Stryker Corporation $SYK Stock Bought by Lido Advisors LLC

Lido Advisors LLC raised its stake in Stryker Corporation (NYSE:SYK) by 4.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 48,866 shares of the medical technology company’s stock after purchasing an additional 2,010 shares during the quarter. Lido Advisors LLC’s holdings in Stryker were worth $13,457,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SYK. International Assets Investment Management LLC grew its position in Stryker by 1,432.8% in the 3rd quarter. International Assets Investment Management LLC now owns 25,000 shares of the medical technology company’s stock valued at $6,885,000 after buying an additional 23,369 shares during the last quarter. Amundi increased its stake in Stryker by 18.3% in the 2nd quarter. Amundi now owns 1,246,353 shares of the medical technology company’s stock valued at $392,402,000 after buying an additional 192,447 shares during the period. The Manufacturers Life Insurance Company raised its position in Stryker by 8.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 859,544 shares of the medical technology company’s stock worth $270,642,000 after buying an additional 65,333 shares during the last quarter. Veritas Asset Management LLP purchased a new position in Stryker during the 2nd quarter worth $168,057,000. Finally, Bank of America Corp DE purchased a new position in Stryker during the 2nd quarter worth $1,404,284,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Trading Down 1.7%

Shares of SYK stock opened at $318.67 on Thursday. The business’s fifty day moving average price is $292.27 and its 200 day moving average price is $323.05. The firm has a market capitalization of $121.31 billion, a PE ratio of 33.94, a P/E/G ratio of 2.23 and a beta of 0.78. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.18 and a quick ratio of 1.30. Stryker Corporation has a 1-year low of $267.00 and a 1-year high of $389.33.

Stryker (NYSE:SYK) last released its earnings results on Thursday, October 29th. The medical technology company reported $3.52 EPS for the quarter, missing analysts’ consensus estimates of $3.55 by ($0.03). The business had revenue of $6.52 billion during the quarter, compared to analyst estimates of $6.62 billion. Stryker had a net margin of 13.78% and a return on equity of 23.74%. Stryker’s revenue was up 7.6% compared to the same quarter last year. During the same period last year, the business posted $3.19 EPS. As a group, sell-side analysts forecast that Stryker Corporation will post 14.85 EPS for the current fiscal year.

Insider Transactions at Stryker

In other news, insider Debra King sold 826 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total value of $277,783.80. Following the completion of the transaction, the insider owned 6,210 shares in the company, valued at $2,088,423. This trade represents a 11.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronda Stryker sold 550,000 shares of the stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $325.32, for a total transaction of $178,926,000.00. Following the completion of the transaction, the director owned 1,701,375 shares of the company’s stock, valued at $553,491,315. This represents a 24.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 901,267 shares of company stock valued at $297,123,701 in the last ninety days. 4.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SYK has been the subject of several recent analyst reports. TD Cowen reduced their target price on shares of Stryker from $298.00 to $290.00 and set a “hold” rating for the company in a research note on Friday, October 30th. Leerink Partners dropped their price target on shares of Stryker from $403.00 to $353.00 and set an “outperform” rating on the stock in a research note on Friday, October 9th. Stifel Nicolaus cut their price target on shares of Stryker from $330.00 to $325.00 and set a “buy” rating for the company in a report on Monday, November 2nd. BTIG Research reduced their price objective on shares of Stryker from $316.00 to $304.00 and set a “buy” rating for the company in a research report on Friday, October 30th. Finally, UBS Group lowered their price objective on Stryker from $400.00 to $382.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Twenty-one investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $342.19.

Stryker Company Profile

Stryker is a medical technology company that develops and sells products and services for healthcare providers. Its offerings include orthopedic implants and surgical equipment, neurotechnology and spine products, and medical and surgical equipment used in hospitals and other care settings. The company’s products also include patient-handling and emergency medical equipment, as well as instruments and technologies that support surgical procedures. Stryker serves healthcare customers in the United States and internationally.