Hohimer Wealth Management LLC Makes New Investment in Stryker Corporation $SYK

Key Points

• Hohimer Wealth Management opened a Stryker position, acquiring 16,826 shares worth approximately $4.63 million in the third quarter. Institutional investors collectively own 77.09% of the company’s stock.
• Stryker’s latest quarterly results fell short of estimates: EPS was $3.52 versus a $3.55 consensus, and revenue was $6.52 billion versus $6.62 billion expected. Revenue nevertheless rose 7.6% year over year.
• Analysts give Stryker a “Moderate Buy” consensus, with 21 Buy and seven Hold ratings and an average price target of $343.73.

Hohimer Wealth Management LLC acquired a new stake in shares of Stryker Corporation (NYSE:SYK - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 16,826 shares of the medical technology company's stock, valued at approximately $4,634,000.

Several other large investors have also bought and sold shares of the stock. State Street Corp raised its holdings in shares of Stryker by 1.2% in the second quarter. State Street Corp now owns 15,532,565 shares of the medical technology company's stock valued at $4,903,772,000 after purchasing an additional 183,400 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Stryker by 0.6% during the second quarter. Wellington Management Group LLP now owns 8,167,185 shares of the medical technology company's stock valued at $2,571,357,000 after purchasing an additional 45,478 shares in the last quarter. Bank of America Corp DE bought a new position in shares of Stryker during the second quarter valued at about $1,404,284,000. Royal Bank of Canada boosted its holdings in Stryker by 6.5% during the first quarter. Royal Bank of Canada now owns 3,273,232 shares of the medical technology company's stock worth $1,075,552,000 after purchasing an additional 199,863 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Stryker by 21.8% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,689,376 shares of the medical technology company's stock worth $846,723,000 after purchasing an additional 481,175 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Price Performance

SYK opened at $325.26 on Monday. The company has a market capitalization of $123.83 billion, a price-to-earnings ratio of 34.64, a PEG 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. The firm has a 50-day moving average price of $292.37 and a 200-day moving average price of $323.59. Stryker Corporation has a twelve month low of $267.00 and a twelve month high of $389.33.

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

Insider Activity at Stryker

In other Stryker news, Director Ronda Stryker sold 300,000 shares of the business's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $335.90, for a total transaction of $100,770,000.00. Following the sale, the director owned 2,301,375 shares of the company's stock, valued at $773,031,862.50. The trade was a 11.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Debra King sold 826 shares of the business's stock in a transaction on 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 directly owned 6,210 shares in the company, valued at $2,088,423. The trade was a 11.74% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 351,267 shares of company stock worth $118,197,701. Corporate insiders own 4.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SYK. UBS Group reduced their price objective 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. Robert W. Baird dropped their target price on shares of Stryker from $385.00 to $334.00 in a research report on Friday, October 30th. Citigroup reissued a "market outperform" rating on shares of Stryker in a research report on Friday, October 30th. Johnson Rice downgraded Stryker to a "hold" rating in a research note on Friday, October 30th. Finally, Needham & Company LLC reduced their target price on Stryker from $418.00 to $359.00 and set a "buy" rating for the company in a report on Friday, October 30th. Twenty-one research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $343.73.

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.

Founded in 1941 by orthopedic surgeon Dr.

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