Icon Wealth Advisors LLC Buys 2,316 Shares of Stryker Co. (NYSE:SYK)

by · The Markets Daily

Icon Wealth Advisors LLC raised its position in shares of Stryker Co. (NYSE:SYK – Free Report) by 461.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,818 shares of the medical technology company’s stock after acquiring an additional 2,316 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Stryker were worth $1,018,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Centennial Bank AR grew its stake in Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC bought a new position in shares of Stryker in the 3rd quarter worth about $36,000. HBW Advisory Services LLC bought a new stake in Stryker during the third quarter worth about $42,000. Hara Capital LLC purchased a new stake in Stryker in the third quarter worth about $42,000. Finally, Grove Bank & Trust increased its stake in shares of Stryker by 84.8% during the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after purchasing an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Down 1.3 %

NYSE SYK opened at $384.88 on Friday. The stock’s 50-day moving average price is $366.20 and its 200-day moving average price is $349.36. The company has a market capitalization of $146.72 billion, a P/E ratio of 41.25, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. 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 Co. has a 52 week low of $285.79 and a 52 week high of $398.20.

Stryker (NYSE:SYK – Get Free Report) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.46 EPS. On average, equities research analysts predict that Stryker Co. will post 12.06 earnings per share for the current year.

Analyst Ratings Changes

SYK has been the topic of several recent research reports. Wells Fargo & Company upped their price target on Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Evercore ISI raised their price target on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Stifel Nicolaus dropped their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Needham & Company LLC raised their price objective on shares of Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Barclays upped their target price on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Get Our Latest Stock Report on SYK

Insider Activity

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,685,213.16. The trade was a 42.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Viju Menon sold 600 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The trade was a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,381 shares of company stock worth $24,825,275 in the last three months. Company insiders own 5.90% of the company’s stock.

Stryker Company Profile

(Free Report)

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.

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