Assetmark Inc. Has $366,000 Stock Holdings in Stryker Co. (NYSE:SYK)

Assetmark Inc. raised its stake in Stryker Co. (NYSE:SYK) by 30.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,013 shares of the medical technology company’s stock after purchasing an additional 238 shares during the quarter. Assetmark Inc.’s holdings in Stryker were worth $366,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Verdence Capital Advisors LLC grew its stake in Stryker by 19.8% in the 3rd quarter. Verdence Capital Advisors LLC now owns 1,621 shares of the medical technology company’s stock valued at $586,000 after buying an additional 268 shares during the last quarter. Washington Trust Advisors Inc. raised its position in Stryker by 47.7% in the third quarter. Washington Trust Advisors Inc. now owns 443 shares of the medical technology company’s stock valued at $160,000 after purchasing an additional 143 shares during the last quarter. CWA Asset Management Group LLC bought a new stake in shares of Stryker in the 3rd quarter valued at about $1,345,000. Leavell Investment Management Inc. lifted its holdings in Stryker by 24.4% in the third quarter. Leavell Investment Management Inc. now owns 1,111 shares of the medical technology company’s stock valued at $402,000 after buying an additional 218 shares during the period. Finally, Fiera Capital Corp increased its stake in shares of Stryker by 11.8% in the 3rd quarter. Fiera Capital Corp now owns 18,682 shares of the medical technology company’s stock valued at $6,749,000 after acquiring an additional 1,969 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on SYK. Royal Bank of Canada upped their target price on shares of Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and set a $420.00 price objective (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price objective on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Robert W. Baird raised their price target on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research report on Thursday. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Stock Performance

SYK opened at $390.08 on Friday. The firm has a market cap of $148.71 billion, a P/E ratio of 41.81, a PEG ratio of 2.89 and a beta of 0.91. 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 company has a 50 day simple moving average of $364.07 and a two-hundred day simple moving average of $347.33. Stryker Co. has a 1-year low of $282.35 and a 1-year high of $392.70.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate 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 in the prior year, the company earned $2.46 EPS. Equities analysts forecast that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Insider Activity at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of Stryker 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 of the company’s stock, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the sale, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,381 shares of company stock worth $24,825,275 in the last quarter. 5.90% of the stock is owned by company insiders.

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.