Rhumbline Advisers Grows Position in Stryker Co. (NYSE:SYK)

Rhumbline Advisers boosted its position in shares of Stryker Co. (NYSE:SYK) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 675,960 shares of the medical technology company’s stock after buying an additional 9,864 shares during the period. Rhumbline Advisers owned 0.18% of Stryker worth $229,995,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Chilton Capital Management LLC boosted its stake in Stryker by 12.0% during the 2nd quarter. Chilton Capital Management LLC now owns 81,398 shares of the medical technology company’s stock worth $27,696,000 after purchasing an additional 8,747 shares during the period. Resonant Capital Advisors LLC boosted its stake in shares of Stryker by 2.2% during the second quarter. Resonant Capital Advisors LLC now owns 9,326 shares of the medical technology company’s stock worth $3,181,000 after buying an additional 201 shares during the period. Mechanics Financial Corp grew its holdings in shares of Stryker by 11.1% during the second quarter. Mechanics Financial Corp now owns 3,272 shares of the medical technology company’s stock worth $1,113,000 after buying an additional 326 shares during the last quarter. Financial Counselors Inc. increased its position in Stryker by 3.5% in the 2nd quarter. Financial Counselors Inc. now owns 36,777 shares of the medical technology company’s stock valued at $12,513,000 after acquiring an additional 1,246 shares during the period. Finally, Natixis Advisors LLC raised its stake in Stryker by 2.6% during the 2nd quarter. Natixis Advisors LLC now owns 149,231 shares of the medical technology company’s stock valued at $50,776,000 after acquiring an additional 3,716 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on SYK. Morgan Stanley boosted their target price on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Needham & Company LLC upped their price objective 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. UBS Group raised their target price on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Stifel Nicolaus dropped their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $386.00 price objective on shares of Stryker in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $373.84.

Insider Activity

In related news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the sale, the insider now owns 9,069 shares in the company, valued at $3,219,495. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Viju Menon sold 600 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the sale, 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 sold a total of 210,600 shares of company stock valued at $68,330,400 over the last 90 days. Insiders own 5.90% of the company’s stock.

Stryker Trading Up 0.7 %

Shares of Stryker stock opened at $360.42 on Tuesday. Stryker Co. has a 1 year low of $249.98 and a 1 year 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 business has a 50 day moving average price of $337.56 and a 200 day moving average price of $341.60. The company has a market capitalization of $137.30 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 released 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. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.54 earnings per share. Sell-side analysts anticipate that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Dividend Announcement

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 issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.89%. Stryker’s dividend payout ratio (DPR) is presently 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.