Cpwm LLC Acquires New Stake in Stryker Co. (SYK)

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Cpwm LLC acquired a new stake in shares of Stryker Co. (NYSE:SYK) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,426 shares of the medical technology company’s stock, valued at approximately $253,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Commonwealth Bank of Australia lifted its position in Stryker by 1.8% during the third quarter. Commonwealth Bank of Australia now owns 17,102 shares of the medical technology company’s stock valued at $3,032,000 after purchasing an additional 300 shares during the last quarter. CapWealth Advisors LLC lifted its position in Stryker by 0.8% during the second quarter. CapWealth Advisors LLC now owns 40,753 shares of the medical technology company’s stock valued at $6,882,000 after purchasing an additional 310 shares during the last quarter. Associated Banc Corp lifted its holdings in shares of Stryker by 12.2% in the 2nd quarter. Associated Banc Corp now owns 2,994 shares of the medical technology company’s stock worth $506,000 after acquiring an additional 325 shares during the last quarter. North Star Asset Management Inc. lifted its holdings in shares of Stryker by 0.3% in the 3rd quarter. North Star Asset Management Inc. now owns 96,053 shares of the medical technology company’s stock worth $17,067,000 after acquiring an additional 328 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its holdings in shares of Stryker by 5.1% in the 3rd quarter. GSA Capital Partners LLP now owns 6,868 shares of the medical technology company’s stock worth $1,220,000 after acquiring an additional 331 shares during the last quarter. Institutional investors and hedge funds own 74.72% of the company’s stock.

SYK stock opened at $168.85 on Friday. The stock has a market capitalization of $64.45 billion, a P/E ratio of 26.02, a P/E/G ratio of 2.36 and a beta of 0.66. Stryker Co. has a 12 month low of $146.80 and a 12 month high of $179.84. The company has a current ratio of 1.91, a quick ratio of 1.21 and a debt-to-equity ratio of 0.60.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, October 25th. The medical technology company reported $1.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.01. The company had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.26 billion. Stryker had a net margin of 9.31% and a return on equity of 28.00%. On average, equities research analysts expect that Stryker Co. will post 7.28 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 31st. Investors of record on Monday, December 31st will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Friday, December 28th. This is an increase from Stryker’s previous quarterly dividend of $0.47. Stryker’s dividend payout ratio (DPR) is currently 28.97%.

SYK has been the subject of several analyst reports. Cowen set a $195.00 target price on shares of Stryker and gave the stock a “buy” rating in a report on Friday, November 9th. BTIG Research initiated coverage on shares of Stryker in a report on Thursday, August 16th. They issued a “buy” rating and a $187.00 target price for the company. Zacks Investment Research upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a report on Tuesday, October 30th. Citigroup raised their target price on shares of Stryker from $173.00 to $174.00 and gave the stock a “neutral” rating in a report on Thursday, November 15th. Finally, Barclays initiated coverage on shares of Stryker in a report on Monday, October 15th. They issued an “overweight” rating and a $198.00 target price for the company. Eight research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $182.45.

In related news, CFO Glenn S. Boehnlein sold 750 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were 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 approximately $496,203.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP M Kathryn Fink sold 415 shares of the firm’s stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $166.56, for a total transaction of $69,122.40. The disclosure for this sale can be found here. Company insiders own 7.40% of the company’s stock.

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Stryker Company 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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