HPM Partners LLC increased its position in Stryker Co. (NYSE:SYK) by 4.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,904 shares of the medical technology company’s stock after acquiring an additional 467 shares during the period. HPM Partners LLC’s holdings in Stryker were worth $1,672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of SYK. FMR LLC raised its stake in Stryker by 24.0% in the 2nd quarter. FMR LLC now owns 5,327,862 shares of the medical technology company’s stock worth $899,662,000 after acquiring an additional 1,032,333 shares during the last quarter. Point72 Asset Management L.P. raised its stake in Stryker by 1,061.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 951,528 shares of the medical technology company’s stock worth $160,675,000 after acquiring an additional 869,568 shares during the last quarter. BlackRock Inc. raised its stake in Stryker by 2.7% in the 2nd quarter. BlackRock Inc. now owns 24,551,677 shares of the medical technology company’s stock worth $4,145,795,000 after acquiring an additional 646,505 shares during the last quarter. WCM Investment Management CA purchased a new position in Stryker in the 1st quarter worth $70,349,000. Finally, Carmignac Gestion raised its stake in Stryker by 36.6% in the 1st quarter. Carmignac Gestion now owns 1,599,867 shares of the medical technology company’s stock worth $257,451,000 after acquiring an additional 428,789 shares during the last quarter. Institutional investors own 75.08% of the company’s stock.
In other Stryker news, VP Katherine Ann Owen sold 37,866 shares of the stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $166.84, for a total transaction of $6,317,563.44. Following the sale, the vice president now directly owns 11,367 shares of the company’s stock, valued at approximately $1,896,470.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.40% of the stock is currently owned by company insiders.
Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, July 24th. The medical technology company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.03. The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.31 billion. Stryker had a return on equity of 26.93% and a net margin of 8.28%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the firm earned $1.53 EPS. analysts expect that Stryker Co. will post 7.25 EPS for the current year.
SYK has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Stryker from a “hold” rating to a “buy” rating and set a $192.00 target price for the company in a research note on Monday, May 21st. Royal Bank of Canada restated a “buy” rating and issued a $184.00 target price on shares of Stryker in a research note on Wednesday, July 25th. ValuEngine upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, June 26th. Canaccord Genuity restated a “buy” rating and issued a $185.00 target price on shares of Stryker in a research note on Wednesday, July 25th. Finally, BTIG Research initiated coverage on Stryker in a research note on Thursday, August 16th. They issued a “buy” rating and a $187.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $178.33.
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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