Stryker Corporation $SYK Stock Position Raised by Lido Advisors LLC

Lido Advisors LLC boosted its position in Stryker Corporation (NYSE:SYK) by 4.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 48,866 shares of the medical technology company’s stock after buying an additional 2,010 shares during the period. Lido Advisors LLC’s holdings in Stryker were worth $13,457,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE purchased a new stake in Stryker during the second quarter worth $1,404,284,000. Legal & General Group Plc purchased a new position in shares of Stryker in the second quarter valued at $707,212,000. Jupiter Topco LLC purchased a new position in shares of Stryker in the second quarter valued at $681,581,000. Corient Private Wealth LP purchased a new position in shares of Stryker in the second quarter valued at $323,035,000. Finally, Flossbach Von Storch SE acquired a new position in shares of Stryker during the 2nd quarter worth $464,506,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Price Performance

Shares of NYSE:SYK opened at $318.67 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.30 and a current ratio of 2.18. The business’s fifty day moving average price is $292.27 and its two-hundred day moving average price is $323.05. The stock has a market cap of $121.31 billion, a PE ratio of 33.94, a price-to-earnings-growth ratio of 2.23 and a beta of 0.78. Stryker Corporation has a one year low of $267.00 and a one year high of $389.33.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, October 29th. The medical technology company reported $3.52 earnings per share for the quarter, missing analysts’ consensus estimates of $3.55 by ($0.03). Stryker had a return on equity of 23.74% and a net margin of 13.78%. The company had revenue of $6.52 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same period last year, the firm earned $3.19 earnings per share. The business’s revenue was up 7.6% compared to the same quarter last year. On average, analysts forecast that Stryker Corporation will post 14.85 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on SYK. Johnson Rice lowered shares of Stryker to a “hold” rating in a research report on Friday, October 30th. Wall Street Zen downgraded shares of Stryker from a “buy” rating to a “hold” rating in a report on Saturday, October 3rd. Deutsche Bank dropped their target price on shares of Stryker from $315.00 to $275.00 and set a “hold” rating for the company in a report on Friday, October 30th. Leerink Partners cut their target price on shares of Stryker from $403.00 to $353.00 and set an “outperform” rating for the company in a research report on Friday, October 9th. Finally, Stifel Nicolaus reduced their price target on shares of Stryker from $330.00 to $325.00 and set a “buy” rating on the stock in a report on Monday, November 2nd. Twenty-one equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and an average target price of $342.19.

Insider Buying and Selling

In related news, insider Debra King sold 826 shares of Stryker stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $336.30, for a total transaction of $277,783.80. Following the completion of the sale, the insider owned 6,210 shares in the company, valued at approximately $2,088,423. This trade represents a 11.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ronda Stryker sold 550,000 shares of the business’s stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $325.32, for a total transaction of $178,926,000.00. Following the completion of the transaction, the director directly owned 1,701,375 shares of the company’s stock, valued at $553,491,315. The trade was a 24.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 901,267 shares of company stock worth $297,123,701. 4.60% of the stock is owned by corporate insiders.

Stryker Company Profile

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.