First Merchants Corp Has $8.56 Million Holdings in Stryker Corporation (SYK)
First Merchants Corp raised its position in shares of Stryker Corporation (NYSE:SYK) by 113.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,293 shares of the medical technology company’s stock after buying an additional 32,027 shares during the quarter. Stryker Corporation accounts for 1.5% of First Merchants Corp’s portfolio, making the stock its 14th largest position. First Merchants Corp’s holdings in Stryker Corporation were worth $8,563,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of SYK. Acrospire Investment Management LLC purchased a new stake in shares of Stryker Corporation in the second quarter worth approximately $111,000. Bollard Group LLC lifted its position in shares of Stryker Corporation by 0.4% in the second quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock worth $115,000 after purchasing an additional 3 shares in the last quarter. Motco lifted its position in shares of Stryker Corporation by 50.7% in the second quarter. Motco now owns 826 shares of the medical technology company’s stock worth $115,000 after purchasing an additional 278 shares in the last quarter. Bruderman Asset Management LLC purchased a new stake in shares of Stryker Corporation in the second quarter worth approximately $150,000. Finally, James Investment Research Inc. bought a new position in Stryker Corporation during the second quarter valued at approximately $155,000. 74.13% of the stock is owned by institutional investors.
Stryker Corporation (SYK) opened at $156.27 on Monday. The stock has a market capitalization of $58,448.43, a price-to-earnings ratio of 24.75, a price-to-earnings-growth ratio of 2.46 and a beta of 0.79. Stryker Corporation has a twelve month low of $106.48 and a twelve month high of $160.62. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.61 and a current ratio of 2.37.
Stryker Corporation (NYSE:SYK) last issued its quarterly earnings data on Thursday, October 26th. The medical technology company reported $1.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.50 by $0.02. Stryker Corporation had a return on equity of 24.11% and a net margin of 14.67%. The company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same period last year, the business earned $1.39 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. equities research analysts anticipate that Stryker Corporation will post 6.47 EPS for the current year.
In related news, insider Graham A. Mclean sold 1,124 shares of Stryker Corporation stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $146.26, for a total value of $164,396.24. Following the completion of the transaction, the insider now directly owns 8,983 shares of the company’s stock, valued at $1,313,853.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 7.40% of the company’s stock.
Several equities analysts recently weighed in on SYK shares. Morgan Stanley reaffirmed an “overweight” rating and set a $160.00 price objective (up previously from $155.00) on shares of Stryker Corporation in a research report on Monday, July 10th. BMO Capital Markets reaffirmed a “hold” rating and set a $140.00 price objective on shares of Stryker Corporation in a research report on Tuesday, July 11th. Zacks Investment Research raised shares of Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 price objective on the stock in a research report on Monday, July 17th. Royal Bank Of Canada raised their price objective on shares of Stryker Corporation from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, July 28th. Finally, Oppenheimer Holdings, Inc. set a $148.00 price objective on shares of Stryker Corporation and gave the company a “hold” rating in a research report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $151.52.
Stryker Corporation Company Profile
Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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