State of New Jersey Common Pension Fund D lifted its position in shares of Stryker Corporation (NYSE:SYK) by 28.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,000 shares of the medical technology company’s stock after buying an additional 10,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Stryker Corporation were worth $6,391,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in SYK. Acrospire Investment Management LLC purchased a new position in shares of Stryker Corporation during the 2nd quarter valued at about $111,000. Bollard Group LLC raised its holdings in shares of Stryker Corporation by 0.4% during the 2nd quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock valued at $115,000 after buying an additional 3 shares in the last quarter. Motco raised its holdings in shares of Stryker Corporation by 50.7% during the 2nd quarter. Motco now owns 826 shares of the medical technology company’s stock valued at $115,000 after buying an additional 278 shares in the last quarter. Bruderman Asset Management LLC purchased a new position in shares of Stryker Corporation during the 2nd quarter valued at about $150,000. Finally, James Investment Research Inc. purchased a new position in shares of Stryker Corporation during the 2nd quarter valued at about $155,000. 74.00% of the stock is currently owned by institutional investors.
In other Stryker Corporation news, insider Graham A. Mclean sold 1,124 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $146.26, for a total transaction of $164,396.24. Following the sale, the insider now owns 8,983 shares of the company’s stock, valued at approximately $1,313,853.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lonny J. Carpenter sold 5,000 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $146.36, for a total value of $731,800.00. Following the sale, the insider now directly owns 88,207 shares in the company, valued at approximately $12,909,976.52. The disclosure for this sale can be found here. 7.40% of the stock is currently owned by company insiders.
A number of brokerages recently weighed in on SYK. SunTrust Banks, Inc. reissued a “buy” rating and set a $161.00 price objective on shares of Stryker Corporation in a report on Monday, October 2nd. Stifel Nicolaus raised their price objective on Stryker Corporation from $151.00 to $158.00 and gave the company a “buy” rating in a report on Friday, July 28th. Oppenheimer Holdings, Inc. set a $156.00 price objective on Stryker Corporation and gave the company a “hold” rating in a report on Monday. Canaccord Genuity raised their price objective on Stryker Corporation from $155.00 to $162.00 and gave the company a “buy” rating in a report on Friday, October 27th. Finally, BidaskClub cut Stryker Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $151.52.
Stryker Corporation (NYSE:SYK) last released its quarterly earnings data on Thursday, October 26th. The medical technology company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.50 by $0.02. The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.97 billion. Stryker Corporation had a return on equity of 24.11% and a net margin of 14.67%. Stryker Corporation’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the business posted $1.39 EPS.
Stryker Corporation Company Profile
Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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