Stryker Corporation $SYK Stake Raised by Consolidated Investment Group LLC

Key Points

• Consolidated Investment Group increased its Stryker stake by 40.5% in the third quarter, adding 6,500 shares to hold 22,530 shares valued at about $6.2 million.
• Stryker’s latest quarterly results fell short of analyst expectations: earnings were $3.52 per share versus $3.55 expected, and revenue was $6.52 billion versus $6.62 billion expected, though revenue grew 7.6% year over year.
• Analysts rate the stock a Moderate Buy, with an average price target of $342.19; insiders sold about 901,000 shares worth $297.1 million over the past 90 days.

Consolidated Investment Group LLC raised its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 40.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,530 shares of the medical technology company's stock after purchasing an additional 6,500 shares during the quarter. Consolidated Investment Group LLC's holdings in Stryker were worth $6,205,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Gables Capital Management Inc. acquired a new position in shares of Stryker during the 2nd quarter worth $25,000. Kilter Group LLC bought a new stake in shares of Stryker during the 2nd quarter worth $25,000. Highland Investment Advisors LLC bought a new stake in shares of Stryker during the 2nd quarter worth $25,000. Cornerstone Financial Management LLC lifted its position in shares of Stryker by 66.0% during the 2nd quarter. Cornerstone Financial Management LLC now owns 78 shares of the medical technology company's stock worth $25,000 after buying an additional 31 shares during the last quarter. Finally, Compass Financial Management LLC acquired a new stake in Stryker in the second quarter valued at about $27,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Stock Down 0.1%

Shares of NYSE:SYK opened at $325.69 on Tuesday. The company has a fifty day moving average of $292.26 and a 200-day moving average of $323.41. The company has a market capitalization of $123.99 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 2.33 and a beta of 0.78. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.30 and a current ratio of 2.18. Stryker Corporation has a 52-week low of $267.00 and a 52-week high of $389.33.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly 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 net margin of 13.78% and a return on equity of 23.74%. The firm had revenue of $6.52 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter in the previous year, the company posted $3.19 earnings per share. The firm's revenue was up 7.6% on a year-over-year basis. On average, equities analysts predict that Stryker Corporation will post 14.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other Stryker news, Director Ronda Stryker sold 550,000 shares of the stock in a transaction dated 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 completion of the transaction, the director directly owned 1,701,375 shares in the company, valued at approximately $553,491,315. This trade represents a 24.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dylan Crotty sold 441 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $328.61, for a total value of $144,917.01. Following the completion of the transaction, the insider owned 6,102 shares of the company's stock, valued at $2,005,178.22. This represents a 6.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 901,267 shares of company stock valued at $297,123,701 in the last 90 days. Corporate insiders own 4.60% of the company's stock.

Wall Street Analyst Weigh In

SYK has been the topic of a number of recent analyst reports. Rothschild & Co Redburn decreased their target price on Stryker from $360.00 to $336.00 in a research report on Monday, November 2nd. TD Cowen lowered their target price on Stryker from $298.00 to $290.00 and set a "hold" rating for the company in a research note on Friday, October 30th. Needham & Company LLC dropped their target price on shares of Stryker from $418.00 to $359.00 and set a "buy" rating for the company in a report on Friday, October 30th. Raymond James Financial restated an "outperform" rating and issued a $323.00 price target (down from $370.00) on shares of Stryker in a research note on Friday, October 30th. Finally, BTIG Research reduced their price target on shares of Stryker from $316.00 to $304.00 and set a "buy" rating on the stock in a research note on Friday, October 30th. Twenty-one 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 stock currently has an average rating of "Moderate Buy" and an average price target of $342.19.

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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