Kaydan Wealth Management Inc. Has $2.05 Million Stake in Stryker Co. (NYSE:SYK)

Kaydan Wealth Management Inc. lowered its stake in shares of Stryker Co. (NYSE:SYK) by 0.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,675 shares of the medical technology company’s stock after selling 43 shares during the period. Stryker makes up 0.6% of Kaydan Wealth Management Inc.’s portfolio, making the stock its 24th biggest position. Kaydan Wealth Management Inc.’s holdings in Stryker were worth $2,050,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Koshinski Asset Management Inc. acquired a new stake in Stryker during the 1st quarter worth $795,000. Envestnet Portfolio Solutions Inc. raised its position in shares of Stryker by 43.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock worth $6,617,000 after purchasing an additional 5,565 shares during the period. Norden Group LLC bought a new position in shares of Stryker during the 1st quarter valued at about $4,027,000. International Assets Investment Management LLC acquired a new position in shares of Stryker in the 1st quarter valued at approximately $21,970,000. Finally, BI Asset Management Fondsmaeglerselskab A S increased its stake in Stryker by 38.5% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock worth $7,084,000 after purchasing an additional 5,502 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Up 0.7 %

Shares of SYK stock opened at $361.38 on Thursday. Stryker Co. has a 52-week low of $255.22 and a 52-week high of $374.63. The stock has a market cap of $137.67 billion, a price-to-earnings ratio of 41.25, a PEG ratio of 2.78 and a beta of 0.91. The firm’s 50-day moving average is $354.28 and its 200-day moving average is $343.09. 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 released its quarterly earnings data 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. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the prior year, the company earned $2.54 earnings per share. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. Sell-side analysts predict that Stryker Co. will post 12 EPS for the current year.

Stryker Announces Dividend

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

Insider Transactions at Stryker

In related news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,715,540. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Viju Menon sold 600 shares of Stryker 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 sale, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 220,068 shares of company stock worth $71,811,372. 5.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on SYK. Barclays upped their price target on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $386.00 target price on shares of Stryker in a report on Wednesday, July 31st. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Wolfe Research started coverage on Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective for the company. Finally, UBS Group lifted their target price on Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research report 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $381.16.

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.