Stryker Corporation $SYK Shares Bought by Rakuten Investment Management Inc.

Key Points

• Rakuten Investment Management increased its Stryker stake by 10.6% in the third quarter, adding 5,976 shares to bring its holdings to 62,389 shares, valued at about $17.4 million.
• Institutional investors and hedge funds own 77.09% of Stryker. Analysts’ consensus rating is “Moderate Buy”, with an average price target of $343.73.
• Stryker’s latest quarterly results fell slightly short of estimates: EPS was $3.52 versus $3.55 expected, and revenue was $6.52 billion versus $6.62 billion expected; revenue nevertheless rose 7.6% year over year.

Rakuten Investment Management Inc. grew its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 10.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,389 shares of the medical technology company's stock after buying an additional 5,976 shares during the period. Rakuten Investment Management Inc.'s holdings in Stryker were worth $17,392,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bank of America Corp DE bought a new position in Stryker during the 2nd quarter worth $1,404,284,000. Legal & General Group Plc acquired a new stake in Stryker in the second quarter worth approximately $707,212,000. Jupiter Topco LLC acquired a new stake in shares of Stryker in the second quarter valued at $681,581,000. Corient Private Wealth LP bought a new position in shares of Stryker during the 2nd quarter valued at about $323,035,000. Finally, Flossbach Von Storch SE bought a new stake in Stryker during the second quarter worth approximately $464,506,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Stryker in a research note on Thursday, October 29th. Royal Bank Of Canada dropped their price target on shares of Stryker from $420.00 to $375.00 and set an "outperform" rating on the stock in a research note on Friday, October 30th. BTIG Research dropped their price objective on Stryker from $316.00 to $304.00 and set a "buy" rating on the stock in a report on Friday, October 30th. Wolfe Research cut shares of Stryker from an "outperform" rating to a "peer perform" rating in a research note on Thursday, August 13th. Finally, TD Cowen cut their price target on shares of Stryker from $298.00 to $290.00 and set a "hold" rating on the stock in a report on Friday, October 30th. Twenty-one research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $343.73.

Stryker Trading Up 9.6%

SYK opened at $340.39 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.18 and a quick ratio of 1.30. Stryker Corporation has a fifty-two week low of $267.00 and a fifty-two week high of $389.33. The company has a market cap of $129.59 billion, a price-to-earnings ratio of 36.25, a price-to-earnings-growth ratio of 2.13 and a beta of 0.78. The firm has a 50 day simple moving average of $292.21 and a 200 day simple moving average of $323.91.

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 (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 business had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same period in the previous year, the company posted $3.19 earnings per share. Stryker's revenue for the quarter was up 7.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Stryker Corporation will post 14.85 earnings per share for the current year.

Insider Buying and Selling

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

Stryker Company Profile

Stryker Corporation NYSE: SYK is a global medical technology company that develops and manufactures products used by healthcare providers in hospitals, surgical centers and other clinical settings. Its offerings are designed to support orthopaedic procedures, surgery, emergency care, neurovascular treatment and patient handling.

The company's product portfolio includes orthopaedic implants and instruments, products for trauma and spine procedures, surgical equipment, endoscopy systems, patient beds and stretchers, emergency medical equipment, and neurovascular devices used in the treatment of conditions such as stroke.

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