Sugarloaf Wealth Management LLC Boosts Holdings in Stryker Co. (NYSE:SYK)

Sugarloaf Wealth Management LLC grew its position in Stryker Co. (NYSE:SYK) by 32.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 446 shares of the medical technology company’s stock after purchasing an additional 110 shares during the quarter. Sugarloaf Wealth Management LLC’s holdings in Stryker were worth $161,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Centennial Bank AR raised its position in shares of Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Stryker in the first quarter worth $39,000. HBW Advisory Services LLC acquired a new stake in shares of Stryker during the third quarter worth $42,000. Accent Capital Management LLC purchased a new stake in shares of Stryker during the fourth quarter valued at $60,000. Finally, Sachetta LLC increased its position in shares of Stryker by 16.3% in the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock valued at $80,000 after acquiring an additional 34 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $949,716. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 220,068 shares of company stock worth $71,811,372. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Up 1.6 %

Shares of SYK opened at $350.81 on Wednesday. The firm has a market cap of $133.64 billion, a P/E ratio of 40.05, a PEG ratio of 2.71 and a beta of 0.91. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $374.63. The stock’s 50 day moving average is $350.01 and its two-hundred day moving average is $342.93. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping the consensus estimate of $2.79 by $0.02. The company had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.54 EPS. Analysts predict that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.91%. The ex-dividend date is Monday, September 30th. Stryker’s payout ratio is 36.53%.

Wall Street Analyst Weigh In

SYK has been the subject of a number of research reports. Stifel Nicolaus lowered their price target on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Evercore ISI lifted their target price on Stryker from $365.00 to $380.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Needham & Company LLC lifted their price objective on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, UBS Group upped their price objective on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $379.37.

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.