Benjamin F. Edwards & Company Inc. Raises Stock Holdings in Stryker Co. (NYSE:SYK)

Benjamin F. Edwards & Company Inc. grew its stake in Stryker Co. (NYSE:SYK) by 0.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 133,846 shares of the medical technology company’s stock after acquiring an additional 557 shares during the quarter. Stryker comprises approximately 0.8% of Benjamin F. Edwards & Company Inc.’s portfolio, making the stock its 21st biggest holding. Benjamin F. Edwards & Company Inc.’s holdings in Stryker were worth $45,541,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Burkett Financial Services LLC acquired a new position in Stryker in the fourth quarter valued at $25,000. Central Pacific Bank Trust Division acquired a new position in Stryker in the first quarter valued at $39,000. DSM Capital Partners LLC acquired a new position in Stryker in the fourth quarter valued at $34,000. Accent Capital Management LLC acquired a new position in Stryker in the fourth quarter valued at $60,000. Finally, Sachetta LLC increased its stake in Stryker by 16.3% in the second quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock valued at $80,000 after purchasing an additional 34 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SYK shares. UBS Group upped their target price on Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Needham & Company LLC upped their price target on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Morgan Stanley upped their price target on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Barclays upped their price target on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, BTIG Research upped their price target on Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $378.58.

Insider Activity

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

Stryker Trading Up 1.0 %

Shares of SYK opened at $364.97 on Friday. The company has a market capitalization of $139.08 billion, a P/E ratio of 41.66, 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 company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. The stock has a 50-day moving average price of $344.61 and a 200 day moving average price of $342.90.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 22.89% and a net margin of 16.12%. Stryker’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.54 EPS. Sell-side analysts forecast that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.88%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio 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.