Stryker Corporation $SYK Stock: Moors & Cabot Inc. Boosts Position

Moors & Cabot Inc. lifted its holdings in shares of Stryker Corporation (NYSE:SYK) by 28.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,524 shares of the medical technology company’s stock after purchasing an additional 2,539 shares during the quarter. Moors & Cabot Inc.’s holdings in Stryker were worth $3,174,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of SYK. Gables Capital Management Inc. purchased a new position in Stryker during the second quarter worth about $25,000. Kilter Group LLC purchased a new stake in shares of Stryker in the 2nd quarter valued at approximately $25,000. Highland Investment Advisors LLC acquired a new position in shares of Stryker in the 2nd quarter worth approximately $25,000. Cornerstone Financial Management LLC boosted its position in shares of Stryker by 66.0% during the 2nd quarter. Cornerstone Financial Management LLC now owns 78 shares of the medical technology company’s stock worth $25,000 after purchasing an additional 31 shares during the period. Finally, Compass Financial Management LLC purchased a new position in shares of Stryker during the 2nd quarter worth approximately $27,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Stock Performance

Shares of NYSE SYK traded down $3.34 during trading hours on Friday, reaching $309.05. The stock had a trading volume of 3,251,740 shares, compared to its average volume of 3,235,306. The firm has a 50-day moving average of $292.30 and a 200-day moving average of $322.60. Stryker Corporation has a fifty-two week low of $267.00 and a fifty-two week high of $389.33. The firm has a market cap of $117.65 billion, a price-to-earnings ratio of 32.91, a PEG ratio of 2.14 and a beta of 0.78. 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 (NYSE:SYK) last released its quarterly earnings results 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). Stryker had a return on equity of 23.74% and a net margin of 13.78%. The company had revenue of $6.52 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the prior year, the business earned $3.19 EPS. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. Equities research analysts predict that Stryker Corporation will post 14.85 earnings per share for the current year.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 550,000 shares of Stryker stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $325.32, for a total value of $178,926,000.00. Following the completion of the sale, the director directly owned 1,701,375 shares of the company’s stock, valued at approximately $553,491,315. The trade was a 24.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dylan Crotty sold 441 shares of Stryker stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $328.61, for a total value of $144,917.01. Following the completion of the sale, the insider owned 6,102 shares of the company’s stock, valued at $2,005,178.22. This trade represents a 6.74% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 901,267 shares of company stock valued at $297,123,701. 4.60% of the stock is owned by insiders.

Analyst Ratings Changes

SYK has been the topic of a number of research analyst reports. Deutsche Bank cut their target price on Stryker from $315.00 to $275.00 and set a “hold” rating on the stock in a research report on Friday, October 30th. Leerink Partners lowered their price target on Stryker from $403.00 to $353.00 and set an “outperform” rating for the company in a research report on Friday, October 9th. Evercore boosted their price objective on Stryker from $335.00 to $355.00 in a report on Wednesday, October 28th. Citigroup reissued a “market outperform” rating on shares of Stryker in a research note on Friday, October 30th. Finally, TD Cowen lowered their target price on Stryker from $298.00 to $290.00 and set a “hold” rating for the company in a report on Friday, October 30th. Twenty-one equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $342.19.

Stryker 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.