Raymond James Trust N.A. Grows Position in Stryker Co. (NYSE:SYK)

Raymond James Trust N.A. increased its position in Stryker Co. (NYSE:SYK) by 3.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 31,525 shares of the medical technology company’s stock after purchasing an additional 1,129 shares during the period. Raymond James Trust N.A.’s holdings in Stryker were worth $11,389,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SYK. CreativeOne Wealth LLC lifted its holdings in shares of Stryker by 55.7% during the first quarter. CreativeOne Wealth LLC now owns 1,924 shares of the medical technology company’s stock valued at $688,000 after purchasing an additional 688 shares during the last quarter. Axxcess Wealth Management LLC raised its stake in Stryker by 2.9% during the first quarter. Axxcess Wealth Management LLC now owns 5,074 shares of the medical technology company’s stock valued at $1,816,000 after buying an additional 143 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in Stryker by 19.4% in the first quarter. Canada Pension Plan Investment Board now owns 458,277 shares of the medical technology company’s stock worth $164,004,000 after acquiring an additional 74,471 shares in the last quarter. Gamco Investors INC. ET AL bought a new position in shares of Stryker during the first quarter valued at $5,034,000. Finally, Gabelli Funds LLC increased its holdings in shares of Stryker by 99.2% during the first quarter. Gabelli Funds LLC now owns 82,459 shares of the medical technology company’s stock valued at $29,510,000 after acquiring an additional 41,059 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Insiders Place Their Bets

In other news, VP M Kathryn Fink sold 2,121 shares of the firm’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 sale, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. This trade represents a 17.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,381 shares of company stock worth $24,825,275 over the last quarter. 5.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SYK has been the topic of several recent analyst reports. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research report on Friday. Wolfe Research began coverage on shares of Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price target for the company. Truist Financial boosted their price objective on shares of Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. UBS Group lifted their target price on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Needham & Company LLC upped their price target on Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Stock Performance

Shares of NYSE SYK opened at $389.88 on Friday. Stryker Co. has a 12-month low of $285.79 and a 12-month high of $398.20. The firm has a market capitalization of $148.63 billion, a price-to-earnings ratio of 41.79, a price-to-earnings-growth ratio of 2.93 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 firm has a 50 day moving average of $365.91 and a 200 day moving average of $348.95.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS 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 analyst estimates of $5.37 billion. During the same period in the prior year, the business posted $2.46 EPS. Stryker’s revenue was up 11.9% on a year-over-year basis. On average, research analysts anticipate 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.