Stryker Corporation $SYK Stock: Mesirow Financial Investment Management Inc. Increases Holdings

Mesirow Financial Investment Management Inc. increased its position in shares of Stryker Corporation (NYSE:SYK) by 58.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 104,547 shares of the medical technology company’s stock after acquiring an additional 38,753 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Stryker were worth $28,791,000 as of its most recent SEC filing.

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

Stryker Stock Down 0.5%

Shares of SYK stock opened at $324.00 on Wednesday. The firm has a fifty day moving average of $292.25 and a 200-day moving average of $323.23. The company has a quick ratio of 1.30, a current ratio of 2.18 and a debt-to-equity ratio of 0.60. Stryker Corporation has a 12-month low of $267.00 and a 12-month high of $389.33. The company has a market capitalization of $123.34 billion, a price-to-earnings ratio of 34.50, a P/E/G ratio of 2.24 and a beta of 0.78.

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

Insider Buying and Selling at Stryker

In other news, insider Debra King sold 826 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $336.30, for a total value of $277,783.80. Following the sale, the insider directly owned 6,210 shares in the company, valued at $2,088,423. The trade was a 11.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ronda Stryker sold 550,000 shares of the company’s stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $325.32, for a total value of $178,926,000.00. Following the transaction, the director directly owned 1,701,375 shares of the company’s stock, valued at $553,491,315. This represents a 24.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 901,267 shares of company stock valued at $297,123,701 in the last 90 days. 4.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SYK has been the topic of several research analyst reports. TD Cowen dropped their price objective on Stryker from $298.00 to $290.00 and set a “hold” rating on the stock in a research note on Friday, October 30th. UBS Group decreased their target price on Stryker from $400.00 to $382.00 and set a “buy” rating for the company in a research note on Monday, August 3rd. Robert W. Baird lowered their price target on Stryker from $385.00 to $334.00 in a report on Friday, October 30th. Evercore raised their price target on Stryker from $335.00 to $355.00 in a research report on Wednesday, October 28th. Finally, Citizens Jmp dropped their price target on Stryker from $400.00 to $390.00 and set a “market outperform” rating on the stock in a research report on Friday, October 30th. Twenty-one research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $342.19.

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.