Exchange Traded Concepts LLC Acquires 96 Shares of Stryker Co. (NYSE:SYK)

Exchange Traded Concepts LLC raised its holdings in shares of Stryker Co. (NYSE:SYK) by 1.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,261 shares of the medical technology company’s stock after acquiring an additional 96 shares during the period. Exchange Traded Concepts LLC’s holdings in Stryker were worth $1,901,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Retirement Planning Group LLC bought a new position in Stryker during the third quarter valued at approximately $249,000. Annex Advisory Services LLC grew its holdings in shares of Stryker by 6.0% in the third quarter. Annex Advisory Services LLC now owns 8,314 shares of the medical technology company’s stock worth $3,004,000 after purchasing an additional 471 shares during the last quarter. Mechanics Bank Trust Department raised its holdings in Stryker by 5.0% during the 3rd quarter. Mechanics Bank Trust Department now owns 7,563 shares of the medical technology company’s stock valued at $2,732,000 after buying an additional 359 shares during the last quarter. InTrack Investment Management Inc boosted its position in Stryker by 8.1% during the 3rd quarter. InTrack Investment Management Inc now owns 3,612 shares of the medical technology company’s stock valued at $1,305,000 after buying an additional 271 shares during the period. Finally, Brown Miller Wealth Management LLC grew its holdings in Stryker by 1.3% in the 3rd quarter. Brown Miller Wealth Management LLC now owns 6,988 shares of the medical technology company’s stock worth $2,524,000 after acquiring an additional 92 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on SYK shares. 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. Barclays lifted their price objective on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Evercore ISI upped their target price on Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $386.00 price objective on shares of Stryker in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $381.16.

Insider Activity

In related news, insider Viju Menon sold 600 shares of the company’s 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 directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Stryker news, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 220,068 shares of company stock worth $71,811,372 over the last 90 days. 5.90% of the stock is currently owned by insiders.

Stryker Stock Performance

Stryker stock opened at $358.98 on Wednesday. Stryker Co. has a twelve month low of $255.22 and a twelve month high of $374.63. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $136.75 billion, a P/E ratio of 40.98, a PEG ratio of 2.73 and a beta of 0.91. The stock’s 50 day moving average is $353.45 and its 200 day moving average is $342.96.

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

Stryker Announces Dividend

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

About Stryker

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.