Empowered Funds LLC Has $2.35 Million Position in Stryker Co. (NYSE:SYK)

Empowered Funds LLC lifted its holdings in shares of Stryker Co. (NYSE:SYK) by 6.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,504 shares of the medical technology company’s stock after purchasing an additional 399 shares during the quarter. Empowered Funds LLC’s holdings in Stryker were worth $2,350,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of SYK. Bessemer Group Inc. raised its position in shares of Stryker by 100.4% during the first quarter. Bessemer Group Inc. now owns 18,267 shares of the medical technology company’s stock worth $6,538,000 after purchasing an additional 9,150 shares during the period. CreativeOne Wealth LLC raised its position in shares of Stryker by 55.7% during the first quarter. CreativeOne Wealth LLC now owns 1,924 shares of the medical technology company’s stock worth $688,000 after purchasing an additional 688 shares during the period. EP Wealth Advisors LLC raised its position in shares of Stryker by 2.2% during the first quarter. EP Wealth Advisors LLC now owns 184,807 shares of the medical technology company’s stock worth $66,137,000 after purchasing an additional 3,992 shares during the period. Axxcess Wealth Management LLC raised its position in Stryker by 2.9% in the 1st quarter. Axxcess Wealth Management LLC now owns 5,074 shares of the medical technology company’s stock valued at $1,816,000 after buying an additional 143 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in Stryker by 14.7% in the 1st quarter. Advisors Asset Management Inc. now owns 25,943 shares of the medical technology company’s stock valued at $9,284,000 after buying an additional 3,321 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Transactions at Stryker

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. The trade was a 17.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 owns 100,027 shares in the company, valued at $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. Corporate insiders own 5.50% of the company’s stock.

Analyst Upgrades and Downgrades

SYK has been the topic of a number of recent research reports. UBS Group lifted their target price on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Truist Financial lifted their target price on Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. BTIG Research raised their price target on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada raised their price target on Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus decreased their price target on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $393.65.

Stryker Price Performance

Shares of NYSE SYK opened at $388.66 on Wednesday. The stock has a market capitalization of $148.16 billion, a PE ratio of 41.66, a P/E/G ratio of 2.94 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 business has a fifty day moving average price of $365.08 and a two-hundred day moving average price of $348.40. Stryker Co. has a fifty-two week low of $285.79 and a fifty-two week high of $398.20.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating 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 firm 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 firm earned $2.46 EPS. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, equities analysts predict 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.