Stryker Corporation $SYK Stock: Provenance Wealth Advisors LLC Increases Holdings

Provenance Wealth Advisors LLC grew its position in Stryker Corporation (NYSE:SYK) by 1,376.5% during the third quarter, HoldingsChannel reports. The firm owned 3,455 shares of the medical technology company’s stock after buying an additional 3,221 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in Stryker were worth $951,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Associated Banc Corp bought a new position in shares of Stryker in the third quarter worth about $5,488,000. Integrity Alliance LLC. boosted its stake in Stryker by 14.7% during the 3rd quarter. Integrity Alliance LLC. now owns 2,313 shares of the medical technology company’s stock valued at $637,000 after purchasing an additional 296 shares during the period. Integrity Advisory Solutions LLC boosted its stake in Stryker by 24.0% during the 3rd quarter. Integrity Advisory Solutions LLC now owns 1,282 shares of the medical technology company’s stock valued at $353,000 after purchasing an additional 248 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in Stryker by 1.1% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 42,871 shares of the medical technology company’s stock valued at $11,806,000 after purchasing an additional 448 shares during the period. Finally, First Nebraska Trust Co acquired a new stake in Stryker in the 3rd quarter valued at approximately $4,137,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Performance

Shares of NYSE SYK opened at $340.39 on Thursday. The business has a fifty day simple moving average of $292.21 and a 200 day simple moving average of $323.91. The company has a current ratio of 2.18, a quick ratio of 1.30 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $129.59 billion, a price-to-earnings ratio of 36.25, a PEG ratio of 2.13 and a beta of 0.78. Stryker Corporation has a one year low of $267.00 and a one year high of $389.33.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, October 29th. The medical technology company reported $3.52 earnings per share for the quarter, missing analysts’ consensus estimates of $3.55 by ($0.03). The business had revenue of $6.52 billion for the quarter, compared to analyst estimates of $6.62 billion. Stryker had a return on equity of 23.74% and a net margin of 13.78%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.19 EPS. Sell-side analysts expect that Stryker Corporation will post 14.85 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on SYK shares. Argus set a $370.00 price target on Stryker in a research report on Thursday, July 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Stryker in a research report on Thursday, October 29th. BTIG Research lowered their price objective on shares of Stryker from $316.00 to $304.00 and set a “buy” rating on the stock in a research note on Friday, October 30th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Stryker in a research report on Wednesday, October 7th. Finally, Leerink Partners dropped their target price on shares of Stryker from $403.00 to $353.00 and set an “outperform” rating on the stock in a research report on Friday, October 9th. Twenty-one research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $343.73.

Insider Activity

In other news, Director Ronda Stryker sold 300,000 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $335.90, for a total transaction of $100,770,000.00. Following the completion of the transaction, the director directly owned 2,301,375 shares of the company’s stock, valued at approximately $773,031,862.50. This trade represents a 11.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Debra King sold 826 shares of Stryker stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total transaction of $277,783.80. Following the sale, the insider owned 6,210 shares in the company, valued at approximately $2,088,423. This trade represents a 11.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 351,267 shares of company stock worth $118,197,701. 4.60% of the stock is currently owned by corporate insiders.

Stryker Company Profile

Stryker Corporation (NYSE: SYK) is a global medical technology company that develops and manufactures products used by healthcare providers in hospitals, surgical centers and other clinical settings. Its offerings are designed to support orthopaedic procedures, surgery, emergency care, neurovascular treatment and patient handling.

The company’s product portfolio includes orthopaedic implants and instruments, products for trauma and spine procedures, surgical equipment, endoscopy systems, patient beds and stretchers, emergency medical equipment, and neurovascular devices used in the treatment of conditions such as stroke.