IFG Advisory LLC Invests $954,000 in Stryker Co. (NYSE:SYK)

IFG Advisory LLC purchased a new stake in Stryker Co. (NYSE:SYK) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,803 shares of the medical technology company’s stock, valued at approximately $954,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Precision Wealth Strategies LLC lifted its stake in shares of Stryker by 2.1% in the 4th quarter. Precision Wealth Strategies LLC now owns 3,114 shares of the medical technology company’s stock valued at $933,000 after purchasing an additional 65 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Stryker by 2.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 169,527 shares of the medical technology company’s stock worth $50,767,000 after acquiring an additional 3,632 shares in the last quarter. M&T Bank Corp increased its holdings in shares of Stryker by 0.3% during the 4th quarter. M&T Bank Corp now owns 49,597 shares of the medical technology company’s stock valued at $14,852,000 after acquiring an additional 168 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in shares of Stryker by 3.8% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 4,950 shares of the medical technology company’s stock valued at $1,482,000 after acquiring an additional 183 shares in the last quarter. Finally, Axxcess Wealth Management LLC lifted its holdings in Stryker by 296.1% in the 4th quarter. Axxcess Wealth Management LLC now owns 4,931 shares of the medical technology company’s stock worth $1,477,000 after purchasing an additional 3,686 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Performance

Stryker stock opened at $360.42 on Friday. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $361.41. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The stock has a fifty day moving average price of $337.13 and a two-hundred day moving average price of $341.57. The firm has a market capitalization of $137.35 billion, a P/E ratio of 41.14, a P/E/G ratio of 2.78 and a beta of 0.89.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.02. The firm 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% on a year-over-year basis. During the same period last year, the firm posted $2.54 EPS. As a group, analysts anticipate that Stryker Co. will post 12 EPS for the current fiscal 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. The ex-dividend date is Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.89%. Stryker’s payout ratio is 36.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. Evercore ISI cut their price objective on Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Morgan Stanley increased their price target on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. BTIG Research boosted their price objective on shares of Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, UBS Group increased their target price on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and a consensus price target of $373.84.

Insiders Place Their Bets

In other news, insider Viju Menon sold 600 shares of the firm’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 completion of the sale, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 value of $6,660,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,852 shares in the company, valued at $949,716. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Viju Menon sold 600 shares of the firm’s 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 completion of the sale, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 210,600 shares of company stock valued at $68,330,400. 5.90% of the stock is currently owned by corporate insiders.

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.