Umpqua Bank Raises Stock Position in Stryker Co. (NYSE:SYK)

Umpqua Bank grew its holdings in Stryker Co. (NYSE:SYK) by 4.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,330 shares of the medical technology company’s stock after purchasing an additional 230 shares during the quarter. Umpqua Bank’s holdings in Stryker were worth $1,814,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SYK. Norges Bank acquired a new position in shares of Stryker in the fourth quarter worth $1,260,562,000. Global Assets Advisory LLC purchased a new position in Stryker in the first quarter valued at $341,049,000. JPMorgan Chase & Co. grew its stake in Stryker by 10.4% during the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after purchasing an additional 813,311 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Stryker by 5.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after purchasing an additional 642,178 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in shares of Stryker by 146.9% in the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock valued at $314,449,000 after buying an additional 522,817 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Buying and Selling

In other Stryker news, insider Viju Menon sold 600 shares of Stryker stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Stryker news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was 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 $3,219,495. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction on 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 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 sold 210,600 shares of company stock valued at $68,330,400 over the last ninety days. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Shares of SYK stock opened at $358.92 on Friday. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $364.36. The stock’s 50-day moving average price is $339.06 and its 200 day moving average price is $341.94. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $136.73 billion, a PE ratio of 40.97, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS 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 business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the prior year, the business earned $2.54 earnings per share. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, equities research analysts forecast that Stryker Co. will post 12 EPS for the current year.

Stryker Announces Dividend

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 issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Monday, September 30th. Stryker’s payout ratio is 36.53%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SYK. UBS Group upped their target price on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Stifel Nicolaus decreased their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. The Goldman Sachs Group assumed coverage on Stryker in a report on Thursday, May 30th. They issued a “neutral” rating and a $372.00 target price on the stock. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. Finally, Needham & Company LLC raised their target price on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $377.11.

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.