Hartford Investment Management Co. Increases Stock Holdings in Stryker Co. (NYSE:SYK)

Hartford Investment Management Co. grew its position in Stryker Co. (NYSE:SYK) by 0.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,421 shares of the medical technology company’s stock after buying an additional 488 shares during the quarter. Hartford Investment Management Co.’s holdings in Stryker were worth $13,038,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Farmers National Bank purchased a new position in shares of Stryker in the first quarter valued at $25,000. Cable Hill Partners LLC purchased a new position in shares of Stryker in the first quarter valued at $30,000. RPG Investment Advisory LLC increased its position in shares of Stryker by 160.0% in the first quarter. RPG Investment Advisory LLC now owns 156 shares of the medical technology company’s stock valued at $31,000 after buying an additional 96 shares in the last quarter. Horan Capital Advisors LLC. purchased a new position in shares of Stryker in the first quarter valued at $40,000. Finally, Webster Bank N. A. increased its position in shares of Stryker by 300.0% in the second quarter. Webster Bank N. A. now owns 200 shares of the medical technology company’s stock valued at $41,000 after buying an additional 150 shares in the last quarter. Institutional investors and hedge funds own 73.26% of the company’s stock.

Stryker stock opened at $209.63 on Monday. The stock has a market cap of $79.17 billion, a PE ratio of 28.68, a PEG ratio of 2.57 and a beta of 0.85. The stock’s 50-day moving average is $206.68. Stryker Co. has a 52 week low of $144.75 and a 52 week high of $222.59. The company has a current ratio of 2.07, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, July 25th. The medical technology company reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. The firm had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.60 billion. Stryker had a return on equity of 25.98% and a net margin of 24.99%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.76 EPS. Equities research analysts predict that Stryker Co. will post 8.2 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Friday, September 27th. Stryker’s payout ratio is 28.45%.

In other Stryker news, insider Timothy J. Scannell sold 4,666 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $205.88, for a total value of $960,636.08. Following the sale, the insider now directly owns 155,963 shares of the company’s stock, valued at approximately $32,109,662.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Glenn S. Boehnlein sold 2,700 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $188.21, for a total value of $508,167.00. Following the completion of the sale, the chief financial officer now directly owns 23,333 shares in the company, valued at $4,391,503.93. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,398 shares of company stock worth $3,840,599. 7.20% of the stock is owned by corporate insiders.

SYK has been the subject of a number of research analyst reports. Credit Suisse Group raised their price target on Stryker from $232.00 to $237.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Canaccord Genuity raised their price target on Stryker from $195.00 to $233.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Cantor Fitzgerald raised their price target on Stryker from $190.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Morgan Stanley raised their price target on Stryker from $218.00 to $230.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Finally, Barclays set a $226.00 price target on Stryker and gave the company a “buy” rating in a research report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Stryker currently has an average rating of “Buy” and an average price target of $214.89.

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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