NEXT Financial Group Inc boosted its position in Stryker Co. (NYSE:SYK) by 7.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,740 shares of the medical technology company’s stock after acquiring an additional 516 shares during the quarter. NEXT Financial Group Inc’s holdings in Stryker were worth $1,675,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Founders Capital Management LLC lifted its holdings in Stryker by 3.9% in the second quarter. Founders Capital Management LLC now owns 10,887 shares of the medical technology company’s stock valued at $2,238,000 after acquiring an additional 411 shares during the period. First Allied Advisory Services Inc. lifted its position in Stryker by 4.6% during the 2nd quarter. First Allied Advisory Services Inc. now owns 17,939 shares of the medical technology company’s stock worth $3,688,000 after acquiring an additional 791 shares in the last quarter. Commerce Bank lifted its position in Stryker by 2.4% during the 2nd quarter. Commerce Bank now owns 39,890 shares of the medical technology company’s stock worth $8,201,000 after acquiring an additional 921 shares in the last quarter. AGF Investments LLC acquired a new position in Stryker during the 2nd quarter worth approximately $1,366,000. Finally, Clarus Wealth Advisors lifted its position in Stryker by 19.3% during the 2nd quarter. Clarus Wealth Advisors now owns 2,111 shares of the medical technology company’s stock worth $434,000 after acquiring an additional 342 shares in the last quarter. 73.13% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE SYK traded down $1.00 during mid-day trading on Friday, hitting $199.78. 1,281,765 shares of the company traded hands, compared to its average volume of 1,230,180. Stryker Co. has a 1 year low of $144.75 and a 1 year high of $223.45. The stock has a market capitalization of $74.21 billion, a price-to-earnings ratio of 27.33, a PEG ratio of 2.43 and a beta of 0.80. The company has a quick ratio of 1.35, a current ratio of 2.18 and a debt-to-equity ratio of 0.64. The business has a 50 day moving average of $213.13 and a two-hundred day moving average of $205.63.
SYK has been the topic of a number of recent analyst reports. Bank of America upped their target price on Stryker from $220.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Zacks Investment Research raised Stryker from a “hold” rating to a “buy” rating and set a $225.00 target price on the stock in a research report on Monday, July 29th. Morgan Stanley upped their target price on Stryker from $218.00 to $230.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Stifel Nicolaus upped their target price on Stryker from $230.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, ValuEngine lowered Stryker from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $220.17.
In other Stryker news, Director Srikant M. Datar sold 350 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $215.00, for a total value of $75,250.00. Following the transaction, the director now directly owns 6,844 shares of the company’s stock, valued at approximately $1,471,460. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Timothy J. Scannell sold 4,666 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $217.08, for a total value of $1,012,895.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,524 shares of company stock valued at $14,731,927. Company insiders own 7.20% of the company’s stock.
Stryker Company Profile
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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