Stryker Co. (NYSE:SYK) Shares Bought by Ritholtz Wealth Management

Ritholtz Wealth Management boosted its position in shares of Stryker Co. (NYSE:SYK) by 6.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,140 shares of the medical technology company’s stock after acquiring an additional 306 shares during the quarter. Ritholtz Wealth Management’s holdings in Stryker were worth $1,857,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Centennial Bank AR increased its position in Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares during the period. Central Pacific Bank Trust Division acquired a new position in Stryker during the first quarter worth approximately $39,000. HBW Advisory Services LLC acquired a new position in shares of Stryker in the third quarter valued at approximately $42,000. Sachetta LLC increased its holdings in shares of Stryker by 16.3% in the second quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock valued at $80,000 after purchasing an additional 34 shares during the period. Finally, Hazlett Burt & Watson Inc. increased its holdings in shares of Stryker by 17.9% in the first quarter. Hazlett Burt & Watson Inc. now owns 264 shares of the medical technology company’s stock valued at $94,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Up 0.6 %

SYK opened at $355.60 on Monday. The business’s fifty day moving average is $351.84 and its two-hundred day moving average is $342.94. 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 has a market cap of $135.47 billion, a price-to-earnings ratio of 40.59, a PEG ratio of 2.73 and a beta of 0.91. Stryker Co. has a one year low of $249.98 and a one year high of $374.63.

Stryker (NYSE:SYK) last issued 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. The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.54 earnings per share. Analysts anticipate that Stryker Co. will post 12 EPS for the current fiscal 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 paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s payout ratio is currently 36.53%.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction 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 sale, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction 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 sale, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 220,068 shares of company stock valued at $71,811,372 over the last quarter. Insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Evercore ISI boosted their target price on Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Barclays boosted their target price 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 target price on Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Finally, Needham & Company LLC upped their price objective on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $379.37.

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.