Stryker Co. (NYSE:SYK) Shares Purchased by Magnetar Financial LLC

Magnetar Financial LLC raised its holdings in shares of Stryker Co. (NYSE:SYK) by 71.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,714 shares of the medical technology company’s stock after buying an additional 1,554 shares during the period. Magnetar Financial LLC’s holdings in Stryker were worth $1,264,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Koshinski Asset Management Inc. acquired a new stake in Stryker in the 1st quarter valued at $795,000. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Stryker by 43.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock valued at $6,617,000 after buying an additional 5,565 shares during the period. Norden Group LLC acquired a new position in Stryker during the 1st quarter worth approximately $4,027,000. International Assets Investment Management LLC purchased a new position in Stryker in the 1st quarter worth approximately $21,970,000. Finally, BI Asset Management Fondsmaeglerselskab A S grew its position in Stryker by 38.5% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock valued at $7,084,000 after acquiring an additional 5,502 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Stryker 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 completion of the transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Stryker 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 sale, the chief financial officer now owns 2,852 shares of the company’s stock, valued at approximately $949,716. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The disclosure for this sale can be found here. Insiders have sold a total of 220,068 shares of company stock valued at $71,811,372 in the last quarter. Company insiders own 5.90% of the company’s stock.

Stryker Price Performance

SYK opened at $366.53 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $345.88 and its 200 day moving average price is $342.87. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $374.63. The firm has a market cap of $139.63 billion, a price-to-earnings ratio of 41.84, a price-to-earnings-growth ratio of 2.87 and a beta of 0.91.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping 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 business had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the prior year, the firm earned $2.54 EPS. The business’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, sell-side analysts expect that Stryker Co. will post 12 earnings per share for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.80 per share. The ex-dividend date is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.87%. Stryker’s dividend payout ratio is currently 36.53%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Needham & Company LLC upped their target price 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. Barclays upped their price objective on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Wolfe Research assumed coverage on Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price on the stock. Truist Financial reduced their price target on Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $386.00 price objective on shares of Stryker in a report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.