Gabelli Funds LLC Grows Holdings in Stryker Co. (NYSE:SYK)

Gabelli Funds LLC boosted its holdings in shares of Stryker Co. (NYSE:SYK) by 0.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,563 shares of the medical technology company’s stock after acquiring an additional 104 shares during the period. Gabelli Funds LLC’s holdings in Stryker were worth $28,092,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Precision Wealth Strategies LLC grew its stake in shares of Stryker by 2.1% in the 4th quarter. Precision Wealth Strategies LLC now owns 3,114 shares of the medical technology company’s stock worth $933,000 after buying an additional 65 shares during the last quarter. Gryphon Financial Partners LLC purchased a new stake in shares of Stryker in the fourth quarter worth $348,000. TrinityPoint Wealth LLC increased its holdings in shares of Stryker by 2.5% during the fourth quarter. TrinityPoint Wealth LLC now owns 2,841 shares of the medical technology company’s stock valued at $851,000 after acquiring an additional 70 shares in the last quarter. Assetmark Inc. raised its position in shares of Stryker by 57.1% in the 4th quarter. Assetmark Inc. now owns 891 shares of the medical technology company’s stock worth $267,000 after purchasing an additional 324 shares during the last quarter. Finally, SageView Advisory Group LLC boosted its stake in Stryker by 17.1% in the 4th quarter. SageView Advisory Group LLC now owns 1,627 shares of the medical technology company’s stock worth $515,000 after purchasing an additional 237 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Insider Activity

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The disclosure for this sale can be found here. Insiders have sold 220,068 shares of company stock worth $71,811,372 over the last ninety days. Corporate insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on SYK shares. UBS Group lifted their target price on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Wolfe Research initiated 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $386.00 price objective on shares of Stryker in a research report on Wednesday, July 31st. Stifel Nicolaus reduced their target price on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Morgan Stanley upped 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. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Stryker has an average rating of “Moderate Buy” and an average price target of $378.58.

Stryker Stock Performance

SYK opened at $364.81 on Monday. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $374.63. The company’s 50 day moving average is $345.12 and its 200 day moving average is $342.81. 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 cap of $138.97 billion, a price-to-earnings ratio of 41.64, a PEG ratio of 2.87 and a beta of 0.91.

Stryker (NYSE:SYK) last posted its quarterly earnings data 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. The firm had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.54 earnings per share. On average, equities research analysts predict that Stryker Co. will post 12 EPS for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is 36.53%.

About Stryker

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.