Chicago Capital LLC Grows Stock Holdings in Stryker Co. (NYSE:SYK)

Chicago Capital LLC lifted its stake in shares of Stryker Co. (NYSE:SYK) by 1.9% during the second quarter, HoldingsChannel.com reports. The fund owned 185,198 shares of the medical technology company’s stock after buying an additional 3,392 shares during the quarter. Stryker makes up approximately 1.9% of Chicago Capital LLC’s investment portfolio, making the stock its 18th biggest holding. Chicago Capital LLC’s holdings in Stryker were worth $63,014,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Precision Wealth Strategies LLC raised its holdings in shares of Stryker by 2.1% in the fourth quarter. Precision Wealth Strategies LLC now owns 3,114 shares of the medical technology company’s stock valued at $933,000 after acquiring an additional 65 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new position in Stryker during the fourth quarter valued at approximately $222,000. Private Advisor Group LLC raised its stake in Stryker by 9.1% in the fourth quarter. Private Advisor Group LLC now owns 14,658 shares of the medical technology company’s stock worth $4,390,000 after buying an additional 1,224 shares in the last quarter. Gryphon Financial Partners LLC purchased a new stake in Stryker during the fourth quarter worth $348,000. Finally, Principal Securities Inc. bought a new stake in Stryker during the 4th quarter valued at $1,371,000. Institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

SYK has been the subject of several recent research reports. Stifel Nicolaus reduced their price target on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. 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 shares of Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Morgan Stanley increased their target price on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $386.00 price target on shares of Stryker in a report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $377.11.

Insider Buying and Selling

In other Stryker news, insider Viju Menon sold 600 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Viju Menon sold 600 shares of the business’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 transaction, 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 SEC, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the sale, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The disclosure for this sale can be found here. Insiders have sold a total of 210,600 shares of company stock valued at $68,330,400 over the last ninety days. Company insiders own 5.90% of the company’s stock.

Stryker Stock Performance

NYSE SYK traded up $0.92 during trading hours on Friday, reaching $358.92. The stock had a trading volume of 1,001,435 shares, compared to its average volume of 1,295,614. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $364.36. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. The stock has a market cap of $136.78 billion, a P/E ratio of 40.97, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. The stock has a fifty day moving average of $339.06 and a 200 day moving average of $341.98.

Stryker (NYSE:SYK) last released its quarterly earnings data 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 firm 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 business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.54 earnings per share. Sell-side analysts predict that Stryker Co. will post 12 earnings per share for the current year.

Stryker Dividend Announcement

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 paid a $0.80 dividend. 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 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.