Stocks: Russell Investments Group Ltd. Raises Position in Stryker Co. (SYK)

Stocks: Russell Investments Group Ltd. Raises Position in Stryker Co. (SYK)

Russell Investments Group Ltd. increased its stake in shares of Stryker Co. (NYSE:SYK) by 4.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 666,831 shares of the medical technology company’s stock after buying an additional 26,874 shares during the period. Russell Investments Group Ltd. owned 0.18% of Stryker worth $87,810,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. BB&T Corp increased its stake in Stryker by 32.9% in the third quarter. BB&T Corp now owns 52,519 shares of the medical technology company’s stock valued at $6,114,000 after buying an additional 13,010 shares during the period. Quantitative Investment Management LLC increased its stake in Stryker by 207.1% in the third quarter. Quantitative Investment Management LLC now owns 121,900 shares of the medical technology company’s stock valued at $14,190,000 after buying an additional 82,200 shares during the period. Cedar Wealth Management LLC increased its stake in Stryker by 3.6% in the third quarter. Cedar Wealth Management LLC now owns 2,303 shares of the medical technology company’s stock valued at $268,000 after buying an additional 80 shares during the period. NEXT Financial Group Inc increased its stake in Stryker by 234.6% in the third quarter. NEXT Financial Group Inc now owns 8,817 shares of the medical technology company’s stock valued at $1,026,000 after buying an additional 6,182 shares during the period. Finally, Stratos Wealth Partners LTD. increased its stake in Stryker by 18.7% in the third quarter. Stratos Wealth Partners LTD. now owns 3,368 shares of the medical technology company’s stock valued at $392,000 after buying an additional 530 shares during the period. Hedge funds and other institutional investors own 75.29% of the company’s stock.

Shares of Stryker Co. (NYSE:SYK) opened at 134.84 on Friday. The stock has a market capitalization of $50.40 billion, a PE ratio of 30.30 and a beta of 0.80. Stryker Co. has a 52-week low of $106.48 and a 52-week high of $136.79. The stock’s 50 day moving average is $132.99 and its 200 day moving average is $123.73.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, April 25th. The medical technology company reported $1.48 EPS for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.05. Stryker had a net margin of 14.54% and a return on equity of 23.86%. The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the prior year, the firm posted $1.24 EPS. The firm’s revenue was up 18.4% compared to the same quarter last year. Equities research analysts expect that Stryker Co. will post $6.43 earnings per share for the current fiscal year.

Several research firms recently weighed in on SYK. Deutsche Bank AG reiterated a “buy” rating and issued a $148.00 target price (up previously from $135.00) on shares of Stryker in a report on Saturday, April 29th. Cowen and Company set a $150.00 price target on shares of Stryker and gave the company an “outperform” rating in a research report on Wednesday, April 26th. Barclays PLC reissued a “sell” rating and issued a $133.00 price target on shares of Stryker in a research report on Thursday, April 27th. Needham & Company LLC reissued a “sell” rating on shares of Stryker in a research report on Wednesday, April 26th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price target (up previously from $135.00) on shares of Stryker in a research report on Wednesday, April 26th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $135.15.

In other news, insider Timothy J. Scannell sold 13,322 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $135.89, for a total value of $1,810,326.58. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Yin C. Becker sold 4,398 shares of the firm’s stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $125.27, for a total transaction of $550,937.46. Following the completion of the transaction, the vice president now owns 12,541 shares in the company, valued at $1,571,011.07. The disclosure for this sale can be found here. Corporate insiders own 7.80% of the company’s stock.

Stryker Company Profile

Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.

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