Pinnacle West Asset Management Inc. Invests $258,000 in Stryker Co. (NYSE:SYK)

Pinnacle West Asset Management Inc. acquired a new position in shares of Stryker Co. (NYSE:SYK) during the 3rd quarter, Holdings Channel reports. The firm acquired 715 shares of the medical technology company’s stock, valued at approximately $258,000.

Several other institutional investors also recently modified their holdings of the company. Grimes & Company Inc. increased its stake in shares of Stryker by 0.4% during the 3rd quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock worth $2,977,000 after purchasing an additional 33 shares during the last quarter. CENTRAL TRUST Co increased its stake in shares of Stryker by 0.9% during the 3rd quarter. CENTRAL TRUST Co now owns 14,742 shares of the medical technology company’s stock worth $5,326,000 after purchasing an additional 127 shares during the last quarter. Beese Fulmer Investment Management Inc. increased its stake in shares of Stryker by 0.8% during the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 42,193 shares of the medical technology company’s stock worth $15,243,000 after purchasing an additional 328 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Stryker by 60.8% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 9,116 shares of the medical technology company’s stock worth $3,293,000 after buying an additional 3,447 shares during the period. Finally, Patrick M Sweeney & Associates Inc. boosted its holdings in shares of Stryker by 1.5% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock worth $793,000 after buying an additional 32 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 190,000 shares of the 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 transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Viju Menon sold 600 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 220,068 shares of company stock worth $71,811,372 over the last three months. 5.90% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently commented on SYK. BTIG Research lifted their target price on shares of Stryker from $374.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 14th. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Barclays boosted their price objective on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Morgan Stanley boosted their price objective on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Finally, Evercore ISI boosted their price objective on shares of Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $381.16.

Stryker Trading Down 0.3 %

NYSE SYK traded down $1.17 on Thursday, hitting $362.07. The company’s stock had a trading volume of 141,903 shares, compared to its average volume of 1,245,020. 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 Co. has a 1-year low of $255.22 and a 1-year high of $374.63. The company’s 50-day moving average is $357.99 and its 200 day moving average is $343.59. The firm has a market cap of $137.93 billion, a PE ratio of 41.72, a PEG ratio of 2.83 and a beta of 0.91.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share 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 company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the prior year, the company posted $2.54 earnings per share. Stryker’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, analysts predict that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

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

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.