Eagle Asset Management Inc. Buys 1,647 Shares of Stryker Co. (NYSE:SYK)

Eagle Asset Management Inc. lifted its position in Stryker Co. (NYSE:SYK) by 7.4% during the third quarter, HoldingsChannel.com reports. The fund owned 23,856 shares of the medical technology company’s stock after purchasing an additional 1,647 shares during the period. Eagle Asset Management Inc.’s holdings in Stryker were worth $8,969,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Centennial Bank AR raised its holdings in Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC acquired a new stake in Stryker during the 3rd quarter worth $36,000. HBW Advisory Services LLC acquired a new stake in Stryker during the 3rd quarter worth $42,000. Hara Capital LLC acquired a new position in Stryker in the third quarter valued at about $42,000. Finally, Grove Bank & Trust grew 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 period. Institutional investors own 77.09% of the company’s stock.

Insider Activity at Stryker

In other Stryker news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. This trade represents a 6.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the transaction, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. The trade was a 17.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,381 shares of company stock worth $24,825,275. Company insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SYK. Needham & Company LLC lifted their price objective on Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a research note on Friday. Evercore ISI raised their price objective on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Royal Bank of Canada upped their target price on shares of Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Barclays increased their target price on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Stock Performance

Shares of SYK opened at $384.85 on Friday. The company has a market cap of $146.71 billion, a PE ratio of 41.25, a price-to-earnings-growth ratio of 2.90 and a beta of 0.91. The firm has a 50-day moving average of $366.20 and a 200-day moving average of $349.48. Stryker Co. has a one year low of $285.79 and a one year high of $398.20. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the previous year, the business earned $2.46 earnings per share. The business’s revenue was up 11.9% compared to the same quarter last year. As a group, equities analysts forecast that Stryker Co. will post 12.06 earnings per share for the current year.

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.