SPC Financial Inc. Increases Stock Holdings in Stryker Co. (NYSE:SYK)

SPC Financial Inc. grew its holdings in shares of Stryker Co. (NYSE:SYK) by 4.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,043 shares of the medical technology company’s stock after purchasing an additional 47 shares during the period. SPC Financial Inc.’s holdings in Stryker were worth $377,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Global Assets Advisory LLC acquired a new stake in Stryker during the 1st quarter worth approximately $341,049,000. JPMorgan Chase & Co. increased its position in shares of Stryker by 10.4% during the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after acquiring an additional 813,311 shares during the period. 1832 Asset Management L.P. raised 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 valued at $314,449,000 after acquiring an additional 522,817 shares in the last quarter. American Century Companies Inc. boosted its holdings in Stryker by 287.6% in the second 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. Finally, Vanguard Group Inc. grew its stake in Stryker by 1.0% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SYK shares. Wolfe Research assumed coverage on Stryker in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price target on the stock. Morgan Stanley lifted their price target on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Stifel Nicolaus dropped their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Evercore ISI boosted their target price on shares of Stryker from $365.00 to $380.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $386.00 price target on shares of Stryker in a research note on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $381.16.

Insider Transactions at Stryker

In related news, insider Viju Menon sold 600 shares of Stryker stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value 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 $949,716. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Viju Menon sold 600 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 220,068 shares of company stock worth $71,811,372 over the last 90 days. 5.90% of the stock is currently owned by insiders.

Stryker Stock Down 0.4 %

SYK stock opened at $359.76 on Friday. The company has a market cap of $137.05 billion, a price-to-earnings ratio of 41.07, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. The company has a fifty day moving average price of $354.96 and a 200 day moving average price of $343.20. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. Stryker Co. has a 12 month low of $255.22 and a 12 month high of $374.63.

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

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s payout ratio is currently 36.53%.

Stryker Company 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.