709 Shares in Stryker Co. (NYSE:SYK) Purchased by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC bought a new stake in Stryker Co. (NYSE:SYK) during the second quarter, HoldingsChannel.com reports. The fund bought 709 shares of the medical technology company’s stock, valued at approximately $241,000.

Several other hedge funds also recently modified their holdings of the company. Burkett Financial Services LLC purchased a new position in shares of Stryker during the fourth quarter valued at approximately $25,000. Central Pacific Bank Trust Division purchased a new position in shares of Stryker during the 1st quarter worth $39,000. DSM Capital Partners LLC acquired a new stake in shares of Stryker during the fourth quarter worth $34,000. Accent Capital Management LLC purchased a new stake in shares of Stryker in the fourth quarter valued at $60,000. Finally, Sachetta LLC acquired a new position in Stryker in the fourth quarter valued at $62,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on SYK. Stifel Nicolaus lowered their price target on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Barclays increased their price target on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Evercore ISI lowered their price objective on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. Finally, Morgan Stanley upped their price target on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and an average target price of $378.58.

Insider Transactions at Stryker

In other news, insider Viju Menon sold 600 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The disclosure for this sale can be found here. In the last 90 days, insiders sold 210,600 shares of company stock valued at $68,330,400. Insiders own 5.90% of the company’s stock.

Stryker Stock Up 0.7 %

Shares of Stryker stock opened at $370.25 on Monday. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $374.24. The company has a market capitalization of $141.09 billion, a PE ratio of 42.27, a P/E/G ratio of 2.84 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The business has a 50-day moving average of $342.26 and a 200-day moving average of $342.37.

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

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio is currently 36.53%.

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.