PFG Advisors Increases Stock Holdings in Stryker Co. (NYSE:SYK)

PFG Advisors increased its holdings in shares of Stryker Co. (NYSE:SYK) by 1.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 7,520 shares of the medical technology company’s stock after purchasing an additional 120 shares during the period. PFG Advisors’ holdings in Stryker were worth $1,613,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Farmers National Bank purchased a new position in Stryker during the 1st quarter worth $25,000. Massey Quick Simon & CO. LLC purchased a new position in Stryker during the 2nd quarter worth $27,000. Cable Hill Partners LLC purchased a new position in Stryker during the 1st quarter worth $30,000. Horan Capital Advisors LLC. purchased a new position in Stryker during the 1st quarter worth $40,000. Finally, Webster Bank N. A. grew its stake in Stryker by 300.0% during the 2nd quarter. Webster Bank N. A. now owns 200 shares of the medical technology company’s stock worth $41,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 74.14% of the company’s stock.

Several brokerages recently weighed in on SYK. Oppenheimer boosted their target price on Stryker from $183.00 to $192.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Piper Jaffray Companies boosted their price target on Stryker from $205.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Svb Leerink reiterated an “outperform” rating on shares of Stryker in a research note on Wednesday, July 10th. Cantor Fitzgerald boosted their price target on Stryker from $190.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, Robert W. Baird boosted their price target on Stryker from $206.00 to $239.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Five analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $214.89.

In other news, Director Allan C. Golston sold 3,399 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $209.84, for a total value of $713,246.16. Following the completion of the transaction, the director now owns 13,762 shares of the company’s stock, valued at approximately $2,887,818.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Glenn S. Boehnlein sold 2,700 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $214.16, for a total value of $578,232.00. Following the completion of the transaction, the chief financial officer now directly owns 20,633 shares of the company’s stock, valued at approximately $4,418,763.28. The disclosure for this sale can be found here. In the last three months, insiders sold 20,447 shares of company stock valued at $4,262,634. Insiders own 7.20% of the company’s stock.

Shares of SYK stock traded up $0.33 on Wednesday, hitting $218.27. The company had a trading volume of 20,555 shares, compared to its average volume of 1,075,709. The firm has a market cap of $82.32 billion, a P/E ratio of 29.85, a price-to-earnings-growth ratio of 2.63 and a beta of 0.85. The company has a 50-day moving average price of $211.77 and a 200-day moving average price of $195.53. The company has a quick ratio of 1.26, a current ratio of 2.07 and a debt-to-equity ratio of 0.67. Stryker Co. has a twelve month low of $144.75 and a twelve month high of $222.59.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, July 25th. The medical technology company reported $1.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $0.05. The business 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 company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.76 EPS. Equities research analysts expect that Stryker Co. will post 8.21 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.52 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.08 annualized dividend and a dividend yield of 0.95%. Stryker’s dividend payout ratio (DPR) is presently 28.45%.

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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