Stryker Co. (NYSE:SYK) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. grew its position in Stryker Co. (NYSE:SYK) by 5.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 163,822 shares of the medical technology company’s stock after acquiring an additional 8,745 shares during the quarter. Victory Capital Management Inc.’s holdings in Stryker were worth $59,182,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Centennial Bank AR boosted its stake in Stryker by 106.7% during the 2nd 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. HBW Advisory Services LLC acquired a new stake in shares of Stryker during the third quarter worth about $42,000. Hara Capital LLC purchased a new position in shares of Stryker during the third quarter worth about $42,000. Grove Bank & Trust increased its position in Stryker by 84.8% in the 3rd 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. Finally, DT Investment Partners LLC raised its stake in Stryker by 114.3% during the 3rd quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock valued at $49,000 after acquiring an additional 72 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related 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 sale, the insider now owns 9,069 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of the business’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 completion of the transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at $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 have sold 67,381 shares of company stock worth $24,825,275 over the last three months. 5.90% of the stock is currently owned by corporate insiders.

Stryker Stock Performance

Shares of SYK opened at $383.28 on Friday. Stryker Co. has a 12-month low of $282.35 and a 12-month high of $392.70. The stock has a market cap of $146.11 billion, a P/E ratio of 41.08, a PEG ratio of 2.92 and a beta of 0.91. 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 company has a 50-day moving average of $362.94 and a two-hundred day moving average of $346.72.

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SYK. JPMorgan Chase & Co. boosted their target price on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Barclays boosted their price objective on shares of Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Wolfe Research began coverage on shares of Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price for the company. Needham & Company LLC increased their price target on shares of Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Evercore ISI raised their price objective 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. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $393.65.

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.