Royal Fund Management LLC Increases Stock Position in Stryker Co. (NYSE:SYK)

Royal Fund Management LLC increased its position in shares of Stryker Co. (NYSE:SYK) by 106.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Cresset Asset Management LLC grew its position in shares of Stryker by 8.2% during the fourth quarter. Cresset Asset Management LLC now owns 27,196 shares of the medical technology company’s stock worth $8,163,000 after buying an additional 2,057 shares in the last quarter. Hancock Whitney Corp increased its position in shares of Stryker by 2.7% in the 4th quarter. Hancock Whitney Corp now owns 7,009 shares of the medical technology company’s stock worth $2,099,000 after purchasing an additional 187 shares during the last quarter. Northwest Wealth Management LLC acquired a new stake in shares of Stryker in the 4th quarter valued at about $210,000. Ethic Inc. raised its stake in shares of Stryker by 3.8% in the 4th quarter. Ethic Inc. now owns 33,794 shares of the medical technology company’s stock valued at $10,120,000 after purchasing an additional 1,242 shares in the last quarter. Finally, Jacobi Capital Management LLC lifted its position in shares of Stryker by 6.6% during the fourth quarter. Jacobi Capital Management LLC now owns 3,597 shares of the medical technology company’s stock worth $1,077,000 after purchasing an additional 222 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was 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 owns 2,852 shares in the company, valued at $949,716. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at $3,685,213.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 220,068 shares of company stock valued at $71,811,372. 5.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on SYK shares. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Needham & Company LLC raised their price objective on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Wolfe Research initiated coverage on shares of Stryker in a research note on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price for the company. Morgan Stanley raised their price target 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. Finally, BTIG Research boosted their price objective on shares of Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $379.37.

Stryker Stock Performance

Shares of SYK traded up $0.16 during trading hours on Wednesday, reaching $350.95. 24,320 shares of the company’s stock traded hands, compared to its average volume of 1,261,398. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $374.63. The business’s fifty day simple moving average is $350.43 and its two-hundred day simple moving average is $342.92. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The firm has a market capitalization of $133.69 billion, a price-to-earnings ratio of 40.05, a P/E/G ratio of 2.71 and a beta of 0.91.

Stryker (NYSE:SYK) last released 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 firm had revenue of $5.42 billion for 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%. Stryker’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company earned $2.54 EPS. 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. Shareholders of record on Monday, September 30th will be given a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.91%. Stryker’s dividend payout ratio (DPR) is 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.