Marble Harbor Investment Counsel LLC Acquires 375 Shares of Stryker Co. (NYSE:SYK)

Marble Harbor Investment Counsel LLC raised its holdings in Stryker Co. (NYSE:SYK) by 1.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,860 shares of the medical technology company’s stock after buying an additional 375 shares during the period. Stryker comprises about 1.1% of Marble Harbor Investment Counsel LLC’s holdings, making the stock its 28th largest position. Marble Harbor Investment Counsel LLC’s holdings in Stryker were worth $9,479,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Koshinski Asset Management Inc. acquired a new position in Stryker during the 1st quarter valued at about $795,000. Envestnet Portfolio Solutions Inc. boosted its position in shares of Stryker by 43.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock valued at $6,617,000 after buying an additional 5,565 shares during the last quarter. Norden Group LLC bought a new stake in Stryker during the first quarter worth $4,027,000. International Assets Investment Management LLC purchased a new stake in Stryker in the 1st quarter valued at $21,970,000. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its stake in Stryker by 38.5% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock valued at $7,084,000 after acquiring an additional 5,502 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Price Performance

Shares of NYSE SYK opened at $370.25 on Monday. The stock has a fifty day moving average of $342.26 and a 200-day moving average of $342.37. The stock has a market cap of $141.09 billion, a PE ratio of 42.27, a price-to-earnings-growth ratio of 2.84 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $374.24.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share 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 firm had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the prior year, the business posted $2.54 earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. Equities research analysts anticipate that Stryker Co. will post 12 earnings per share for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.80 per share. The ex-dividend date is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.86%. Stryker’s dividend payout ratio (DPR) is currently 36.53%.

Insider Transactions at Stryker

In other Stryker news, insider Viju Menon sold 600 shares of Stryker stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction that occurred on 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 owns 2,852 shares in the company, valued at approximately $949,716. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Viju Menon sold 600 shares of Stryker stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 210,600 shares of company stock valued at $68,330,400. 5.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on SYK shares. Morgan Stanley increased their target price 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. UBS Group lifted their target price on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. BTIG Research upped their target price on Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Barclays boosted 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. Finally, Wolfe Research began coverage on Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price for the company. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.58.

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.