Insigneo Advisory Services LLC Grows Stock Holdings in Stryker Co. (NYSE:SYK)

Insigneo Advisory Services LLC boosted its holdings in Stryker Co. (NYSE:SYK) by 31.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 2,150 shares of the medical technology company’s stock after purchasing an additional 520 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Stryker were worth $679,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SYK. Burkett Financial Services LLC purchased a new stake in shares of Stryker during the fourth quarter worth about $25,000. Central Pacific Bank Trust Division purchased a new stake in Stryker during the 1st quarter valued at approximately $39,000. Accent Capital Management LLC bought a new stake in shares of Stryker during the fourth quarter valued at approximately $60,000. Sachetta LLC lifted its holdings in shares of Stryker by 16.3% in the second quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after buying an additional 34 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its position in shares of Stryker by 17.9% during the first quarter. Hazlett Burt & Watson Inc. now owns 264 shares of the medical technology company’s stock worth $94,000 after acquiring an additional 40 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Stryker Stock Performance

Shares of NYSE:SYK opened at $359.50 on Thursday. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $137.00 billion, a price-to-earnings ratio of 41.04, a PEG ratio of 2.79 and a beta of 0.91. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $374.63. The firm’s 50-day moving average is $346.43 and its 200 day moving average is $342.89.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the prior year, the business posted $2.54 earnings per share. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. Research analysts predict that Stryker Co. will post 12 EPS for the current year.

Stryker Announces Dividend

The firm 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 dividend of $0.80 per share. The ex-dividend date 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 36.53%.

Wall Street Analysts Forecast Growth

Several analysts have commented on SYK shares. Evercore ISI decreased their price target on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. BTIG Research boosted their target price on Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Morgan Stanley raised their price target on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. UBS Group upped their price objective on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $386.00 target price on shares of Stryker in a report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Stryker has an average rating of “Moderate Buy” and an average target price of $378.58.

Insider Activity

In related news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the sale, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Viju Menon sold 600 shares of the business’s 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 completion of the sale, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 220,068 shares of company stock valued at $71,811,372. 5.90% of the stock is currently owned by company 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.