Stryker Corporation $SYK Shares Newly Purchased by Waycross Partners LLC

Waycross Partners LLC bought a new position in shares of Stryker Corporation (NYSE:SYK) in the 3rd quarter, HoldingsChannel reports. The fund bought 101,131 shares of the medical technology company’s stock, valued at approximately $27,850,000. Stryker comprises approximately 2.2% of Waycross Partners LLC’s investment portfolio, making the stock its 22nd largest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in SYK. Alps Advisors Inc. raised its stake in shares of Stryker by 97.9% in the third quarter. Alps Advisors Inc. now owns 16,519 shares of the medical technology company’s stock worth $4,549,000 after purchasing an additional 8,173 shares during the last quarter. CenterBook Partners LP boosted its position in shares of Stryker by 129.5% during the third quarter. CenterBook Partners LP now owns 1,928 shares of the medical technology company’s stock valued at $531,000 after buying an additional 1,088 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Stryker by 2.1% during the third quarter. International Assets Investment Management LLC now owns 1,666 shares of the medical technology company’s stock valued at $455,000 after buying an additional 35 shares during the last quarter. Waldron Private Wealth LLC grew its holdings in Stryker by 0.4% during the third quarter. Waldron Private Wealth LLC now owns 72,047 shares of the medical technology company’s stock worth $19,841,000 after buying an additional 277 shares in the last quarter. Finally, Alta Advisers Ltd grew its holdings in Stryker by 86.8% during the third quarter. Alta Advisers Ltd now owns 2,486 shares of the medical technology company’s stock worth $685,000 after buying an additional 1,155 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on SYK. Stifel Nicolaus lowered their price target on Stryker from $330.00 to $325.00 and set a “buy” rating for the company in a research report on Monday. Wells Fargo & Company cut their price objective on shares of Stryker from $418.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, September 9th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Stryker in a research note on Wednesday, October 7th. Barclays lowered their target price on shares of Stryker from $375.00 to $365.00 and set an “overweight” rating for the company in a report on Friday, October 30th. Finally, Leerink Partners dropped their price target on shares of Stryker from $403.00 to $353.00 and set an “outperform” rating on the stock in a research report on Friday, October 9th. Twenty-one analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $343.73.

Stryker Stock Performance

Shares of NYSE:SYK traded down $9.81 during midday trading on Friday, reaching $325.26. The company had a trading volume of 3,778,566 shares, compared to its average volume of 2,751,012. The stock has a market cap of $123.83 billion, a P/E ratio of 34.64, a P/E/G ratio of 2.11 and a beta of 0.78. The company’s 50 day moving average price is $292.37 and its 200 day moving average price is $323.59. The company has a current ratio of 2.18, a quick ratio of 1.30 and a debt-to-equity ratio of 0.60. Stryker Corporation has a 52-week low of $267.00 and a 52-week high of $389.33.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, October 29th. The medical technology company reported $3.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.55 by ($0.03). The company had revenue of $6.52 billion for the quarter, compared to analysts’ expectations of $6.62 billion. Stryker had a return on equity of 23.74% and a net margin of 13.78%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the business posted $3.19 EPS. As a group, sell-side analysts anticipate that Stryker Corporation will post 14.84 EPS for the current fiscal year.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $340.10, for a total value of $17,005,000.00. Following the transaction, the director owned 2,251,375 shares in the company, valued at approximately $765,692,637.50. This represents a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Debra King sold 826 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total value of $277,783.80. Following the transaction, the insider directly owned 6,210 shares of the company’s stock, valued at approximately $2,088,423. This trade represents a 11.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 351,267 shares of company stock worth $118,197,701 in the last quarter. Insiders own 4.60% of the company’s stock.

Stryker Company Profile

Stryker is a medical technology company that develops and sells products and services for healthcare providers. Its offerings include orthopedic implants and surgical equipment, neurotechnology and spine products, and medical and surgical equipment used in hospitals and other care settings.

The company’s products also include patient-handling and emergency medical equipment, as well as instruments and technologies that support surgical procedures. Stryker serves healthcare customers in the United States and internationally.

Founded in 1941 by orthopedic surgeon Dr.