Truvestments Capital LLC Takes $338,000 Position in Stryker Co. (NYSE:SYK)

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Truvestments Capital LLC acquired a new position in shares of Stryker Co. (NYSE:SYK) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,001 shares of the medical technology company’s stock, valued at approximately $338,000.

Other institutional investors also recently added to or reduced their stakes in the company. Atlantic Trust LLC acquired a new position in Stryker during the second quarter worth $105,000. Centaurus Financial Inc. bought a new stake in shares of Stryker during the second quarter worth $110,000. Kaizen Advisory LLC grew its holdings in shares of Stryker by 142.6% during the second quarter. Kaizen Advisory LLC now owns 752 shares of the medical technology company’s stock worth $127,000 after purchasing an additional 442 shares during the last quarter. CX Institutional bought a new stake in shares of Stryker during the second quarter worth $133,000. Finally, NumerixS Investment Technologies Inc bought a new stake in shares of Stryker during the second quarter worth $135,000. Hedge funds and other institutional investors own 75.11% of the company’s stock.

Stryker stock traded up $2.32 during midday trading on Friday, reaching $171.04. The stock had a trading volume of 1,062,435 shares, compared to its average volume of 1,308,246. Stryker Co. has a 1-year low of $146.10 and a 1-year high of $179.84. The firm has a market cap of $66.45 billion, a PE ratio of 26.35, a P/E/G ratio of 2.49 and a beta of 0.59. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.15 and a current ratio of 1.83.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, July 24th. The medical technology company reported $1.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.73 by $0.03. The business had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.31 billion. Stryker had a return on equity of 26.93% and a net margin of 8.28%. Stryker’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.53 EPS. As a group, equities research analysts predict that Stryker Co. will post 7.25 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Friday, September 28th will be paid a $0.47 dividend. The ex-dividend date is Thursday, September 27th. This represents a $1.88 dividend on an annualized basis and a yield of 1.10%. Stryker’s dividend payout ratio is 28.97%.

In other news, VP Katherine Ann Owen sold 37,866 shares of Stryker stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $166.84, for a total transaction of $6,317,563.44. Following the completion of the transaction, the vice president now directly owns 11,367 shares in the company, valued at approximately $1,896,470.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Glenn S. Boehnlein sold 750 shares of Stryker stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $178.17, for a total value of $133,627.50. Following the transaction, the chief financial officer now owns 2,785 shares of the company’s stock, valued at $496,203.45. The disclosure for this sale can be found here. 7.30% of the stock is owned by company insiders.

SYK has been the topic of several recent research reports. Zacks Investment Research cut Stryker from a “buy” rating to a “hold” rating in a report on Tuesday, June 19th. ValuEngine upgraded Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, June 26th. Sanford C. Bernstein initiated coverage on Stryker in a report on Wednesday, June 27th. They issued a “market perform” rating and a $177.00 price target on the stock. BMO Capital Markets reiterated a “hold” rating and issued a $174.00 price target on shares of Stryker in a report on Thursday, July 12th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Stryker in a report on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $178.33.

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.

Featured Article: Earnings Per Share (EPS) Explained

Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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