Freedom Investment Management Inc. Has $2.18 Million Stake in Stryker Co. (NYSE:SYK)

Freedom Investment Management Inc. lowered its position in shares of Stryker Co. (NYSE:SYK) by 4.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,020 shares of the medical technology company’s stock after selling 307 shares during the period. Freedom Investment Management Inc.’s holdings in Stryker were worth $2,175,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SYK. Parnassus Investments LLC acquired a new stake in shares of Stryker in the third quarter valued at about $762,798,000. International Assets Investment Management LLC increased its position in Stryker by 66,967.5% during the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after purchasing an additional 852,496 shares during the period. American Century Companies Inc. raised its holdings in Stryker by 287.6% during the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock worth $172,033,000 after purchasing an additional 375,166 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Stryker by 49.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 686,416 shares of the medical technology company’s stock worth $233,553,000 after purchasing an additional 228,139 shares during the period. Finally, FMR LLC boosted its stake in shares of Stryker by 3.0% in the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after purchasing an additional 215,782 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SYK shares. Piper Sandler restated an “overweight” rating and issued a $420.00 target price (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Barclays upped their target price on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Citigroup raised their target price on Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Needham & Company LLC boosted their price target on Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $393.65.

Insiders Place Their Bets

In related news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. This trade represents a 17.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,781 shares of company stock valued at $24,612,275. Company insiders own 5.50% of the company’s stock.

Stryker Price Performance

Shares of NYSE SYK opened at $389.71 on Wednesday. The stock’s 50 day moving average price is $366.97 and its 200-day moving average price is $350.42. The company has a market capitalization of $148.57 billion, a PE ratio of 41.77, a PEG ratio of 2.90 and a beta of 0.91. Stryker Co. has a twelve month low of $285.79 and a twelve month high of $398.20. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.46 EPS. On average, equities analysts anticipate that Stryker Co. will post 12.06 EPS for the current year.

Stryker Company Profile

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.