Public Sector Pension Investment Board Acquires 195,310 Shares of Stryker Co. (NYSE:SYK)

Public Sector Pension Investment Board raised its holdings in Stryker Co. (NYSE:SYK) by 1,552.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 207,889 shares of the medical technology company’s stock after purchasing an additional 195,310 shares during the quarter. Public Sector Pension Investment Board owned 0.05% of Stryker worth $75,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in SYK. Avestar Capital LLC grew its position in Stryker by 1.1% during the third quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock valued at $1,065,000 after acquiring an additional 31 shares during the last quarter. Patrick M Sweeney & Associates Inc. grew its holdings in shares of Stryker by 1.5% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock valued at $793,000 after purchasing an additional 32 shares during the last quarter. Versant Capital Management Inc raised its position in Stryker by 4.0% in the 2nd quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock worth $294,000 after purchasing an additional 33 shares during the period. Stanley Laman Group Ltd. lifted its stake in Stryker by 4.6% in the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after purchasing an additional 33 shares during the last quarter. Finally, Plimoth Trust Co. LLC boosted its position in Stryker by 0.3% during the second quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock valued at $3,224,000 after buying an additional 33 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Stifel Nicolaus decreased their price objective on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. BTIG Research lifted their price target on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Truist Financial increased their price objective on Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Barclays lifted their target price on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, Evercore ISI increased their price target on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Insider Activity at Stryker

In other news, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,715,540. The trade was a 17.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was 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 owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. 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 three months. Company insiders own 5.90% of the company’s stock.

Stryker Stock Down 0.4 %

Shares of NYSE:SYK opened at $388.14 on Thursday. The firm has a market capitalization of $147.97 billion, a P/E ratio of 41.60, a P/E/G ratio of 2.94 and a beta of 0.91. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The stock has a 50 day moving average price of $367.50 and a 200-day moving average price of $350.68. Stryker Co. has a 52-week low of $285.79 and a 52-week high of $398.20.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) 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 business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the prior year, the company earned $2.46 earnings per share. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Stryker Co. will post 12.06 EPS for the current fiscal year.

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.