth $50,833,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYK. Centennial Bank AR raised its stake in Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Stryker in the 3rd quarter valued at approximately $36,000. Hara Capital LLC bought a new stake in shares of Stryker during the 3rd quarter worth approximately $42,000. HBW Advisory Services LLC acquired a new stake in shares of Stryker during the 3rd quarter worth approximately $42,000. Finally, Grove Bank & Trust increased its stake in Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after acquiring an additional 56 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, 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 transaction, the vice president now owns 10,042 shares in the company, valued at $3,685,213.16. The trade was a 42.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kevin Lobo sold 57,313 shares of the 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 transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,781 shares of company stock worth $24,612,275. 5.50% of the stock is owned by corporate insiders.

Stryker Stock Up 1.0 %

Shares of NYSE SYK opened at $392.15 on Monday. Stryker Co. has a 52-week low of $285.79 and a 52-week high of $398.20. 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 company’s 50 day moving average price is $368.51 and its 200-day moving average price is $351.74. The company has a market capitalization of $149.50 billion, a P/E ratio of 42.03, a price-to-earnings-growth ratio of 2.96 and a beta of 0.94.

Stryker (NYSE:SYK) last issued its quarterly 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 business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the prior year, the firm posted $2.46 earnings per share. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. Equities analysts forecast that Stryker Co. will post 12.06 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SYK shares. Canaccord Genuity Group raised their target price on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. BTIG Research boosted their target price on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Citigroup lifted 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. Wolfe Research started coverage on shares of Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price objective for the company. Finally, Wells Fargo & Company upped their price target on shares of Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus price target of $393.65.

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.