Gofen & Glossberg LLC IL Raises Stake in Stryker Co. (NYSE:SYK)

Gofen & Glossberg LLC IL raised its holdings in shares of Stryker Co. (NYSE:SYK) by 71.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,799 shares of the medical technology company’s stock after purchasing an additional 4,900 shares during the quarter. Gofen & Glossberg LLC IL’s holdings in Stryker were worth $2,331,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in SYK. Westside Investment Management Inc. lifted its holdings in shares of Stryker by 38.7% during the fourth quarter. Westside Investment Management Inc. now owns 233 shares of the medical technology company’s stock worth $37,000 after buying an additional 65 shares in the last quarter. First Hawaiian Bank raised its stake in Stryker by 0.5% in the first quarter. First Hawaiian Bank now owns 12,570 shares of the medical technology company’s stock valued at $2,483,000 after purchasing an additional 67 shares in the last quarter. DAVENPORT & Co LLC raised its stake in Stryker by 1.6% in the fourth quarter. DAVENPORT & Co LLC now owns 4,340 shares of the medical technology company’s stock valued at $680,000 after purchasing an additional 70 shares in the last quarter. Wedbush Securities Inc. raised its stake in Stryker by 1.6% in the fourth quarter. Wedbush Securities Inc. now owns 4,497 shares of the medical technology company’s stock valued at $705,000 after purchasing an additional 70 shares in the last quarter. Finally, First Allied Advisory Services Inc. raised its stake in Stryker by 0.4% in the fourth quarter. First Allied Advisory Services Inc. now owns 16,700 shares of the medical technology company’s stock valued at $2,625,000 after purchasing an additional 71 shares in the last quarter. 74.67% of the stock is owned by institutional investors and hedge funds.

Stryker stock traded up $1.86 during midday trading on Friday, reaching $190.71. The company’s stock had a trading volume of 878,564 shares, compared to its average volume of 1,417,827. Stryker Co. has a 52 week low of $144.75 and a 52 week high of $199.85. The company has a quick ratio of 1.30, a current ratio of 2.12 and a debt-to-equity ratio of 0.68. The stock has a market cap of $71.15 billion, a PE ratio of 26.09, a P/E/G ratio of 2.29 and a beta of 0.84.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, April 23rd. The medical technology company reported $1.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.04. The firm had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.51 billion. Stryker had a return on equity of 26.72% and a net margin of 25.38%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.68 earnings per share. As a group, analysts expect that Stryker Co. will post 8.15 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Thursday, June 27th. Stryker’s dividend payout ratio (DPR) is currently 28.45%.

SYK has been the subject of a number of analyst reports. SunTrust Banks boosted their price target on Stryker to $205.00 and gave the company a “positive” rating in a research note on Monday, February 4th. Royal Bank of Canada boosted their price target on Stryker from $184.00 to $204.00 and gave the company an “outperform” rating in a research note on Monday, March 11th. Credit Suisse Group raised Stryker to an “outperform” rating in a research note on Thursday, January 31st. Wells Fargo & Co boosted their price target on Stryker from $214.00 to $219.00 and gave the company an “outperform” rating in a research note on Monday, April 1st. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $205.00 price target on shares of Stryker in a research note on Friday, March 1st. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $196.89.

In other news, VP M Kathryn Fink sold 180 shares of the business’s stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $176.77, for a total transaction of $31,818.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Yin C. Becker sold 15,240 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $198.03, for a total value of $3,017,977.20. Following the sale, the vice president now owns 16,577 shares in the company, valued at $3,282,743.31. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 133,134 shares of company stock worth $25,224,935. Company insiders own 7.20% of the company’s stock.

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About Stryker

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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