Verdence Capital Advisors LLC Grows Stock Position in Stryker Co. (NYSE:SYK)

Verdence Capital Advisors LLC increased its holdings in Stryker Co. (NYSE:SYK) by 19.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,621 shares of the medical technology company’s stock after acquiring an additional 268 shares during the period. Verdence Capital Advisors LLC’s holdings in Stryker were worth $586,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Centennial Bank AR increased its position in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the last quarter. HBW Advisory Services LLC purchased a new position in Stryker during the third quarter worth about $42,000. Hara Capital LLC acquired a new stake in shares of Stryker during the third quarter valued at about $42,000. Grove Bank & Trust raised its stake in shares of Stryker by 84.8% in the 3rd 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 period. Finally, DT Investment Partners LLC lifted its holdings in shares of Stryker by 114.3% in the 3rd quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock worth $49,000 after acquiring an additional 72 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Transactions at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the firm’s 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 transaction, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP M Kathryn Fink sold 2,121 shares of the firm’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 transaction, the vice president now owns 10,042 shares of the company’s stock, valued at $3,715,540. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,381 shares of company stock worth $24,825,275. Corporate insiders own 5.90% of the company’s stock.

Stryker Price Performance

SYK stock opened at $375.96 on Monday. The stock has a market cap of $143.32 billion, a price-to-earnings ratio of 40.30, a PEG ratio of 2.83 and a beta of 0.91. Stryker Co. has a fifty-two week low of $266.93 and a fifty-two week high of $377.83. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The business has a 50 day moving average price of $361.46 and a 200 day moving average price of $345.71.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 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 firm had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period last year, the firm posted $2.46 EPS. The company’s revenue was up 11.9% on a year-over-year basis. Equities research analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SYK has been the subject of several research reports. Canaccord Genuity Group lifted their target price on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada lifted their price objective on Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. BTIG Research lifted their target price on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Barclays increased their price target on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and an average price target 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.