Machina Capital S.A.S. Makes New Investment in Stryker Corporation $SYK

Machina Capital S.A.S. bought a new position in shares of Stryker Corporation (NYSE:SYK) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 9,770 shares of the medical technology company’s stock, valued at approximately $2,691,000.

Other large investors have also modified their holdings of the company. Gables Capital Management Inc. acquired a new stake in shares of Stryker in the second quarter valued at about $25,000. Kilter Group LLC purchased a new position in shares of Stryker in the second quarter worth about $25,000. Cornerstone Financial Management LLC lifted its stake in shares of Stryker by 66.0% in the second quarter. Cornerstone Financial Management LLC now owns 78 shares of the medical technology company’s stock worth $25,000 after buying an additional 31 shares in the last quarter. Highland Investment Advisors LLC purchased a new position in shares of Stryker in the second quarter worth about $25,000. Finally, Compass Financial Management LLC acquired a new position in Stryker during the second quarter worth about $27,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SYK shares. Citizens Jmp dropped their price objective on shares of Stryker from $400.00 to $390.00 and set a “market outperform” rating for the company in a research note on Friday, October 30th. Needham & Company LLC cut their price objective on shares of Stryker from $418.00 to $359.00 and set a “buy” rating for the company in a report on Friday, October 30th. BMO Capital Markets reissued an “outperform” rating and issued a $309.00 target price (down from $317.00) on shares of Stryker in a research note on Friday, October 30th. Wolfe Research cut Stryker from an “outperform” rating to a “peer perform” rating in a report on Thursday, August 13th. Finally, Truist Financial restated a “hold” rating and issued a $305.00 price target (down from $310.00) on shares of Stryker in a research report on Monday, November 2nd. Twenty-one investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $342.19.

Stryker Stock Down 1.7%

Shares of SYK opened at $318.67 on Thursday. Stryker Corporation has a 52-week low of $267.00 and a 52-week high of $389.33. The company has a quick ratio of 1.30, a current ratio of 2.18 and a debt-to-equity ratio of 0.60. The stock has a fifty day simple moving average of $292.27 and a two-hundred day simple moving average of $323.05. The company has a market capitalization of $121.31 billion, a PE ratio of 33.94, a price-to-earnings-growth ratio of 2.23 and a beta of 0.78.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, October 29th. The medical technology company reported $3.52 earnings per share for the quarter, missing the consensus estimate of $3.55 by ($0.03). The firm had revenue of $6.52 billion for 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%. The company’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.19 EPS. As a group, equities analysts forecast that Stryker Corporation will post 14.85 EPS for the current year.

Insider Buying and Selling

In related news, Director Ronda Stryker sold 550,000 shares of the firm’s 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 sale, the director directly owned 1,701,375 shares in the company, valued at approximately $553,491,315. This trade represents a 24.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Debra King sold 826 shares of Stryker stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $336.30, for a total transaction of $277,783.80. Following the transaction, the insider directly owned 6,210 shares in the company, valued at $2,088,423. This trade represents a 11.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 901,267 shares of company stock worth $297,123,701. Insiders own 4.60% of the company’s stock.

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.