Lee Danner & Bass Inc. Acquires Shares of 14,607 Stryker Co. (NYSE:SYK)

Lee Danner & Bass Inc. acquired a new stake in Stryker Co. (NYSE:SYK) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 14,607 shares of the medical technology company’s stock, valued at approximately $4,970,000.

Other hedge funds also recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC bought a new position in Stryker in the 4th quarter valued at $1,561,000. Patton Albertson Miller Group LLC lifted its holdings in shares of Stryker by 23.7% in the 4th quarter. Patton Albertson Miller Group LLC now owns 17,825 shares of the medical technology company’s stock worth $5,338,000 after buying an additional 3,415 shares during the period. Koshinski Asset Management Inc. purchased a new stake in shares of Stryker in the 1st quarter worth $795,000. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Stryker by 43.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock worth $6,617,000 after buying an additional 5,565 shares during the period. Finally, Norden Group LLC purchased a new stake in shares of Stryker in the 1st quarter worth $4,027,000. Institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SYK shares. Barclays upped their price objective on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. UBS Group upped their price objective on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group started coverage on Stryker in a research note on Thursday, May 30th. They set a “neutral” rating and a $372.00 price objective for the company. Evercore ISI decreased their price objective on Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Finally, Stifel Nicolaus decreased their price objective on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and an average price target of $373.84.

Stryker Stock Performance

Shares of SYK stock traded up $2.49 during mid-day trading on Friday, reaching $360.42. The stock had a trading volume of 1,305,537 shares, compared to its average volume of 1,303,354. The business’s fifty day moving average is $336.78 and its 200-day moving average is $341.43. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The firm has a market cap of $137.30 billion, a price-to-earnings ratio of 41.14, a PEG ratio of 2.74 and a beta of 0.89. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41.

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

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is 36.53%.

Insider Buying and Selling

In related news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the sale, the director now directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Viju Menon sold 600 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. The disclosure for this sale can be found here. Insiders have sold a total of 210,600 shares of company stock valued at $68,330,400 over the last ninety days. Company insiders own 5.90% of the company’s stock.

Stryker Company 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.