Chronos Wealth Management LLC Has $6.24 Million Position in Stryker Co. (NYSE:SYK)

Chronos Wealth Management LLC boosted its holdings in shares of Stryker Co. (NYSE:SYK) by 1.4% in the second quarter, Holdings Channel reports. The firm owned 18,349 shares of the medical technology company’s stock after purchasing an additional 246 shares during the quarter. Stryker comprises about 3.5% of Chronos Wealth Management LLC’s portfolio, making the stock its 13th biggest holding. Chronos Wealth Management LLC’s holdings in Stryker were worth $6,243,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of SYK. Aspen Investment Management Inc lifted its holdings in shares of Stryker by 0.7% during the first quarter. Aspen Investment Management Inc now owns 4,368 shares of the medical technology company’s stock valued at $1,563,000 after acquiring an additional 31 shares during the period. Harbor Investment Advisory LLC raised its position in Stryker by 0.4% in the 1st quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock valued at $2,499,000 after purchasing an additional 31 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in shares of Stryker by 2.4% during the first quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock worth $507,000 after purchasing an additional 33 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Stryker by 4.0% in the second quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock valued at $294,000 after buying an additional 33 shares during the last quarter. Finally, Stanley Laman Group Ltd. grew its holdings in 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 last quarter. Institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the subject of a number of research reports. Wolfe Research assumed coverage on shares of Stryker in a report on Tuesday. They issued an “outperform” rating and a $405.00 price target for the company. Barclays raised their price target on Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. UBS Group boosted their price objective on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Needham & Company LLC raised their target price on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus cut their price objective 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. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $378.58.

Stryker Stock Up 0.6 %

Shares of SYK opened at $370.17 on Friday. The firm has a market cap of $141.06 billion, a P/E ratio of 42.26, a price-to-earnings-growth ratio of 2.84 and a beta of 0.91. 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 Co. has a 52 week low of $249.98 and a 52 week high of $374.24. The firm’s 50-day simple moving average is $342.26 and its 200 day simple moving average is $342.51.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.40 billion. Stryker’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.54 earnings per share. On average, analysts forecast that Stryker Co. will post 12 earnings per share 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 yield of 0.86%. Stryker’s dividend payout ratio is presently 36.53%.

Insider Activity

In related news, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated 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 owns 9,069 shares of the company’s stock, valued at $3,219,495. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of Stryker 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 transaction, the director now owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The disclosure for this sale can be found here. In the last three months, insiders sold 210,600 shares of company stock worth $68,330,400. 5.90% of the stock is currently owned by company insiders.

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.