Luts & Greenleigh Group Inc. Takes Position in Stryker Co. (NYSE:SYK)

Luts & Greenleigh Group Inc. purchased a new position in shares of Stryker Co. (NYSE:SYK) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,660 shares of the medical technology company’s stock, valued at approximately $565,000.

A number of other hedge funds have also recently added to or reduced their stakes in SYK. Vanguard Group Inc. raised its stake in shares of Stryker by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock worth $11,258,373,000 after buying an additional 309,592 shares in the last quarter. Greenleaf Trust raised its position in Stryker by 0.6% in the first quarter. Greenleaf Trust now owns 18,596,387 shares of the medical technology company’s stock worth $6,655,089,000 after acquiring an additional 108,080 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Stryker by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after acquiring an additional 642,178 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Stryker by 10.4% during the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after purchasing an additional 813,311 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Stryker by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 4,686,440 shares of the medical technology company’s stock worth $1,403,401,000 after purchasing an additional 29,209 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on SYK shares. Needham & Company LLC boosted their price objective on shares of Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus dropped 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. The Goldman Sachs Group started coverage on Stryker in a report on Thursday, May 30th. They set a “neutral” rating and a $372.00 price objective for the company. StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a report on Monday. Finally, UBS Group lifted their price target on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $378.58.

Stryker Stock Performance

Shares of SYK opened at $371.97 on Tuesday. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $374.63. The company’s 50 day simple moving average is $343.03 and its 200 day simple moving average is $342.53. The company has a market capitalization of $141.70 billion, a price-to-earnings ratio of 42.46, a PEG 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 (NYSE:SYK) last issued its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. The company 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 business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.54 EPS. On average, sell-side analysts predict that Stryker Co. will post 12 EPS for the current year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s payout ratio is 36.53%.

Insider Buying and Selling at Stryker

In related news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value 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 Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction on 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 completion of the sale, the director now directly owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Viju Menon sold 600 shares of the stock in a transaction 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 completion of 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. Insiders sold 210,600 shares of company stock worth $68,330,400 in the last 90 days. 5.90% of the stock is owned by company insiders.

Stryker 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.