Fulcrum Asset Management LLP Purchases 2,644 Shares of Stryker Corporation $SYK

Fulcrum Asset Management LLP purchased a new stake in Stryker Corporation (NYSE:SYK) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 2,644 shares of the medical technology company’s stock, valued at approximately $737,000.

A number of other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC lifted its position in Stryker by 1,432.8% during the third quarter. International Assets Investment Management LLC now owns 25,000 shares of the medical technology company’s stock valued at $6,885,000 after purchasing an additional 23,369 shares during the last quarter. Amundi grew its stake in Stryker by 18.3% in the 2nd quarter. Amundi now owns 1,246,353 shares of the medical technology company’s stock worth $392,402,000 after buying an additional 192,447 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Stryker by 8.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 859,544 shares of the medical technology company’s stock worth $270,642,000 after buying an additional 65,333 shares during the last quarter. Veritas Asset Management LLP bought a new position in shares of Stryker in the 2nd quarter worth $168,057,000. Finally, Bank of America Corp DE bought a new position in shares of Stryker in the 2nd quarter worth $1,404,284,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Debra King sold 826 shares of Stryker 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 owned 6,210 shares in the company, valued at $2,088,423. This trade represents a 11.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronda E. Stryker sold 550,000 shares of the business’s stock in a transaction on Friday, November 6th. The stock was sold at an average price of $325.32, for a total transaction 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 $553,491,315. This represents a 24.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 901,267 shares of company stock valued at $297,123,701. Corporate insiders own 4.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on SYK. Evercore raised their price objective on shares of Stryker from $335.00 to $355.00 in a research report on Wednesday, October 28th. Citigroup reiterated a “market outperform” rating on shares of Stryker in a research report on Friday, October 30th. Deutsche Bank reduced their target price on Stryker from $315.00 to $275.00 and set a “hold” rating on the stock in a research note on Friday, October 30th. BTIG Research lowered their price target on Stryker from $316.00 to $304.00 and set a “buy” rating on the stock in a research report on Friday, October 30th. Finally, Truist Financial restated a “hold” rating and set a $305.00 price target (down from $310.00) on shares of Stryker in a research report on Monday, November 2nd. Twenty-one analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $342.19.

Stryker Stock Down 2.1%

Shares of SYK opened at $312.17 on Friday. Stryker Corporation has a 1 year low of $267.00 and a 1 year high of $389.33. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.18 and a quick ratio of 1.30. The stock has a 50 day simple moving average of $292.28 and a two-hundred day simple moving average of $322.83. The firm has a market cap of $118.84 billion, a P/E ratio of 22.32, a P/E/G ratio of 2.19 and a beta of 0.78.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, October 29th. The medical technology company reported $3.52 EPS for the quarter, missing the consensus estimate of $3.55 by ($0.03). The business 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 company’s revenue was up 7.6% compared to the same quarter last year. During the same period last year, the business posted $3.19 earnings per share. On average, analysts forecast that Stryker Corporation will post 14.85 earnings per share for the current fiscal year.

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.