DRW Securities LLC Invests $528,000 in Stryker Co. (NYSE:SYK)

DRW Securities LLC bought a new stake in Stryker Co. (NYSE:SYK) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,551 shares of the medical technology company’s stock, valued at approximately $528,000.

A number of other institutional investors have also recently added to or reduced their stakes in SYK. Aspen Investment Management Inc boosted its position in 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 during the period. Harbor Investment Advisory LLC raised its stake in shares of Stryker by 0.4% during the first quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock valued at $2,499,000 after purchasing an additional 31 shares during the period. Proficio Capital Partners LLC lifted its position in shares of Stryker by 2.4% during the first 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 boosted its position in Stryker by 4.0% in the 2nd quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock valued at $294,000 after buying an additional 33 shares during the last quarter. Finally, Stanley Laman Group Ltd. grew its stake in shares of Stryker by 4.6% during the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock valued at $256,000 after acquiring an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on SYK. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a report on Monday, September 16th. Stifel Nicolaus dropped their target price on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Needham & Company LLC upped their price objective on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Royal Bank of Canada reissued an “outperform” rating and set a $386.00 price target on shares of Stryker in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group began coverage on shares of Stryker in a report on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price objective for the company. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $378.58.

Stryker Price Performance

SYK stock 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 firm has a market capitalization of $139.63 billion, a PE ratio of 41.84, a P/E/G ratio of 2.87 and a beta of 0.91. Stryker Co. has a one year low of $249.98 and a one year high of $374.63. The firm has a 50-day moving average of $345.88 and a two-hundred day moving average of $342.87.

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

Stryker Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Viju Menon sold 600 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Viju Menon sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The disclosure for this sale can be found here. In the last ninety days, insiders sold 220,068 shares of company stock worth $71,811,372. 5.90% of the stock is currently owned by company insiders.

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.