Alaethes Wealth LLC Buys Shares of 4,098 Stryker Co. (NYSE:SYK)

Alaethes Wealth LLC purchased a new position in Stryker Co. (NYSE:SYK) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 4,098 shares of the medical technology company’s stock, valued at approximately $1,398,000.

Several other institutional investors and hedge funds have also modified their holdings of SYK. Transatlantique Private Wealth LLC lifted its position in Stryker by 4.6% during the second quarter. Transatlantique Private Wealth LLC now owns 902 shares of the medical technology company’s stock valued at $307,000 after purchasing an additional 40 shares in the last quarter. Summit Trail Advisors LLC lifted its position in shares of Stryker by 3.0% during the 2nd quarter. Summit Trail Advisors LLC now owns 5,053 shares of the medical technology company’s stock valued at $1,723,000 after buying an additional 148 shares in the last quarter. Chesapeake Wealth Management purchased a new position in Stryker during the second quarter valued at approximately $291,000. Thrivent Financial for Lutherans lifted its stake in shares of Stryker by 69.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 87,244 shares of the medical technology company’s stock valued at $29,685,000 after buying an additional 35,833 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Stryker by 4.0% in the second quarter. Sei Investments Co. now owns 168,336 shares of the medical technology company’s stock worth $57,271,000 after acquiring an additional 6,443 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. The Goldman Sachs Group assumed coverage on Stryker in a report on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price target on the stock. Morgan Stanley upped their target price 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. Stifel Nicolaus reduced their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. BTIG Research increased their price objective on shares of Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Finally, Barclays lifted their target price on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $378.58.

Stryker Price Performance

Stryker stock opened at $364.81 on Friday. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $374.63. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $345.12 and a 200-day moving average price of $342.96. The firm has a market capitalization of $139.02 billion, a PE ratio of 41.64, a price-to-earnings-growth ratio of 2.87 and a beta of 0.91.

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

Stryker Announces Dividend

The firm also recently disclosed 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. This represents a $3.20 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Insiders Place Their Bets

In other news, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,715,540. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Viju Menon sold 600 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now directly 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 can be accessed through this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. The disclosure for this sale can be found here. Insiders have sold a total of 220,068 shares of company stock worth $71,811,372 over the last quarter. Company insiders own 5.90% of the company’s stock.

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.