Turtle Creek Wealth Advisors LLC Has $5.89 Million Position in Stryker Co. (NYSE:SYK)

Turtle Creek Wealth Advisors LLC increased its stake in shares of Stryker Co. (NYSE:SYK) by 2.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,299 shares of the medical technology company’s stock after purchasing an additional 333 shares during the quarter. Stryker makes up approximately 1.2% of Turtle Creek Wealth Advisors LLC’s portfolio, making the stock its 26th largest position. Turtle Creek Wealth Advisors LLC’s holdings in Stryker were worth $5,888,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in SYK. Centennial Bank AR raised its position in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares during the period. HBW Advisory Services LLC bought a new position in shares of Stryker in the third quarter valued at approximately $42,000. Hara Capital LLC bought a new position in shares of Stryker in the third quarter valued at approximately $42,000. Grove Bank & Trust raised its position in shares of Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after purchasing an additional 56 shares during the period. Finally, DT Investment Partners LLC increased its position in Stryker by 114.3% during the third quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock worth $49,000 after acquiring an additional 72 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Viju Menon sold 600 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $3,219,495. This represents a 6.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of the company’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 completion of the sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 67,381 shares of company stock valued at $24,825,275. 5.90% of the stock is currently owned by insiders.

Stryker Price Performance

Shares of Stryker stock traded up $6.80 during trading on Friday, reaching $390.08. The company’s stock had a trading volume of 2,874,077 shares, compared to its average volume of 1,335,082. The stock has a 50-day moving average price of $364.07 and a two-hundred day moving average price of $347.33. 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 Co. has a one year low of $282.35 and a one year high of $392.70. The stock has a market capitalization of $148.71 billion, a P/E ratio of 41.81, a price-to-earnings-growth ratio of 2.89 and a beta of 0.91.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $5.37 billion. During the same period in the previous year, the business posted $2.46 earnings per share. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Stryker Co. will post 12.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SYK. Stifel Nicolaus dropped their target price on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Robert W. Baird boosted their target price on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 target price (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. BTIG Research boosted their target price on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, 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. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $393.65.

Stryker 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.