Macquarie Group Ltd. Acquires 2,500 Shares of Stryker Corp. (SYK)
Macquarie Group Ltd. raised its stake in shares of Stryker Corp. (NYSE:SYK) by 2.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 112,750 shares of the medical technology company’s stock after buying an additional 2,500 shares during the period. Macquarie Group Ltd.’s holdings in Stryker Corp. were worth $13,511,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Williams Jones & Associates LLC acquired a new position in Stryker Corp. during the second quarter valued at $8,591,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Stryker Corp. during the second quarter valued at $1,520,000. Kentucky Retirement Systems acquired a new position in Stryker Corp. during the second quarter valued at $3,201,000. Mason Street Advisors LLC acquired a new position in Stryker Corp. during the second quarter valued at $5,070,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Stryker Corp. by 24.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 9,243 shares of the medical technology company’s stock valued at $1,107,000 after buying an additional 1,832 shares during the period. Institutional investors and hedge funds own 74.90% of the company’s stock.
Stryker Corp. (NYSE:SYK) traded down 0.40% during mid-day trading on Wednesday, hitting $114.95. The stock had a trading volume of 381,308 shares. Stryker Corp. has a 12 month low of $86.68 and a 12 month high of $123.55. The firm’s 50-day moving average is $113.51 and its 200 day moving average is $115.06. The company has a market cap of $43.04 billion, a price-to-earnings ratio of 26.16 and a beta of 0.86.
Stryker Corp. (NYSE:SYK) last issued its quarterly earnings data on Thursday, October 27th. The medical technology company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.37 by $0.02. The firm earned $2.83 billion during the quarter, compared to the consensus estimate of $2.81 billion. Stryker Corp. had a return on equity of 23.61% and a net margin of 15.24%. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.25 earnings per share. Equities analysts anticipate that Stryker Corp. will post $5.78 EPS for the current fiscal year.
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A number of equities research analysts recently issued reports on the company. Zacks Investment Research lowered Stryker Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, November 22nd. Needham & Company LLC reissued a “hold” rating on shares of Stryker Corp. in a research report on Sunday, November 13th. BMO Capital Markets raised Stryker Corp. from an “underperform” rating to a “market perform” rating and set a $125.00 target price on the stock in a research report on Tuesday, November 1st. They noted that the move was a valuation call. Canaccord Genuity set a $127.00 target price on Stryker Corp. and gave the company a “buy” rating in a research report on Sunday, October 30th. Finally, Oppenheimer Holdings Inc. set a $122.00 target price on Stryker Corp. and gave the company a “hold” rating in a research report on Sunday, October 30th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $122.38.
In other Stryker Corp. news, Chairman Kevin Lobo sold 26,306 shares of the firm’s stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $115.74, for a total value of $3,044,656.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronda E. Stryker sold 12,000 shares of the firm’s stock in a transaction on Monday, November 28th. The stock was sold at an average price of $112.73, for a total value of $1,352,760.00. Following the completion of the sale, the director now directly owns 193,142 shares of the company’s stock, valued at $21,772,897.66. The disclosure for this sale can be found here. Corporate insiders own 7.80% of the company’s stock.
About Stryker Corp.
Stryker Corporation (Stryker) is a medical technology company. The Company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Company’s Orthopaedics segment products consist of implants used in hip and knee joint replacements and trauma and surgeries. The Company’s MedSurg segment products consist of surgical equipment and surgical navigation systems (Instruments); endoscopic and communications systems (Endoscopy); patient handling and emergency medical equipment (Medical), and reprocessed and remanufactured medical devices (Sustainability), as well as other medical device products used in a range of medical specialties.
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