Investment Partners Asset Management Inc. Acquires 50 Shares of Stryker Co. (NYSE:SYK)

Investment Partners Asset Management Inc. increased its holdings in shares of Stryker Co. (NYSE:SYK) by 7.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 705 shares of the medical technology company’s stock after acquiring an additional 50 shares during the quarter. Investment Partners Asset Management Inc.’s holdings in Stryker were worth $255,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SYK. International Assets Investment Management LLC boosted its holdings in shares of Stryker by 66,967.5% during the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after acquiring an additional 852,496 shares during the period. JPMorgan Chase & Co. boosted its stake in Stryker by 10.4% in the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after purchasing an additional 813,311 shares during the period. 1832 Asset Management L.P. grew its holdings in Stryker by 146.9% in the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock valued at $314,449,000 after buying an additional 522,817 shares in the last quarter. American Century Companies Inc. increased its position in Stryker by 287.6% during the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock worth $172,033,000 after buying an additional 375,166 shares during the period. Finally, Vanguard Group Inc. increased its position in Stryker by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock worth $11,258,373,000 after buying an additional 309,592 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the topic of several research reports. BTIG Research upped their price target on shares of Stryker from $374.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $386.00 target price on shares of Stryker in a report on Wednesday, July 31st. Evercore ISI boosted their price target on Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Stifel Nicolaus lowered their price objective on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, Needham & Company LLC upped their target price on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $381.16.

Stryker Price Performance

Shares of SYK traded up $2.11 during trading hours on Monday, reaching $354.93. The stock had a trading volume of 140,751 shares, compared to its average volume of 1,242,430. The stock has a market capitalization of $135.21 billion, a PE ratio of 40.28, a PEG ratio of 2.73 and a beta of 0.91. Stryker Co. has a 12 month low of $258.33 and a 12 month high of $374.63. 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 company’s 50-day moving average is $358.80 and its two-hundred day moving average is $343.65.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates 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 period last year, the firm posted $2.54 earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. Research analysts expect 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. Investors 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 dividend on an annualized basis and a yield of 0.90%. Stryker’s payout ratio is 36.53%.

Insider Buying and Selling at Stryker

In other Stryker news, insider Viju Menon sold 600 shares of the 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 completion of the sale, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Stryker 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 completion of the sale, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP M Kathryn Fink sold 2,121 shares of the business’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 completion of the transaction, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 220,068 shares of company stock worth $71,811,372. Insiders own 5.90% of the company’s stock.

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.