Ocean Capital Management LLC Has $2.74 Million Stake in Stryker Co. (NYSE:SYK)

Ocean Capital Management LLC trimmed its position in shares of Stryker Co. (NYSE:SYK) by 3.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,325 shares of the medical technology company’s stock after selling 415 shares during the quarter. Stryker makes up about 2.3% of Ocean Capital Management LLC’s investment portfolio, making the stock its 12th largest holding. Ocean Capital Management LLC’s holdings in Stryker were worth $2,739,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Stryker by 0.6% during the 1st quarter. BlackRock Inc. now owns 25,036,303 shares of the medical technology company’s stock valued at $4,945,168,000 after buying an additional 153,391 shares during the last quarter. FMR LLC lifted its holdings in Stryker by 13.4% in the 1st quarter. FMR LLC now owns 6,728,182 shares of the medical technology company’s stock worth $1,328,951,000 after purchasing an additional 793,560 shares during the last quarter. Fundsmith LLP lifted its holdings in Stryker by 1.0% in the 1st quarter. Fundsmith LLP now owns 5,581,841 shares of the medical technology company’s stock worth $1,102,525,000 after purchasing an additional 52,688 shares during the last quarter. Northern Trust Corp lifted its holdings in Stryker by 1.2% in the 1st quarter. Northern Trust Corp now owns 3,903,582 shares of the medical technology company’s stock worth $771,036,000 after purchasing an additional 46,183 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Stryker by 6.5% in the 4th quarter. Geode Capital Management LLC now owns 3,665,205 shares of the medical technology company’s stock worth $573,387,000 after purchasing an additional 224,785 shares during the last quarter. Institutional investors and hedge funds own 73.48% of the company’s stock.

In other news, CFO Glenn S. Boehnlein sold 2,700 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $214.16, for a total transaction of $578,232.00. Following the sale, the chief financial officer now directly owns 20,633 shares in the company, valued at $4,418,763.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Timothy J. Scannell sold 4,666 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $205.88, for a total value of $960,636.08. Following the sale, the insider now owns 155,963 shares in the company, valued at $32,109,662.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,431 shares of company stock worth $3,174,489. 7.20% of the stock is currently owned by company insiders.

Several research firms recently weighed in on SYK. Royal Bank of Canada set a $220.00 target price on Stryker and gave the stock a “buy” rating in a report on Friday, July 26th. Oppenheimer boosted their target price on Stryker from $183.00 to $192.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Barclays set a $226.00 target price on Stryker and gave the stock a “buy” rating in a report on Friday, July 26th. Credit Suisse Group boosted their target price on Stryker from $232.00 to $237.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Deutsche Bank lifted their price target on Stryker from $181.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $214.89.

Shares of SYK traded up $3.09 on Thursday, reaching $215.15. 23,187 shares of the stock traded hands, compared to its average volume of 1,090,678. The firm has a market cap of $81.21 billion, a price-to-earnings ratio of 29.38, a price-to-earnings-growth ratio of 2.64 and a beta of 0.85. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 2.07. Stryker Co. has a 12 month low of $144.75 and a 12 month high of $222.59. The stock’s 50-day moving average is $210.23.

Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, July 25th. The medical technology company reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.05. The business had revenue of $3.65 billion for 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%. Stryker’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.76 earnings per share. As a group, equities research analysts anticipate that Stryker Co. will post 8.2 earnings per share for the current year.

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 $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend is Friday, September 27th. Stryker’s dividend payout ratio is presently 28.45%.

Stryker Profile

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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