Royal Fund Management LLC Has $6.15 Million Stock Position in Stryker Co. (NYSE:SYK)

Royal Fund Management LLC raised its position in shares of Stryker Co. (NYSE:SYK) by 106.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 17,032 shares of the medical technology company’s stock after buying an additional 8,771 shares during the period. Royal Fund Management LLC’s holdings in Stryker were worth $6,154,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SYK. Centennial Bank AR boosted its stake in Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of Stryker during the first quarter worth approximately $39,000. HBW Advisory Services LLC purchased a new position in Stryker during the third quarter valued at approximately $42,000. Accent Capital Management LLC acquired a new position in Stryker in the 4th quarter valued at approximately $60,000. Finally, Sachetta LLC grew its holdings in shares of 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. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Price Performance

Shares of SYK stock traded up $0.16 during mid-day trading on Wednesday, reaching $350.95. The company’s stock had a trading volume of 24,320 shares, compared to its average volume of 1,261,398. The company has a market cap of $133.69 billion, a P/E ratio of 40.05, a PEG ratio of 2.71 and a beta of 0.91. The firm’s 50-day moving average is $350.43 and its two-hundred day moving average is $342.92. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $374.63. 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 quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share 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 company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the previous year, the business earned $2.54 earnings per share. The company’s quarterly revenue was up 8.5% on a year-over-year basis. On average, research analysts predict that Stryker Co. will post 12 earnings per share 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 paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is currently 36.53%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Needham & Company LLC increased their price objective on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. UBS Group lifted 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. Wolfe Research initiated coverage on shares of Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective on the stock. BTIG Research increased their price target on shares of Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Finally, Barclays increased their target price on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Stryker has an average rating of “Moderate Buy” and a consensus target price of $379.37.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the sale, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction 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 transaction, the director now owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker 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 completion of the sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 220,068 shares of company stock valued at $71,811,372 in the last three months. 5.90% of the stock is owned by corporate insiders.

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.