Bank of Montreal Can Has $189.62 Million Position in Stryker Co. (NYSE:SYK)

Bank of Montreal Can increased its position in shares of Stryker Co. (NYSE:SYK) by 0.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 555,990 shares of the medical technology company’s stock after buying an additional 3,011 shares during the quarter. Bank of Montreal Can owned 0.15% of Stryker worth $189,615,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Harbor Investment Advisory LLC grew its stake in Stryker by 0.4% in the 1st quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock valued at $2,499,000 after buying an additional 31 shares during the last quarter. Aspen Investment Management Inc grew its position in shares of Stryker by 0.7% during the 1st quarter. Aspen Investment Management Inc now owns 4,368 shares of the medical technology company’s stock worth $1,563,000 after purchasing an additional 31 shares in the last quarter. Proficio Capital Partners LLC grew its position in shares of Stryker by 2.4% during the 1st quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock worth $507,000 after purchasing an additional 33 shares in the last quarter. Versant Capital Management Inc grew its position in shares of Stryker by 4.0% during the 2nd quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock worth $294,000 after purchasing an additional 33 shares in the last quarter. Finally, Stanley Laman Group Ltd. grew its position in shares of Stryker by 4.6% during the 2nd quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after purchasing an additional 33 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Trading Up 0.5 %

NYSE:SYK opened at $366.53 on Tuesday. 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 stock has a market capitalization of $139.63 billion, a price-to-earnings ratio of 41.84, a PEG ratio of 2.87 and a beta of 0.91. The firm has a fifty day simple moving average of $345.88 and a two-hundred day simple moving average of $342.87. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $374.63.

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

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Monday, September 30th. Stryker’s payout ratio is 36.53%.

Insider Activity

In other 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 transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at $949,716. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Viju Menon sold 600 shares of Stryker 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 completion of the transaction, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. The disclosure for this sale can be found here. Insiders sold 220,068 shares of company stock worth $71,811,372 over the last three months. 5.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

SYK has been the topic of a number of analyst reports. Stifel Nicolaus decreased their target price on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. The Goldman Sachs Group initiated coverage on shares of Stryker in a research note on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price objective for the company. BTIG Research increased their price objective on shares of Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. UBS Group increased their price objective on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Evercore ISI dropped 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. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $378.58.

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.