Stryker Co. (NYSE:SYK) Shares Purchased by NewEdge Advisors LLC

NewEdge Advisors LLC raised its position in Stryker Co. (NYSE:SYK) by 36.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,854 shares of the medical technology company’s stock after buying an additional 6,066 shares during the period. NewEdge Advisors LLC’s holdings in Stryker were worth $7,776,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SYK. Central Pacific Bank Trust Division purchased a new stake in shares of Stryker during the first quarter worth $39,000. Accent Capital Management LLC acquired a new position in Stryker during the fourth quarter worth about $60,000. Sachetta LLC grew its stake in Stryker by 16.3% during the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock valued at $80,000 after acquiring an additional 34 shares in the last quarter. Hazlett Burt & Watson Inc. raised its holdings in Stryker by 17.9% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 264 shares of the medical technology company’s stock valued at $94,000 after acquiring an additional 40 shares during the last quarter. Finally, Rise Advisors LLC lifted its stake in Stryker by 144.6% in the 1st quarter. Rise Advisors LLC now owns 274 shares of the medical technology company’s stock worth $98,000 after purchasing an additional 162 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Trading Up 0.5 %

NYSE SYK opened at $361.26 on Tuesday. Stryker Co. has a one year low of $249.98 and a one year high of $374.63. The firm has a 50 day simple moving average of $348.29 and a 200-day simple moving average of $343.00. The firm has a market cap of $137.62 billion, a price-to-earnings ratio of 41.24, a PEG ratio of 2.78 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the business posted $2.54 earnings per share. Stryker’s revenue was up 8.5% compared to the same quarter last year. Equities research analysts anticipate that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.80 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.89%. Stryker’s dividend payout ratio is currently 36.53%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. UBS Group increased their price target on Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Stifel Nicolaus reduced their price target on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Wolfe Research assumed coverage on shares of Stryker in a report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price objective for the company. Barclays lifted their target price 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. Finally, Needham & Company LLC increased their price target on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.58.

Insiders Place Their Bets

In other news, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the sale, the director now owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,685,213.16. The disclosure for this sale can be found here. Insiders sold 220,068 shares of company stock worth $71,811,372 in the last 90 days. Corporate insiders own 5.90% of the company’s stock.

Stryker Company 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.