Simplify Asset Management Inc. Raises Position in Stryker Co. (NYSE:SYK)

Simplify Asset Management Inc. increased its stake in shares of Stryker Co. (NYSE:SYK) by 64.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,812 shares of the medical technology company’s stock after acquiring an additional 708 shares during the period. Simplify Asset Management Inc.’s holdings in Stryker were worth $655,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SYK. Centennial Bank AR increased its stake in Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares during the period. HBW Advisory Services LLC purchased a new position in Stryker in the third quarter valued at about $42,000. Hara Capital LLC acquired a new stake in Stryker during the 3rd quarter valued at approximately $42,000. Grove Bank & Trust grew its position in shares of Stryker by 84.8% during the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after buying an additional 56 shares in the last quarter. Finally, DT Investment Partners LLC raised its holdings in Stryker by 114.3% in the third quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock valued at $49,000 after acquiring an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Activity at Stryker

In related news, insider Viju Menon sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. The trade was a 6.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,381 shares of company stock valued at $24,825,275. 5.90% of the stock is owned by corporate insiders.

Stryker Stock Up 2.0 %

Stryker stock traded up $7.55 during trading hours on Friday, hitting $390.83. The company had a trading volume of 503,943 shares, compared to its average volume of 1,256,009. Stryker Co. has a fifty-two week low of $282.35 and a fifty-two week high of $392.70. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The firm has a market capitalization of $148.99 billion, a P/E ratio of 41.26, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91. The firm’s fifty day moving average is $363.45 and its 200-day moving average is $346.97.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period last year, the company earned $2.46 earnings per share. Stryker’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, research analysts forecast that Stryker Co. will post 12.06 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SYK. Citigroup boosted their target price on shares of Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Needham & Company LLC boosted their price target on Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Barclays boosted their price target on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $393.65.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.