Today, Bristlecone Advisors LLC Buys New Stake in Stryker Corp. (SYK)

Today, Bristlecone Advisors LLC Buys New Stake in Stryker Corp. (SYK)
Bristlecone Advisors LLC purchased a new position in shares of Stryker Corp. (NYSE:SYK) during the third quarter, according to its most recent filing with the SEC. The fund purchased 4,082 shares of the medical technology company’s stock, valued at approximately $475,000.

Several other large investors have also recently bought and sold shares of the stock. Capital Research Global Investors increased its position in shares of Stryker Corp. by 3.4% in the second quarter. Capital Research Global Investors now owns 32,980,782 shares of the medical technology company’s stock worth $3,952,087,000 after buying an additional 1,095,549 shares during the period. Vanguard Group Inc. increased its position in shares of Stryker Corp. by 1.9% in the second quarter. Vanguard Group Inc. now owns 21,428,963 shares of the medical technology company’s stock worth $2,567,833,000 after buying an additional 397,336 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Stryker Corp. by 2.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 11,990,001 shares of the medical technology company’s stock worth $1,436,761,000 after buying an additional 328,431 shares during the period. BlackRock Fund Advisors increased its position in shares of Stryker Corp. by 20.1% in the second quarter. BlackRock Fund Advisors now owns 6,280,516 shares of the medical technology company’s stock worth $752,594,000 after buying an additional 1,051,648 shares during the period. Finally, FMR LLC increased its position in shares of Stryker Corp. by 12.6% in the second quarter. FMR LLC now owns 4,156,578 shares of the medical technology company’s stock worth $498,082,000 after buying an additional 466,411 shares during the period. Hedge funds and other institutional investors own 73.55% of the company’s stock.

Stryker Corp. (NYSE:SYK) traded up 0.98% during midday trading on Friday, hitting $112.84. 559,305 shares of the stock traded hands. Stryker Corp. has a 52-week low of $86.68 and a 52-week high of $123.55. The firm has a market cap of $42.25 billion, a PE ratio of 25.68 and a beta of 0.86. The stock has a 50-day moving average of $113.60 and a 200 day moving average of $115.00.

Stryker Corp. (NYSE:SYK) last posted its earnings results on Thursday, October 27th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.02. Stryker Corp. had a net margin of 15.24% and a return on equity of 23.61%. The firm earned $2.83 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same period in the previous year, the business posted $1.25 EPS. The business’s revenue was up 17.1% compared to the same quarter last year. Equities analysts forecast that Stryker Corp. will post $5.78 EPS for the current year.

SYK has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Stryker Corp. from a “sell” rating to a “hold” rating and set a $129.00 price objective on the stock in a research report on Monday, October 31st. BMO Capital Markets upgraded shares of Stryker Corp. from an “underperform” rating to a “market perform” rating and set a $125.00 price target on the stock in a research report on Tuesday, November 1st. They noted that the move was a valuation call. SunTrust Banks Inc. began coverage on shares of Stryker Corp. in a research report on Thursday, October 13th. They issued a “buy” rating and a $140.00 price target on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Stryker Corp. in a research report on Sunday, November 13th. Finally, Canaccord Genuity set a $127.00 price target on shares of Stryker Corp. and gave the stock a “buy” rating in a research report on Sunday, October 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $122.38.

In other Stryker Corp. news, Chairman Kevin Lobo sold 26,306 shares of the company’s stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $115.74, for a total transaction of $3,044,656.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronda E. Stryker sold 12,000 shares of the company’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $118.22, for a total transaction of $1,418,640.00. Following the transaction, the director now owns 193,142 shares of the company’s stock, valued at $22,833,247.24. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by corporate insiders.

Stryker Corp. Company Profile

Stryker Corporation (Stryker) is a medical technology company. The Company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Company’s Orthopaedics segment products consist of implants used in hip and knee joint replacements and trauma and surgeries. The Company’s MedSurg segment products consist of surgical equipment and surgical navigation systems (Instruments); endoscopic and communications systems (Endoscopy); patient handling and emergency medical equipment (Medical), and reprocessed and remanufactured medical devices (Sustainability), as well as other medical device products used in a range of medical specialties.

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