IMS Capital Management Takes Position in Stryker Co. (NYSE:SYK)

IMS Capital Management acquired a new position in shares of Stryker Co. (NYSE:SYK) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 665 shares of the medical technology company’s stock, valued at approximately $228,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Stryker by 1.0% in the first quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock worth $11,258,373,000 after purchasing an additional 309,592 shares in the last quarter. Greenleaf Trust lifted its position in Stryker by 0.6% during the 1st quarter. Greenleaf Trust now owns 18,596,387 shares of the medical technology company’s stock worth $6,655,089,000 after buying an additional 108,080 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Stryker by 5.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock worth $3,755,782,000 after buying an additional 642,178 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Stryker by 10.4% in the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after acquiring an additional 813,311 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Stryker by 2.6% in the fourth quarter. Fisher Asset Management LLC now owns 4,040,310 shares of the medical technology company’s stock valued at $1,209,912,000 after acquiring an additional 101,319 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. BTIG Research increased their price target on Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Needham & Company LLC increased their price objective on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Truist Financial lowered their target price on shares of Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Royal Bank of Canada reissued an “outperform” rating and issued a $386.00 price objective on shares of Stryker in a research report on Wednesday, July 31st. Finally, Wolfe Research assumed coverage on shares of Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price for the company. 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $378.58.

Insider Buying and Selling

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

Stryker Stock Up 0.5 %

Shares of NYSE SYK opened at $361.26 on Tuesday. The stock has a market capitalization of $137.62 billion, a P/E ratio of 41.24, a PEG ratio of 2.78 and a beta of 0.91. The stock’s fifty day moving average is $348.29 and its 200 day moving average is $343.00. Stryker Co. has a 52 week low of $249.98 and a 52 week 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 issued its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.79 by $0.02. The company 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 revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.54 EPS. Sell-side analysts forecast that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Dividend Announcement

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 issued 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 dividend yield of 0.89%. Stryker’s dividend payout ratio (DPR) is currently 36.53%.

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.