Seaview Investment Managers LLC Buys 5,604 Shares of Stryker Co. (NYSE:SYK)

Seaview Investment Managers LLC raised its stake in Stryker Co. (NYSE:SYK) by 25.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,355 shares of the medical technology company’s stock after purchasing an additional 5,604 shares during the period. Stryker accounts for 2.8% of Seaview Investment Managers LLC’s holdings, making the stock its 24th biggest holding. Seaview Investment Managers LLC’s holdings in Stryker were worth $9,308,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SYK. Burkett Financial Services LLC bought a new stake in Stryker in the fourth quarter valued at $25,000. DSM Capital Partners LLC acquired a new position in shares of Stryker during the fourth quarter valued at about $34,000. Central Pacific Bank Trust Division acquired a new position in shares of Stryker during the first quarter valued at about $39,000. Private Wealth Management Group LLC acquired a new position in shares of Stryker during the fourth quarter valued at about $40,000. Finally, Accent Capital Management LLC acquired a new position in shares of Stryker during the fourth quarter valued at about $60,000. 77.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SYK has been the subject of a number of analyst reports. Wolfe Research initiated coverage on shares of Stryker in a report on Tuesday. They set an “outperform” rating and a $405.00 price objective for the company. 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 report on Monday, July 15th. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. UBS Group lifted their price objective on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group assumed coverage on shares of Stryker in a research note on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price objective for the company. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $378.58.

Stryker Stock Performance

Shares of SYK stock opened at $362.78 on Tuesday. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $365.61. The stock has a market capitalization of $138.25 billion, a P/E ratio of 41.41, a PEG ratio of 2.77 and a beta of 0.91. 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’s 50 day moving average is $339.59 and its 200 day moving average is $341.97.

Stryker (NYSE:SYK) last posted its quarterly 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. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the company earned $2.54 earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, sell-side analysts anticipate 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. Shareholders of record on Monday, September 30th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s payout ratio is presently 36.53%.

Insider Buying and Selling at Stryker

In other Stryker news, insider Viju Menon sold 600 shares of Stryker 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 completion of the transaction, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Stryker news, insider Viju Menon sold 600 shares of Stryker 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 completion of the transaction, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The disclosure for this sale can be found here. Insiders sold 210,600 shares of company stock valued at $68,330,400 in the last quarter. 5.90% of the stock is currently owned by corporate insiders.

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.