ProShare Advisors LLC Buys 8,243 Shares of Stryker Corporation $SYK

ProShare Advisors LLC increased its stake in shares of Stryker Corporation (NYSE:SYK) by 15.0% in the third quarter, Holdings Channel reports. The firm owned 63,119 shares of the medical technology company’s stock after buying an additional 8,243 shares during the quarter. ProShare Advisors LLC’s holdings in Stryker were worth $17,382,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SYK. Community Bank & Trust Waco Texas lifted its stake in Stryker by 2.3% in the second quarter. Community Bank & Trust Waco Texas now owns 1,395 shares of the medical technology company’s stock valued at $439,000 after buying an additional 31 shares during the period. Cornerstone Financial Management LLC grew 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 buying an additional 31 shares during the period. NWF Advisory Services Inc. grew its position in shares of Stryker by 2.3% during the 2nd quarter. NWF Advisory Services Inc. now owns 1,472 shares of the medical technology company’s stock worth $463,000 after buying an additional 33 shares during the period. Harold Davidson & Associates Inc. increased its stake in shares of Stryker by 0.4% in the 1st quarter. Harold Davidson & Associates Inc. now owns 8,668 shares of the medical technology company’s stock valued at $2,848,000 after acquiring an additional 34 shares during the last quarter. Finally, Private Harbour Investment Management & Counsel LLC increased its stake in shares of Stryker by 0.9% in the 2nd quarter. Private Harbour Investment Management & Counsel LLC now owns 3,927 shares of the medical technology company’s stock valued at $1,236,000 after acquiring an additional 34 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on SYK. Wall Street Zen downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research report on Saturday, October 3rd. Sanford C. Bernstein restated a “market perform” rating on shares of Stryker in a report on Wednesday, October 7th. Needham & Company LLC lowered their target price on shares of Stryker from $418.00 to $359.00 and set a “buy” rating for the company in a research note on Friday. Argus set a $370.00 price target on Stryker in a report on Thursday, July 9th. Finally, Royal Bank Of Canada dropped their target price on shares of Stryker from $420.00 to $375.00 and set an “outperform” rating on the stock in a report on Friday. Sixteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average target price of $355.04.

Stryker Stock Up 5.1%

SYK stock opened at $306.77 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.16 and a quick ratio of 1.33. The stock has a market capitalization of $117.67 billion, a P/E ratio of 32.67, a P/E/G ratio of 1.96 and a beta of 0.78. Stryker Corporation has a fifty-two week low of $267.00 and a fifty-two week high of $389.33. The business has a 50-day moving average of $292.37 and a 200-day moving average of $324.26.

Stryker (NYSE:SYK) last released its 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 firm had revenue of $6.52 billion during the quarter, compared to the consensus estimate of $6.62 billion. Stryker had a net margin of 14.43% and a return on equity of 23.63%. The company’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.19 EPS. On average, sell-side analysts anticipate that Stryker Corporation will post 14.85 earnings per share for the current fiscal year.

Insider Transactions at Stryker

In other Stryker 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 sale, the insider directly owned 6,210 shares in the company, valued at approximately $2,088,423. The trade was a 11.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronda Stryker sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $340.10, for a total value of $17,005,000.00. Following the completion of the transaction, the director owned 2,251,375 shares of the company’s stock, valued at $765,692,637.50. The trade was a 2.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 351,267 shares of company stock valued at $118,197,701 over the last 90 days. 4.60% of the stock is owned by corporate insiders.

Stryker News Summary

Here are the key news stories impacting Stryker this week:

• Positive Sentiment: JPMorgan lowered its price target from $350 to $340 but maintained an Overweight rating, implying roughly 11% potential upside from the referenced share price.
• Positive Sentiment: Barclays reaffirmed its Buy rating, signaling continued confidence in Stryker’s medical-device portfolio despite near-term estimate revisions. Barclays Reaffirms Their Buy Rating on Stryker
• Neutral Sentiment: Truist reaffirmed its Hold rating and reduced its target from $310 to $305, indicating limited near-term upside at the referenced price. Truist Reaffirms Hold Rating on Stryker
• Neutral Sentiment: Price-target reductions from Citizens JMP, Citigroup, TD Cowen and Barclays reflect analysts resetting expectations after Stryker’s third-quarter results and guidance. Barclays nevertheless retained its Buy view. Stryker Fair Value Falls After Analysts Reset Expectations
• Negative Sentiment: Canaccord Genuity Group downgraded Stryker to Hold, adding to concern about valuation and the company’s near-term earnings outlook.
• Negative Sentiment: The stock recently fell below its 50-day moving average after Stryker slightly missed quarterly earnings and revenue expectations, an indication that disappointing results remain an overhang for investors. Stryker Stock Breaks Below 50-Day Moving Average

Stryker Profile

Stryker Corporation (NYSE: SYK) is a global medical technology company that develops and manufactures products used by healthcare providers in hospitals, surgical centers and other clinical settings. Its offerings are designed to support orthopaedic procedures, surgery, emergency care, neurovascular treatment and patient handling.

The company’s product portfolio includes orthopaedic implants and instruments, products for trauma and spine procedures, surgical equipment, endoscopy systems, patient beds and stretchers, emergency medical equipment, and neurovascular devices used in the treatment of conditions such as stroke.