Rockefeller Capital Management L.P. Buys 3,358 Shares of Stryker Co. (NYSE:SYK)

Rockefeller Capital Management L.P. increased its stake in shares of Stryker Co. (NYSE:SYK) by 6.6% during the third quarter, HoldingsChannel reports. The fund owned 54,564 shares of the medical technology company’s stock after acquiring an additional 3,358 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Stryker were worth $19,712,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of SYK. FMR LLC increased its holdings in Stryker by 3.0% in the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after buying an additional 215,782 shares during the period. Clearbridge Investments LLC increased its holdings in Stryker by 2.9% in the 2nd quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock valued at $790,554,000 after buying an additional 66,482 shares during the period. Parnassus Investments LLC bought a new stake in Stryker in the 3rd quarter valued at $762,798,000. Charles Schwab Investment Management Inc. increased its holdings in Stryker by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,936,226 shares of the medical technology company’s stock valued at $699,481,000 after buying an additional 37,000 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Stryker by 4.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,745,971 shares of the medical technology company’s stock valued at $630,749,000 after buying an additional 74,224 shares during the period. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

Stryker stock opened at $392.15 on Monday. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. Stryker Co. has a 1 year low of $285.79 and a 1 year high of $398.20. The company has a market cap of $149.50 billion, a PE ratio of 42.03, a PEG ratio of 2.96 and a beta of 0.91. The company’s 50-day moving average is $368.51 and its two-hundred day moving average is $351.74.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company’s revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.46 EPS. Equities analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SYK. Piper Sandler restated an “overweight” rating and issued a $420.00 target price (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Citigroup boosted their target price on shares of Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Truist Financial boosted their target price on shares of Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Evercore ISI boosted their target price on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada boosted their target price on shares of Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $393.65.

Insider Activity

In other news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,715,540. This represents a 17.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,781 shares of company stock valued at $24,612,275 in the last ninety days. 5.90% of the stock is owned by insiders.

Stryker Company 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.