Stryker Co. (NYSE:SYK) Shares Bought by Cetera Advisor Networks LLC

Cetera Advisor Networks LLC raised its stake in shares of Stryker Co. (NYSE:SYK) by 25.8% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 41,504 shares of the medical technology company’s stock after buying an additional 8,524 shares during the period. Cetera Advisor Networks LLC’s holdings in Stryker were worth $14,853,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SYK. Carnegie Capital Asset Management LLC grew its stake in shares of Stryker by 0.5% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 96,241 shares of the medical technology company’s stock worth $28,820,000 after purchasing an additional 497 shares during the period. Atlantic Edge Private Wealth Management LLC purchased a new position in Stryker in the fourth quarter valued at $1,561,000. Consolidated Planning Corp purchased a new stake in shares of Stryker during the 4th quarter worth about $205,000. Meritage Portfolio Management acquired a new stake in shares of Stryker during the 4th quarter valued at about $569,000. Finally, Patton Albertson Miller Group LLC increased its stake in shares of Stryker by 23.7% in the 4th quarter. Patton Albertson Miller Group LLC now owns 17,825 shares of the medical technology company’s stock valued at $5,338,000 after purchasing an additional 3,415 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.90% of the stock is currently owned by insiders.

Stryker Trading Down 0.5 %

Shares of Stryker stock traded down $1.61 during mid-day trading on Friday, hitting $331.56. The stock had a trading volume of 1,738,648 shares, compared to its average volume of 1,432,445. The firm has a 50-day moving average of $338.87 and a two-hundred day moving average of $339.79. The firm has a market cap of $126.35 billion, a P/E ratio of 37.85, a price-to-earnings-growth ratio of 2.56 and a beta of 0.89. The company has a quick ratio of 0.99, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $361.41.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share 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 company had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the business posted $2.54 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. Sell-side analysts forecast that Stryker Co. will post 11.99 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were given a $0.80 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a yield of 0.97%. Stryker’s payout ratio is currently 36.53%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Barclays boosted their price objective on Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research report on Thursday. Morgan Stanley upped their price objective on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. UBS Group lifted their target price on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research report on Wednesday. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $386.00 price objective on shares of Stryker in a report on Wednesday. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $373.11.

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.