Connors Investor Services Inc. Has $13.09 Million Stock Position in Stryker Co. (NYSE:SYK)

Connors Investor Services Inc. lifted its position in Stryker Co. (NYSE:SYK) by 45.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,469 shares of the medical technology company’s stock after buying an additional 12,073 shares during the quarter. Connors Investor Services Inc.’s holdings in Stryker were worth $13,089,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Koshinski Asset Management Inc. acquired a new position in shares of Stryker during the first quarter valued at about $795,000. Envestnet Portfolio Solutions Inc. increased its position in shares of Stryker by 43.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock worth $6,617,000 after purchasing an additional 5,565 shares in the last quarter. Norden Group LLC bought a new position in Stryker during the 1st quarter valued at about $4,027,000. International Assets Investment Management LLC acquired a new position in Stryker in the first quarter valued at about $21,970,000. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in Stryker by 38.5% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock worth $7,084,000 after buying an additional 5,502 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SYK has been the topic of several recent analyst reports. UBS Group boosted their target price on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Stifel Nicolaus reduced their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Evercore ISI dropped their target price on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Barclays increased their price target on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research note on Thursday, August 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. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average target price of $378.58.

Insider Buying and Selling

In other Stryker news, insider Viju Menon sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Viju Menon sold 600 shares of Stryker stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The disclosure for this sale can be found here. Insiders sold 210,600 shares of company stock valued at $68,330,400 over the last 90 days. Company insiders own 5.90% of the company’s stock.

Stryker Trading Up 0.5 %

SYK stock opened at $371.97 on Tuesday. The stock has a market cap of $141.70 billion, a price-to-earnings ratio of 42.46, 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 current ratio of 1.68 and a quick ratio of 0.95. Stryker Co. has a one year low of $249.98 and a one year high of $374.63. The company has a fifty day moving average price of $343.03 and a two-hundred day moving average price of $342.53.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period in the previous year, the firm earned $2.54 earnings per share. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. Equities analysts anticipate that Stryker Co. will post 12 EPS for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders 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 dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio is 36.53%.

Stryker Company 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.