Schear Investment Advisers LLC Increases Holdings in Stryker Co. (NYSE:SYK)

Schear Investment Advisers LLC grew its holdings in Stryker Co. (NYSE:SYK) by 3.7% during the third quarter, HoldingsChannel reports. The fund owned 3,217 shares of the medical technology company’s stock after purchasing an additional 116 shares during the period. Schear Investment Advisers LLC’s holdings in Stryker were worth $1,162,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Centennial Bank AR increased its stake in Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares during the last quarter. HBW Advisory Services LLC purchased a new position in shares of Stryker in the 3rd quarter valued at $42,000. Hara Capital LLC acquired a new stake in Stryker during the 3rd quarter worth $42,000. Grove Bank & Trust lifted its position in Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after acquiring an additional 56 shares during the last quarter. Finally, DT Investment Partners LLC boosted its stake in Stryker by 114.3% in the third quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock valued at $49,000 after acquiring an additional 72 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Trading Up 1.8 %

Shares of SYK stock opened at $390.08 on Friday. Stryker Co. has a 1-year low of $282.35 and a 1-year high of $392.70. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The business’s fifty day moving average price is $364.07 and its 200 day moving average price is $347.40. The firm has a market capitalization of $148.71 billion, a PE ratio of 41.81, a P/E/G ratio of 2.94 and a beta of 0.91.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. The business’s revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.46 EPS. As a group, sell-side analysts forecast that Stryker Co. will post 12.06 EPS for the current fiscal year.

Insider Activity

In other news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares in the company, valued at $3,219,495. This trade represents a 6.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at $3,715,540. This represents a 17.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 67,381 shares of company stock worth $24,825,275. Company insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SYK. Canaccord Genuity Group lifted their target price on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price objective on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Needham & Company LLC raised their target price on shares of Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. BTIG Research upped their price target on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Evercore ISI raised their price objective on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.