146,665 Shares in Stryker Corporation $SYK Acquired by Bahl & Gaynor LLC

Key Points

• Bahl & Gaynor LLC initiated a position in Stryker, buying 146,665 shares worth approximately $40.4 million in the third quarter. Institutional investors and hedge funds collectively own 77.09% of the stock.
• Stryker insiders sold 901,267 shares valued at about $297.1 million over the last quarter, including director Ronda Stryker’s sale of 550,000 shares.
• Analysts give Stryker a consensus “Moderate Buy” rating and $342.19 price target. In its latest quarter, the company reported $3.52 earnings per share and $6.52 billion in revenue, both slightly below estimates.

Bahl & Gaynor LLC purchased a new position in Stryker Corporation (NYSE:SYK - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 146,665 shares of the medical technology company's stock, valued at approximately $40,390,000.

Several other institutional investors have also modified their holdings of the stock. AMG National Trust Bank boosted its stake in shares of Stryker by 2.7% in the third quarter. AMG National Trust Bank now owns 15,572 shares of the medical technology company's stock worth $4,288,000 after acquiring an additional 407 shares during the last quarter. Moneco Advisors LLC raised its stake in Stryker by 13.5% in the 3rd quarter. Moneco Advisors LLC now owns 2,353 shares of the medical technology company's stock valued at $648,000 after purchasing an additional 279 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its position in Stryker by 58.9% during the third quarter. Mesirow Financial Investment Management Inc. now owns 104,547 shares of the medical technology company's stock worth $28,791,000 after acquiring an additional 38,753 shares during the last quarter. Lido Advisors LLC boosted its position in Stryker by 4.3% during the third quarter. Lido Advisors LLC now owns 48,866 shares of the medical technology company's stock worth $13,457,000 after acquiring an additional 2,010 shares during the last quarter. Finally, Cornerstone Wealth Management LLC purchased a new stake in Stryker during the 3rd quarter valued at about $308,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Insider Buying and Selling at Stryker

In other Stryker news, insider Dylan Crotty sold 441 shares of the company's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $328.61, for a total transaction of $144,917.01. Following the transaction, the insider directly owned 6,102 shares in the company, valued at $2,005,178.22. This represents a 6.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronda Stryker sold 550,000 shares of the firm's stock in a transaction on Friday, November 6th. The stock was sold at an average price of $325.32, for a total value of $178,926,000.00. Following the transaction, the director owned 1,701,375 shares of the company's stock, valued at approximately $553,491,315. This represents a 24.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 901,267 shares of company stock valued at $297,123,701 over the last quarter. 4.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Citigroup reiterated a "market outperform" rating on shares of Stryker in a report on Friday, October 30th. Wolfe Research cut Stryker from an "outperform" rating to a "peer perform" rating in a report on Thursday, August 13th. BTIG Research lowered their target price on Stryker from $316.00 to $304.00 and set a "buy" rating on the stock in a report on Friday, October 30th. Canaccord Genuity Group lowered Stryker from a "buy" rating to a "hold" rating and dropped their price target for the company from $385.00 to $300.00 in a research report on Friday, October 30th. Finally, TD Cowen cut their price target on Stryker from $298.00 to $290.00 and set a "hold" rating for the company in a report on Friday, October 30th. Twenty-one investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $342.19.

Stryker Price Performance

NYSE:SYK opened at $324.00 on Wednesday. Stryker Corporation has a 52 week low of $267.00 and a 52 week high of $389.33. The stock's fifty day moving average is $292.25 and its two-hundred day moving average is $323.23. The company has a market capitalization of $123.34 billion, a P/E ratio of 34.50, a P/E/G ratio of 2.24 and a beta of 0.78. The company has a quick ratio of 1.30, a current ratio of 2.18 and a debt-to-equity ratio of 0.60.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The medical technology company reported $3.52 earnings per share for the quarter, missing analysts' consensus estimates of $3.55 by ($0.03). The business had revenue of $6.52 billion for the quarter, compared to analysts' expectations of $6.62 billion. Stryker had a return on equity of 23.74% and a net margin of 13.78%. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.19 earnings per share. Equities analysts expect that Stryker Corporation will post 14.84 EPS for the current year.

Stryker Company Profile

Stryker is a medical technology company that develops and sells products and services for healthcare providers. Its offerings include orthopedic implants and surgical equipment, neurotechnology and spine products, and medical and surgical equipment used in hospitals and other care settings. The company's products also include patient-handling and emergency medical equipment, as well as instruments and technologies that support surgical procedures. Stryker serves healthcare customers in the United States and internationally.

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