Welch & Forbes LLC Purchases 519,163 Shares of Stryker Corporation $SYK

Welch & Forbes LLC purchased a new stake in shares of Stryker Corporation (NYSE:SYK) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 519,163 shares of the medical technology company’s stock, valued at approximately $142,973,000. Stryker accounts for approximately 1.7% of Welch & Forbes LLC’s holdings, making the stock its 14th largest position.

Several other institutional investors also recently modified their holdings of SYK. Gables Capital Management Inc. bought a new stake in Stryker in the 2nd quarter worth about $25,000. Kilter Group LLC purchased a new position in Stryker in the 2nd quarter worth about $25,000. Cornerstone Financial Management LLC lifted its stake in Stryker by 66.0% during the 2nd quarter. Cornerstone Financial Management LLC now owns 78 shares of the medical technology company’s stock valued at $25,000 after acquiring an additional 31 shares during the period. Highland Investment Advisors LLC purchased a new stake in shares of Stryker during the 2nd quarter valued at about $25,000. Finally, Compass Financial Management LLC purchased a new stake in shares of Stryker during the 2nd quarter valued at about $27,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 550,000 shares of the business’s stock in a transaction that occurred on 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 sale, the director directly owned 1,701,375 shares in the company, valued at approximately $553,491,315. The trade was a 24.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Dylan Crotty sold 441 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $328.61, for a total transaction of $144,917.01. Following the sale, the insider directly owned 6,102 shares of the company’s stock, valued at approximately $2,005,178.22. This represents a 6.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 901,267 shares of company stock worth $297,123,701 in the last quarter. Company insiders own 4.60% of the company’s stock.

Stryker Stock Down 0.1%

Stryker stock opened at $325.69 on Tuesday. Stryker Corporation has a one year low of $267.00 and a one year high of $389.33. The stock has a fifty day moving average of $292.26 and a 200 day moving average of $323.41. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.30 and a current ratio of 2.18. The stock has a market cap of $123.99 billion, a PE ratio of 34.69, a price-to-earnings-growth ratio of 2.33 and a beta of 0.78.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, October 29th. The medical technology company reported $3.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.55 by ($0.03). The firm had revenue of $6.52 billion during the quarter, compared to analysts’ expectations of $6.62 billion. Stryker had a return on equity of 23.74% and a net margin of 13.78%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $3.19 earnings per share. As a group, sell-side analysts predict that Stryker Corporation will post 14.84 EPS for the current year.

Analysts Set New Price Targets

SYK has been the subject of a number of research analyst reports. BTIG Research reduced their price target on shares of Stryker from $316.00 to $304.00 and set a “buy” rating for the company in a research note on Friday, October 30th. Canaccord Genuity Group downgraded shares of Stryker from a “buy” rating to a “hold” rating and lowered their price objective for the company from $385.00 to $300.00 in a research report on Friday, October 30th. Robert W. Baird lowered their price objective on shares of Stryker from $385.00 to $334.00 in a research report on Friday, October 30th. Needham & Company LLC dropped their target price on shares of Stryker from $418.00 to $359.00 and set a “buy” rating on the stock in a report on Friday, October 30th. Finally, Barclays cut their target price on shares of Stryker from $375.00 to $365.00 and set an “overweight” rating for the company in a research report on Friday, October 30th. Twenty-one analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $342.19.

About Stryker

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.

Founded in 1941 by orthopedic surgeon Dr.