Stryker Co. (NYSE:SYK) Stock Holdings Increased by OFI Invest Asset Management

OFI Invest Asset Management grew its holdings in shares of Stryker Co. (NYSE:SYK) by 3,210.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,344 shares of the medical technology company’s stock after purchasing an additional 3,243 shares during the period. OFI Invest Asset Management’s holdings in Stryker were worth $1,062,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Unique Wealth LLC increased its holdings in shares of Stryker by 18.5% during the 2nd quarter. Unique Wealth LLC now owns 5,299 shares of the medical technology company’s stock worth $1,803,000 after purchasing an additional 829 shares during the period. Everpar Advisors LLC acquired a new position in shares of Stryker during the 2nd quarter worth about $227,000. Brookstone Capital Management grew its position in shares of Stryker by 6.7% in the 2nd quarter. Brookstone Capital Management now owns 2,437 shares of the medical technology company’s stock valued at $816,000 after acquiring an additional 152 shares during the period. Stanley Laman Group Ltd. boosted its stake in shares of Stryker by 4.6% during the 2nd quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after acquiring an additional 33 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of Stryker by 6.3% during the 2nd quarter. Blue Trust Inc. now owns 6,294 shares of the medical technology company’s stock worth $2,253,000 after buying an additional 371 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Price Performance

Shares of SYK stock traded up $3.72 during midday trading on Friday, reaching $337.89. 838,749 shares of the company were exchanged, compared to its average volume of 1,319,095. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41. The company has a market cap of $128.76 billion, a P/E ratio of 38.57, a PEG ratio of 2.57 and a beta of 0.89. The company’s 50 day moving average price is $335.82 and its two-hundred day moving average price is $340.76. 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 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 firm had revenue of $5.42 billion during 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 revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.54 EPS. On average, sell-side analysts expect that Stryker Co. will post 11.99 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently declared 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 is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.95%. Stryker’s dividend payout ratio is 36.53%.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the transaction, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at approximately $949,716. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on SYK shares. Stifel Nicolaus cut their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Robert W. Baird upped their target price on shares of Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Evercore ISI cut their target price on Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Morgan Stanley raised their price objective on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Finally, BTIG Research lowered their target price on shares of Stryker from $372.00 to $360.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $373.11.

Stryker 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.