Ieq Capital LLC Grows Stock Position in Stryker Co. (NYSE:SYK)

Ieq Capital LLC grew its position in shares of Stryker Co. (NYSE:SYK) by 6.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,960 shares of the medical technology company’s stock after buying an additional 1,983 shares during the period. Ieq Capital LLC’s holdings in Stryker were worth $11,895,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Stryker by 1.0% during 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 during the period. Greenleaf Trust boosted its position in shares of Stryker by 0.6% in the first quarter. Greenleaf Trust now owns 18,596,387 shares of the medical technology company’s stock valued at $6,655,089,000 after acquiring an additional 108,080 shares during the period. Price T Rowe Associates Inc. MD lifted its stake 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 worth $3,755,782,000 after purchasing an additional 642,178 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings 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 valued at $3,096,078,000 after purchasing an additional 813,311 shares during the period. Finally, Fisher Asset Management LLC grew its position in shares of Stryker by 2.6% during the 4th 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 purchasing an additional 101,319 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Trading Up 1.0 %

NYSE SYK opened at $364.97 on Friday. The stock has a 50-day moving average of $344.61 and a 200-day moving average of $342.90. 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 Co. has a 1-year low of $249.98 and a 1-year high of $374.63. The firm has a market cap of $139.08 billion, a PE ratio of 41.66, a price-to-earnings-growth ratio of 2.87 and a beta of 0.91.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the prior year, the firm posted $2.54 earnings per share. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Stryker Co. will post 12 EPS for the current year.

Stryker Dividend Announcement

The company also recently disclosed 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 dividend payout ratio (DPR) is 36.53%.

Insider Transactions at Stryker

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction 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 approximately $3,715,540. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the transaction, the vice president now owns 10,042 shares in the company, valued at $3,715,540. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the sale, the director now directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 220,068 shares of company stock worth $71,811,372. Company insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SYK shares. Royal Bank of Canada reissued an “outperform” rating and set a $386.00 price objective on shares of Stryker in a research note on Wednesday, July 31st. UBS Group lifted their price target on Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Barclays upped their price objective on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Needham & Company LLC lifted their target price on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Evercore ISI decreased their price target on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $378.58.

About Stryker

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.