Stryker Co. (NYSE:SYK) Shares Bought by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC grew its position in shares of Stryker Co. (NYSE:SYK) by 19.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,334 shares of the medical technology company’s stock after purchasing an additional 216 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Stryker were worth $399,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Magellan Asset Management Ltd lifted its holdings in Stryker by 74,911.8% during the 3rd quarter. Magellan Asset Management Ltd now owns 680,357 shares of the medical technology company’s stock worth $185,921,000 after buying an additional 679,450 shares in the last quarter. Barclays PLC raised its stake in shares of Stryker by 103.5% in the third quarter. Barclays PLC now owns 1,084,987 shares of the medical technology company’s stock valued at $296,493,000 after acquiring an additional 551,798 shares in the last quarter. Morgan Stanley boosted its holdings in Stryker by 4.4% in the third quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock valued at $1,452,493,000 after purchasing an additional 223,728 shares during the period. The Manufacturers Life Insurance Company grew its stake in Stryker by 24.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,115,955 shares of the medical technology company’s stock worth $304,957,000 after purchasing an additional 217,672 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Stryker by 14.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,547,683 shares of the medical technology company’s stock worth $422,099,000 after purchasing an additional 194,715 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Buying and Selling

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at $1,317,414. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 5.50% of the company’s stock.

Stryker Stock Up 0.7 %

NYSE SYK traded up $2.19 during mid-day trading on Thursday, reaching $331.47. 504,044 shares of the company’s stock traded hands, compared to its average volume of 1,321,989. The company has a fifty day simple moving average of $346.05 and a 200-day simple moving average of $318.84. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41. The company has a market cap of $126.27 billion, a price-to-earnings ratio of 37.74, a P/E/G ratio of 2.54 and a beta of 0.91. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. The firm had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.14 earnings per share. As a group, equities research analysts expect that Stryker Co. will post 11.94 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Citigroup lifted their price target on shares of Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and lifted their price objective for the company from $315.00 to $360.00 in a research report on Wednesday, January 31st. Truist Financial boosted their price target on shares of Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a research note on Wednesday, January 31st. Stifel Nicolaus boosted their target price on Stryker from $350.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, BTIG Research increased their price objective on Stryker from $366.00 to $369.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average target price of $365.94.

Stryker 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.