Stryker Corporation $SYK Stock Purchased by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. lifted its holdings in shares of Stryker Corporation (NYSE:SYK) by 58.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 104,547 shares of the medical technology company’s stock after buying an additional 38,753 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Stryker were worth $28,791,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SYK. Community Bank & Trust Waco Texas raised its holdings in Stryker by 2.3% during the second quarter. Community Bank & Trust Waco Texas now owns 1,395 shares of the medical technology company’s stock worth $439,000 after acquiring an additional 31 shares in the last quarter. Cornerstone Financial Management LLC grew its stake in Stryker by 66.0% in the second quarter. Cornerstone Financial Management LLC now owns 78 shares of the medical technology company’s stock valued at $25,000 after purchasing an additional 31 shares in the last quarter. NWF Advisory Services Inc. grew its stake in Stryker by 2.3% in the second quarter. NWF Advisory Services Inc. now owns 1,472 shares of the medical technology company’s stock valued at $463,000 after purchasing an additional 33 shares in the last quarter. Private Harbour Investment Management & Counsel LLC increased its position in shares of Stryker by 0.9% during the 2nd quarter. Private Harbour Investment Management & Counsel LLC now owns 3,927 shares of the medical technology company’s stock worth $1,236,000 after purchasing an additional 34 shares during the last quarter. Finally, Natural Investments LLC increased its position in shares of Stryker by 1.2% during the 2nd quarter. Natural Investments LLC now owns 2,789 shares of the medical technology company’s stock worth $878,000 after purchasing an additional 34 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SYK shares. Barclays dropped their price objective on Stryker from $375.00 to $365.00 and set an “overweight” rating on the stock in a research note on Friday, October 30th. Wall Street Zen cut shares of Stryker from a “buy” rating to a “hold” rating in a research note on Saturday, October 3rd. Evercore boosted their target price on shares of Stryker from $335.00 to $355.00 in a report on Wednesday, October 28th. Needham & Company LLC dropped their price target on shares of Stryker from $418.00 to $359.00 and set a “buy” rating on the stock in a research report on Friday, October 30th. Finally, Canaccord Genuity Group cut shares of Stryker from a “buy” rating to a “hold” rating and cut their price target for the company from $385.00 to $300.00 in a research note on Friday, October 30th. Twenty-one analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $342.19.

Insider Buying and Selling at Stryker

In other Stryker news, insider Debra King sold 826 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total value of $277,783.80. Following the transaction, the insider directly owned 6,210 shares of the company’s stock, valued at $2,088,423. This represents a 11.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronda Stryker sold 550,000 shares of the firm’s stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $325.32, for a total transaction of $178,926,000.00. Following the sale, the director owned 1,701,375 shares of the company’s stock, valued at $553,491,315. This trade represents a 24.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 901,267 shares of company stock valued at $297,123,701 in the last three months. 4.60% of the stock is currently owned by company insiders.

Stryker Price Performance

NYSE:SYK opened at $324.00 on Wednesday. The company has a market cap of $123.34 billion, a P/E ratio of 34.50, a P/E/G ratio of 2.24 and a beta of 0.78. The firm’s fifty day moving average price is $292.25 and its two-hundred day moving average price is $323.23. Stryker Corporation has a one year low of $267.00 and a one year high of $389.33. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.18 and a quick ratio of 1.30.

Stryker (NYSE:SYK) last posted its earnings results on Thursday, October 29th. The medical technology company reported $3.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.55 by ($0.03). The company had revenue of $6.52 billion for the quarter, compared to analyst estimates of $6.62 billion. Stryker had a return on equity of 23.74% and a net margin of 13.78%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.19 EPS. Equities analysts expect that Stryker Corporation will post 14.84 earnings per share for the current year.

About Stryker

Stryker is a medical technology company that develops and sells products and services for healthcare providers. Its offerings include orthopedic implants and surgical equipment, neurotechnology and spine products, and medical and surgical equipment used in hospitals and other care settings. The company’s products also include patient-handling and emergency medical equipment, as well as instruments and technologies that support surgical procedures. Stryker serves healthcare customers in the United States and internationally.