Stryker Co. (NYSE:SYK) Shares Bought by Valmark Advisers Inc.

Valmark Advisers Inc. grew its holdings in Stryker Co. (NYSE:SYK) by 16.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,352 shares of the medical technology company’s stock after acquiring an additional 324 shares during the quarter. Valmark Advisers Inc.’s holdings in Stryker were worth $800,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Atlantic Edge Private Wealth Management LLC acquired a new stake in Stryker in the 4th quarter worth approximately $1,561,000. Patton Albertson Miller Group LLC lifted its stake in shares of Stryker by 23.7% during the fourth quarter. Patton Albertson Miller Group LLC now owns 17,825 shares of the medical technology company’s stock worth $5,338,000 after buying an additional 3,415 shares during the period. Koshinski Asset Management Inc. purchased a new stake in shares of Stryker during the first quarter valued at $795,000. Envestnet Portfolio Solutions Inc. increased its position in shares of Stryker by 43.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock valued at $6,617,000 after acquiring an additional 5,565 shares during the period. Finally, Norden Group LLC purchased a new position in Stryker in the 1st quarter worth $4,027,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

Stryker stock opened at $360.42 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. The company’s fifty day moving average price is $337.56 and its 200 day moving average price is $341.60. The stock has a market capitalization of $137.30 billion, a P/E ratio of 41.14, a P/E/G ratio of 2.78 and a beta of 0.89. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $361.41.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.02. The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.54 earnings per share. As a group, equities research analysts anticipate that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.89%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Wall Street Analyst Weigh In

Several research firms have weighed in on SYK. Barclays boosted their price target on Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. UBS Group increased their price target on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Royal Bank of Canada reissued an “outperform” rating and set a $386.00 price target on shares of Stryker in a research report on Wednesday, July 31st. The Goldman Sachs Group began coverage on shares of Stryker in a research note on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price objective on the stock. Finally, Morgan Stanley boosted their target price on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $373.84.

Insider Activity

In related news, insider Viju Menon sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Viju Menon sold 600 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at $949,716. The disclosure for this sale can be found here. Insiders have sold a total of 210,600 shares of company stock worth $68,330,400 over the last quarter. 5.90% of the stock is currently owned by corporate insiders.

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.