1,093 Shares in Stryker Co. (NYSE:SYK) Purchased by STAR Financial Bank

STAR Financial Bank purchased a new stake in Stryker Co. (NYSE:SYK) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 1,093 shares of the medical technology company’s stock, valued at approximately $372,000.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in Stryker in the 4th quarter valued at $1,260,562,000. Global Assets Advisory LLC bought a new position in Stryker during the first quarter worth about $341,049,000. JPMorgan Chase & Co. raised its stake in Stryker by 10.4% in 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 boosted its holdings 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 during the period. Finally, 1832 Asset Management L.P. grew its position in shares of Stryker by 146.9% during the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock worth $314,449,000 after purchasing an additional 522,817 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Stryker

In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’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 completion of the transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, 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 the business’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 owns 2,852 shares in the company, valued at approximately $949,716. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Viju Menon sold 600 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 210,600 shares of company stock worth $68,330,400. Company insiders own 5.90% of the company’s stock.

Stryker Trading Up 0.6 %

Shares of SYK stock opened at $365.10 on Wednesday. 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 firm has a market capitalization of $139.13 billion, a P/E ratio of 41.68, a P/E/G ratio of 2.77 and a beta of 0.91. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $365.96. The stock’s fifty day simple moving average is $340.21 and its 200 day simple moving average is $342.04.

Stryker (NYSE:SYK) last released its quarterly earnings results 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. The company had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.54 earnings per share. As a group, sell-side analysts predict that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s payout ratio is currently 36.53%.

Analysts Set New Price Targets

SYK has been the subject of several recent research reports. Needham & Company LLC boosted their price target on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. The Goldman Sachs Group initiated coverage on Stryker in a research note on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price target for the company. Stifel Nicolaus reduced their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $386.00 target price on shares of Stryker in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.58.

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.