Stryker Corporation $SYK Shares Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lifted its stake in shares of Stryker Corporation (NYSE:SYK) by 35.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 8,214 shares of the medical technology company’s stock after acquiring an additional 2,152 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Stryker were worth $3,036,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of SYK. Consolidated Portfolio Review Corp boosted its position in shares of Stryker by 4.2% in the 2nd quarter. Consolidated Portfolio Review Corp now owns 648 shares of the medical technology company’s stock valued at $256,000 after purchasing an additional 26 shares during the period. Princeton Global Asset Management LLC raised its holdings in Stryker by 16.9% during the 2nd quarter. Princeton Global Asset Management LLC now owns 180 shares of the medical technology company’s stock worth $71,000 after buying an additional 26 shares during the period. Sunflower Bank N.A. lifted its stake in Stryker by 4.0% during the second quarter. Sunflower Bank N.A. now owns 696 shares of the medical technology company’s stock valued at $275,000 after buying an additional 27 shares in the last quarter. Pitti Group Wealth Management LLC boosted its holdings in shares of Stryker by 3.2% in the second quarter. Pitti Group Wealth Management LLC now owns 861 shares of the medical technology company’s stock worth $341,000 after buying an additional 27 shares during the period. Finally, Sachetta LLC increased its position in shares of Stryker by 58.7% in the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after acquiring an additional 27 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Stock Performance

Shares of NYSE SYK opened at $354.54 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.85 and a quick ratio of 1.13. Stryker Corporation has a one year low of $329.16 and a one year high of $406.19. The business’s 50-day moving average price is $364.19 and its two-hundred day moving average price is $376.74. The company has a market capitalization of $135.58 billion, a P/E ratio of 46.59, a price-to-earnings-growth ratio of 2.51 and a beta of 0.89.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Friday, October 31st. The medical technology company reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.13 by $0.06. The company had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $6.04 billion. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the business earned $2.87 EPS. Analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be given a $0.88 dividend. This is a positive change from Stryker’s previous quarterly dividend of $0.84. This represents a $3.52 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, December 31st. Stryker’s payout ratio is presently 44.15%.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 276,173 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the transaction, the director directly owned 2,702,108 shares in the company, valued at $954,600,714.24. This trade represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Preston Wendell Wells sold 165 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $365.88, for a total value of $60,370.20. Following the completion of the sale, the chief financial officer directly owned 6,694 shares of the company’s stock, valued at $2,449,200.72. This represents a 2.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 522,118 shares of company stock worth $185,381,932 in the last 90 days. 5.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SYK. Wells Fargo & Company upped their price target on shares of Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. UBS Group set a $408.00 target price on Stryker in a report on Monday, October 13th. Rothschild Redb upgraded Stryker to a “hold” rating in a report on Thursday, September 18th. Royal Bank Of Canada reissued an “outperform” rating and issued a $435.00 price objective on shares of Stryker in a research note on Friday, November 14th. Finally, Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Sunday, December 21st. Thirteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and a consensus target price of $431.84.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.