First Commonwealth Financial Corp PA Purchases 46 Shares of Stryker Co. (NYSE:SYK)

First Commonwealth Financial Corp PA lifted its holdings in Stryker Co. (NYSE:SYK) by 2.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,370 shares of the medical technology company’s stock after acquiring an additional 46 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in Stryker were worth $856,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SYK. Parnassus Investments LLC bought a new position in shares of Stryker during the 3rd quarter worth approximately $762,798,000. International Assets Investment Management LLC lifted its holdings in shares of Stryker by 66,967.5% during the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after purchasing an additional 852,496 shares during the period. American Century Companies Inc. boosted its position in Stryker by 287.6% in the second quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock valued at $172,033,000 after buying an additional 375,166 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in Stryker by 49.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 686,416 shares of the medical technology company’s stock worth $233,553,000 after buying an additional 228,139 shares during the period. Finally, FMR LLC grew its position in Stryker by 3.0% during the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after purchasing an additional 215,782 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at $3,715,540. This trade represents a 17.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,781 shares of company stock worth $24,612,275 over the last 90 days. Company insiders own 5.50% of the company’s stock.

Analysts Set New Price Targets

SYK has been the subject of several recent research reports. Barclays lifted their price target on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Citigroup lifted their price target on Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a research report on Friday, November 22nd. Wolfe Research assumed coverage on Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price objective for the company. Finally, Robert W. Baird upped their price objective on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $393.65.

Stryker Stock Performance

Shares of Stryker stock traded up $0.12 on Wednesday, reaching $389.83. 29,522 shares of the stock were exchanged, compared to its average volume of 1,266,136. The firm has a market capitalization of $148.61 billion, a PE ratio of 41.77, a PEG ratio of 2.90 and a beta of 0.91. Stryker Co. has a 1-year low of $285.79 and a 1-year high of $398.20. The business has a fifty day moving average price of $366.97 and a two-hundred day moving average price of $350.42. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66.

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

Stryker Company Profile

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.