Chicago Capital LLC Increases Holdings in Stryker Co. (NYSE:SYK)

Chicago Capital LLC increased its holdings in shares of Stryker Co. (NYSE:SYK) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 189,211 shares of the medical technology company’s stock after purchasing an additional 4,013 shares during the quarter. Stryker makes up 1.9% of Chicago Capital LLC’s portfolio, making the stock its 19th biggest holding. Chicago Capital LLC’s holdings in Stryker were worth $68,354,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Centennial Bank AR grew its holdings in Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after buying an additional 48 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in Stryker during the first quarter valued at $39,000. HBW Advisory Services LLC bought a new stake in Stryker in the 3rd quarter valued at $42,000. Grove Bank & Trust lifted its stake in Stryker by 84.8% in the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 56 shares in the last quarter. Finally, Sachetta LLC grew its position in shares of Stryker by 16.3% during 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 in the last quarter. Institutional investors own 77.09% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the sale, the director now owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the sale, the chief financial officer now directly owns 2,852 shares in the company, valued at $949,716. This trade represents 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 worth $71,811,372 in the last three months. Corporate insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on SYK shares. Stifel Nicolaus decreased their target price on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Barclays increased their target price on Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. BTIG Research boosted their price target on shares of Stryker from $374.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Needham & Company LLC upped their price target 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, Truist Financial lifted their price objective on shares of Stryker from $345.00 to $370.00 and gave the stock a “hold” rating in a research note on Monday, October 14th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $381.16.

Stryker Trading Up 2.7 %

Shares of SYK opened at $369.56 on Friday. The firm has a market capitalization of $140.83 billion, a price-to-earnings ratio of 41.20, a PEG ratio of 2.85 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. Stryker Co. has a 1-year low of $255.22 and a 1-year high of $374.63. The company has a 50-day moving average of $355.79 and a 200 day moving average of $343.26.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, beating 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 return on equity of 22.89% and a net margin of 16.12%. Stryker’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.54 earnings per share. On average, research analysts expect that Stryker Co. will post 12 EPS for the current year.

Stryker Announces Dividend

The firm 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 $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 35.67%.

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.