Stryker Corporation $SYK Position Boosted by Alps Advisors Inc.

Key Points

• Alps Advisors increased its Stryker stake by 97.9% in the third quarter, ending the period with 16,519 shares valued at about $4.55 million. Institutional investors and hedge funds collectively own 77.09% of the company.
• Stryker’s latest quarterly results fell short of expectations: earnings were $3.52 per share versus $3.55 expected, and revenue was $6.52 billion versus $6.62 billion forecast. Revenue nevertheless grew 7.6% year over year.
• Analysts’ average rating is “Moderate Buy”, with a consensus price target of $343.73. Company insiders sold about $118.2 million worth of shares over the past 90 days.

Alps Advisors Inc. lifted its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 97.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,519 shares of the medical technology company's stock after buying an additional 8,173 shares during the quarter. Alps Advisors Inc.'s holdings in Stryker were worth $4,549,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. State Street Corp increased its stake in 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 in the last quarter. Wellington Management Group LLP boosted its position in shares of Stryker by 0.6% during the 2nd quarter. Wellington Management Group LLP now owns 8,167,185 shares of the medical technology company's stock worth $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 2nd quarter worth about $1,404,284,000. Royal Bank of Canada boosted its position in shares of Stryker by 6.5% during the 1st 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Stryker by 21.8% in the 2nd 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 valued at $846,723,000 after buying an additional 481,175 shares during the period. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Trading Down 0.2%

NYSE:SYK opened at $325.26 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.18 and a quick ratio of 1.30. The firm has a 50-day moving average of $292.37 and a 200-day moving average of $323.59. The company has a market cap of $123.83 billion, a PE ratio of 34.64, a PEG ratio of 2.24 and a beta of 0.78. Stryker Corporation has a one year low of $267.00 and a one year high of $389.33.

Stryker (NYSE:SYK - Get Free Report) last posted its 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 during the quarter, compared to analyst estimates of $6.62 billion. Stryker had a return on equity of 23.74% and a net margin of 13.78%. The company's revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.19 EPS. As a group, equities research analysts expect that Stryker Corporation will post 14.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ronda Stryker sold 50,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $340.10, for a total value of $17,005,000.00. Following the completion of the sale, the director directly owned 2,251,375 shares of the company's stock, valued at $765,692,637.50. This represents a 2.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Debra King sold 826 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total value of $277,783.80. Following the completion of the transaction, the insider owned 6,210 shares in the company, valued at $2,088,423. This represents a 11.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 351,267 shares of company stock valued at $118,197,701. Corporate insiders own 4.60% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on SYK shares. Jefferies Financial Group decreased their target price on Stryker from $440.00 to $405.00 and set a "buy" rating for the company in a research report on Tuesday, September 22nd. Barclays cut their price target on Stryker from $375.00 to $365.00 and set an "overweight" rating on the stock in a report on Friday, October 30th. Royal Bank Of Canada reduced their price objective on Stryker from $420.00 to $375.00 and set an "outperform" rating for the company in a research note on Friday, October 30th. Weiss Ratings restated a "hold (c)" rating on shares of Stryker in a report on Thursday, October 29th. Finally, Robert W. Baird decreased their price objective on Stryker from $385.00 to $334.00 in a report on Friday, October 30th. Twenty-one research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, Stryker currently has an average rating of "Moderate Buy" and a consensus price target of $343.73.

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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