519,163 Shares of Stryker Corporation $SYK Acquired by Welch & Forbes LLC

Key Points

• Welch & Forbes acquired 519,163 Stryker shares in the third quarter, worth about $143 million; the stake represents roughly 1.7% of its portfolio. Institutional investors own 77.09% of the company’s stock.
• Stryker insiders sold about 901,000 shares worth $297 million over the past 90 days. Director Ronda Stryker accounted for 550,000 shares of those sales.
• Stryker’s latest quarterly earnings and revenue fell short of analyst expectations, though revenue grew 7.6% year over year. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $342.19.

Welch & Forbes LLC acquired a new stake in shares of Stryker Corporation (NYSE:SYK - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 519,163 shares of the medical technology company's stock, valued at approximately $142,973,000. Stryker makes up about 1.7% of Welch & Forbes LLC's portfolio, making the stock its 14th biggest position. Welch & Forbes LLC owned approximately 0.14% of Stryker at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Bank of America Corp DE bought a new position in shares of Stryker in the 2nd quarter worth approximately $1,404,284,000. Legal & General Group Plc purchased a new position in shares of Stryker in the 2nd quarter valued at approximately $707,212,000. Jupiter Topco LLC bought a new stake in shares of Stryker during the second quarter valued at approximately $681,581,000. Corient Private Wealth LP bought a new stake in shares of Stryker during the second quarter valued at approximately $323,035,000. Finally, Flossbach Von Storch SE purchased a new stake in Stryker in the second quarter worth $464,506,000. 77.09% of the stock is owned by institutional investors.

Insider Activity at Stryker

In related news, Director Ronda Stryker sold 550,000 shares of the stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $325.32, for a total transaction of $178,926,000.00. Following the sale, the director directly owned 1,701,375 shares of the company's stock, valued at approximately $553,491,315. This represents a 24.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Debra King sold 826 shares of the firm's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total transaction of $277,783.80. Following the sale, the insider owned 6,210 shares of the company's stock, valued at approximately $2,088,423. This represents a 11.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 901,267 shares of company stock valued at $297,123,701. 4.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SYK shares. Robert W. Baird decreased their price objective on Stryker from $385.00 to $334.00 in a report on Friday, October 30th. Wells Fargo & Company decreased their price target on shares of Stryker from $418.00 to $348.00 and set an "overweight" rating for the company in a research note on Wednesday, September 9th. UBS Group lowered their price target on shares of Stryker from $400.00 to $382.00 and set a "buy" rating for the company in a research report on Monday, August 3rd. Evercore boosted their price objective on shares of Stryker from $335.00 to $355.00 in a research note on Wednesday, October 28th. Finally, Citigroup reissued a "market outperform" rating on shares of Stryker in a research note on Friday, October 30th. Twenty-one equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $342.19.

Stryker Stock Down 0.1%

Shares of NYSE:SYK opened at $325.69 on Tuesday. The company has a current ratio of 2.18, a quick ratio of 1.30 and a debt-to-equity ratio of 0.60. The stock has a fifty day simple moving average of $292.26 and a two-hundred day simple moving average of $323.41. Stryker Corporation has a 12-month low of $267.00 and a 12-month high of $389.33. The stock has a market capitalization of $123.99 billion, a price-to-earnings ratio of 34.69, a PEG ratio of 2.33 and a beta of 0.78.

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

Stryker 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.

Founded in 1941 by orthopedic surgeon Dr.

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