Clear Rock Advisors LLC Raises Stock Holdings in Stryker Co. (NYSE:SYK)

Clear Rock Advisors LLC grew its stake in shares of Stryker Co. (NYSE:SYK) by 1.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,426 shares of the medical technology company’s stock after buying an additional 140 shares during the period. Stryker accounts for 1.5% of Clear Rock Advisors LLC’s portfolio, making the stock its 16th biggest holding. Clear Rock Advisors LLC’s holdings in Stryker were worth $3,547,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in SYK. Global Assets Advisory LLC bought a new stake in shares of Stryker during the 1st quarter valued at $341,049,000. JPMorgan Chase & Co. raised its holdings in Stryker by 10.4% during the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after acquiring an additional 813,311 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Stryker by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after acquiring an additional 642,178 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in shares of Stryker by 146.9% in the first quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock worth $314,449,000 after acquiring an additional 522,817 shares during the period. Finally, American Century Companies Inc. raised its stake in Stryker by 287.6% during the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock valued at $172,033,000 after purchasing an additional 375,166 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday. Needham & Company LLC upped their target price on shares of Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. BTIG Research lifted their price target on shares of Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Barclays increased their price objective on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Morgan Stanley lifted their target price on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $379.37.

Insider Transactions at Stryker

In other news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the sale, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Viju Menon sold 600 shares of the firm’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 sale, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,685,213.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 220,068 shares of company stock valued at $71,811,372. 5.90% of the stock is currently owned by corporate insiders.

Stryker Stock Down 1.1 %

Shares of SYK opened at $357.36 on Wednesday. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $374.63. The firm has a fifty day moving average price of $348.60 and a 200-day moving average price of $343.04. The firm has a market capitalization of $136.14 billion, a P/E ratio of 40.79, a P/E/G ratio of 2.78 and a beta of 0.91. 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 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 business had revenue of $5.42 billion for 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 company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company posted $2.54 earnings per share. Equities research analysts expect that Stryker Co. will post 12 earnings per share for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio is 36.53%.

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.