Avestar Capital LLC Buys 31 Shares of Stryker Co. (NYSE:SYK)

Avestar Capital LLC increased its stake in shares of Stryker Co. (NYSE:SYK) by 1.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,948 shares of the medical technology company’s stock after acquiring an additional 31 shares during the period. Avestar Capital LLC’s holdings in Stryker were worth $1,065,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of SYK. Centennial Bank AR grew its holdings in Stryker by 106.7% during 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 bought a new position in shares of Stryker during the 3rd quarter worth approximately $36,000. HBW Advisory Services LLC acquired a new position in shares of Stryker during the 3rd quarter worth approximately $42,000. Hara Capital LLC bought a new stake in Stryker in the 3rd quarter valued at $42,000. Finally, Grove Bank & Trust lifted its holdings in Stryker by 84.8% during the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after purchasing an additional 56 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Price Performance

Shares of NYSE:SYK opened at $389.71 on Wednesday. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $148.57 billion, a PE ratio of 41.77, a PEG ratio of 2.90 and a beta of 0.91. The firm has a 50 day moving average of $366.97 and a 200-day moving average of $350.42. Stryker Co. has a 12 month low of $285.79 and a 12 month high of $398.20.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the prior year, the company earned $2.46 earnings per share. The company’s quarterly revenue was up 11.9% on a year-over-year basis. On average, equities research analysts predict that Stryker Co. will post 12.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SYK shares. JPMorgan Chase & Co. increased their price objective on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Stifel Nicolaus lowered their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Royal Bank of Canada raised their price objective on shares of Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $420.00 target price (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group increased their target price on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $393.65.

Insider Activity at Stryker

In other news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. This represents a 17.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,781 shares of company stock valued at $24,612,275 over the last ninety days. 5.50% of the stock is owned by corporate insiders.

Stryker Profile

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.