Stryker Co. (NYSE:SYK) Shares Purchased by Investment Management Corp of Ontario

Investment Management Corp of Ontario raised its holdings in shares of Stryker Co. (NYSE:SYK) by 26.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,945 shares of the medical technology company’s stock after buying an additional 3,700 shares during the period. Investment Management Corp of Ontario’s holdings in Stryker were worth $6,483,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SYK. FMR LLC grew its stake in shares of Stryker by 3.0% during the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after acquiring an additional 215,782 shares in the last quarter. Clearbridge Investments LLC grew its stake in Stryker by 2.9% during the 2nd quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock valued at $790,554,000 after purchasing an additional 66,482 shares in the last quarter. Parnassus Investments LLC purchased a new stake in Stryker during the 3rd quarter worth approximately $762,798,000. Janus Henderson Group PLC boosted its stake in shares of Stryker by 1.5% during the 3rd quarter. Janus Henderson Group PLC now owns 1,969,757 shares of the medical technology company’s stock valued at $711,594,000 after buying an additional 28,421 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Stryker by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,936,226 shares of the medical technology company’s stock worth $699,481,000 after buying an additional 37,000 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SYK has been the subject of several recent analyst reports. StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a report on Friday, November 22nd. UBS Group upped their price objective on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Royal Bank of Canada lifted their target price on Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Robert W. Baird upped their price target on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their price objective on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker has an average rating of “Moderate Buy” and a consensus price target of $398.40.

Stryker Stock Up 0.3 %

NYSE SYK opened at $390.97 on Wednesday. The company has a market capitalization of $149.04 billion, a P/E ratio of 41.90, a PEG ratio of 2.94 and a beta of 0.94. Stryker Co. has a 12 month low of $285.79 and a 12 month high of $398.20. 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 company’s 50 day simple moving average is $369.58 and its 200 day simple moving average is $352.53.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the previous year, the company earned $2.46 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities research analysts expect that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Insider Activity

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. This represents a 17.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,781 shares of company stock worth $24,612,275. 5.50% of the stock is owned by corporate insiders.

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.