Primecap Management Co. CA Boosts Position in Stryker Co. (NYSE:SYK)

Primecap Management Co. CA increased its position in Stryker Co. (NYSE:SYK) by 0.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 447,500 shares of the medical technology company’s stock after acquiring an additional 1,400 shares during the quarter. Primecap Management Co. CA owned about 0.12% of Stryker worth $152,262,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Precision Wealth Strategies LLC increased its position in shares of Stryker by 2.1% in the fourth quarter. Precision Wealth Strategies LLC now owns 3,114 shares of the medical technology company’s stock worth $933,000 after purchasing an additional 65 shares during the last quarter. Gryphon Financial Partners LLC bought a new position in shares of Stryker in the 4th quarter worth $348,000. Level Four Advisory Services LLC raised its position in shares of Stryker by 31.0% during the 4th quarter. Level Four Advisory Services LLC now owns 1,204 shares of the medical technology company’s stock valued at $361,000 after buying an additional 285 shares in the last quarter. TrinityPoint Wealth LLC lifted its holdings in shares of Stryker by 2.5% during the 4th quarter. TrinityPoint Wealth LLC now owns 2,841 shares of the medical technology company’s stock worth $851,000 after acquiring an additional 70 shares during the last quarter. Finally, Gladstone Institutional Advisory LLC grew its position in Stryker by 10.3% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 1,798 shares of the medical technology company’s stock worth $539,000 after acquiring an additional 168 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of SYK stock opened at $364.00 on Wednesday. The firm has a market capitalization of $138.71 billion, a price-to-earnings ratio of 41.55, a PEG ratio of 2.87 and a beta of 0.91. The stock has a fifty day moving average of $343.60 and a 200 day moving average of $342.61. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $374.63. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping 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 firm 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 company’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, research analysts expect that Stryker Co. will post 12 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a dividend of $0.80 per share. The ex-dividend date is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.88%. Stryker’s dividend payout ratio (DPR) is 36.53%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Needham & Company LLC raised their price target on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Royal Bank of Canada restated an “outperform” rating and issued a $386.00 target price on shares of Stryker in a research report on Wednesday, July 31st. UBS Group increased their price target on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a report on Monday. Finally, Barclays lifted their target price on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $378.58.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the sale, the director now owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. The disclosure for this sale can be found here. In the last quarter, insiders sold 220,068 shares of company stock valued at $71,811,372. Corporate insiders own 5.90% of the company’s stock.

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.