Capital Insight Partners LLC Raises Stock Holdings in Stryker Co. (NYSE:SYK)

Capital Insight Partners LLC boosted its holdings in shares of Stryker Co. (NYSE:SYK) by 4.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,789 shares of the medical technology company’s stock after purchasing an additional 80 shares during the quarter. Capital Insight Partners LLC’s holdings in Stryker were worth $609,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Aspen Investment Management Inc boosted its stake in Stryker by 0.7% during the 1st quarter. Aspen Investment Management Inc now owns 4,368 shares of the medical technology company’s stock valued at $1,563,000 after acquiring an additional 31 shares during the last quarter. Harbor Investment Advisory LLC increased its holdings in Stryker by 0.4% in the first quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock valued at $2,499,000 after buying an additional 31 shares during the last quarter. Proficio Capital Partners LLC raised its stake in Stryker by 2.4% during the first quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock valued at $507,000 after buying an additional 33 shares in the last quarter. Versant Capital Management Inc grew its position in shares of Stryker by 4.0% in the 2nd quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock worth $294,000 after acquiring an additional 33 shares in the last quarter. Finally, Stanley Laman Group Ltd. increased its holdings in shares of Stryker by 4.6% in the 2nd quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock valued at $256,000 after acquiring an additional 33 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Stryker

In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the sale, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the transaction, the director now owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SYK has been the topic of a number of research reports. Needham & Company LLC increased their target price on shares of Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Evercore ISI reduced their price objective on Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Wells Fargo & Company raised their target price on Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. The Goldman Sachs Group assumed coverage on shares of Stryker in a research report on Thursday, May 30th. They set a “neutral” rating and a $372.00 price target for the company. Finally, Morgan Stanley lifted their price objective on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus price target of $373.11.

Stryker Price Performance

Stryker stock traded up $2.57 during mid-day trading on Friday, hitting $353.29. The company’s stock had a trading volume of 966,116 shares, compared to its average volume of 1,456,137. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41. The stock’s fifty day moving average price is $335.90 and its two-hundred day moving average price is $340.98. The stock has a market capitalization of $134.63 billion, a P/E ratio of 40.33, a P/E/G ratio of 2.71 and a beta of 0.89. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the prior year, the business posted $2.54 earnings per share. Stryker’s revenue was up 8.5% compared to the same quarter last year. Research analysts forecast that Stryker Co. will post 12 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.91%. Stryker’s payout ratio is currently 36.53%.

Stryker Profile

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.