SouthState Corp Has $6.33 Million Stock Holdings in Stryker Co. (NYSE:SYK)

SouthState Corp boosted its stake in Stryker Co. (NYSE:SYK) by 16.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,509 shares of the medical technology company’s stock after buying an additional 2,492 shares during the quarter. SouthState Corp’s holdings in Stryker were worth $6,325,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its stake in Stryker by 78.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock valued at $45,260,000 after purchasing an additional 58,673 shares in the last quarter. OFI Invest Asset Management raised its position in Stryker by 3,210.9% during the second quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company’s stock valued at $1,062,000 after acquiring an additional 3,243 shares in the last quarter. Tidal Investments LLC lifted its stake in Stryker by 14.2% in the first quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company’s stock valued at $4,853,000 after acquiring an additional 1,681 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Stryker by 2.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company’s stock worth $210,289,000 after purchasing an additional 16,504 shares during the last quarter. Finally, Fiera Capital Corp raised its holdings in shares of Stryker by 42.1% during the 2nd quarter. Fiera Capital Corp now owns 16,713 shares of the medical technology company’s stock valued at $5,687,000 after purchasing an additional 4,948 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Stifel Nicolaus lowered 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 boosted their target price on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Finally, Citigroup boosted their price objective on shares of Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $393.65.

Insider Activity

In other Stryker news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares in the company, valued at $3,219,495. This trade represents a 6.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction that occurred on Friday, September 13th. The shares were 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 in the company, valued at $3,715,540. The trade was a 17.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,381 shares of company stock worth $24,825,275. Corporate insiders own 5.50% of the company’s stock.

Stryker Trading Down 0.2 %

Stryker stock opened at $389.40 on Tuesday. The business has a 50 day moving average price of $364.61 and a two-hundred day moving average price of $347.98. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker Co. has a 12 month low of $285.79 and a 12 month high of $398.20. The stock has a market cap of $148.45 billion, a price-to-earnings ratio of 41.74, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91.

Stryker (NYSE:SYK) last issued its earnings results 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. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. Stryker’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the business earned $2.46 earnings per share. As a group, equities analysts forecast that Stryker Co. will post 12.06 EPS 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.