Meeder Advisory Services Inc. Raises Stock Position in Stryker Co. (NYSE:SYK)

Meeder Advisory Services Inc. increased its stake in Stryker Co. (NYSE:SYK) by 63.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 9,062 shares of the medical technology company’s stock after buying an additional 3,531 shares during the period. Meeder Advisory Services Inc.’s holdings in Stryker were worth $3,083,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale boosted its holdings in Stryker by 7.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 798,347 shares of the medical technology company’s stock worth $271,846,000 after purchasing an additional 52,744 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in Stryker by 1.0% in the second quarter. Oppenheimer & Co. Inc. now owns 20,875 shares of the medical technology company’s stock worth $7,103,000 after purchasing an additional 214 shares during the last quarter. Main Street Financial Solutions LLC boosted its holdings in Stryker by 19.8% in the second quarter. Main Street Financial Solutions LLC now owns 709 shares of the medical technology company’s stock worth $241,000 after purchasing an additional 117 shares during the last quarter. Trueblood Wealth Management LLC boosted its holdings in Stryker by 24.9% in the second quarter. Trueblood Wealth Management LLC now owns 2,641 shares of the medical technology company’s stock worth $899,000 after purchasing an additional 527 shares during the last quarter. Finally, PFG Advisors boosted its holdings in Stryker by 1.4% in the second quarter. PFG Advisors now owns 12,225 shares of the medical technology company’s stock worth $4,160,000 after purchasing an additional 174 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insiders Place Their Bets

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Viju Menon sold 600 shares of Stryker 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 of the company’s stock, valued at $3,219,495. The disclosure for this sale can be found here. Insiders sold 210,600 shares of company stock valued at $68,330,400 in the last three months. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Performance

SYK opened at $367.79 on Friday. The stock has a market capitalization of $140.16 billion, a price-to-earnings ratio of 41.99, a PEG ratio of 2.83 and a beta of 0.91. The company has a fifty day moving average of $341.61 and a 200 day moving average of $342.38. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $368.89. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68.

Stryker (NYSE:SYK) last issued its quarterly earnings data 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. 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 last year, the company posted $2.54 EPS. The business’s revenue was up 8.5% on a year-over-year basis. As a group, sell-side analysts forecast that Stryker Co. will post 12 earnings per share 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 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 0.87%. Stryker’s payout ratio is currently 36.53%.

Wall Street Analyst Weigh In

Several research firms have weighed in on SYK. Royal Bank of Canada reiterated an “outperform” rating and issued a $386.00 price target on shares of Stryker in a research report on Wednesday, July 31st. BTIG Research increased their price target on shares of Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Wolfe Research began coverage on shares of Stryker in a research report on Tuesday. They issued an “outperform” rating and a $405.00 price target on the stock. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. Finally, The Goldman Sachs Group began coverage on shares of Stryker in a research report on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $378.58.

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.