Rock Point Advisors LLC Buys 104 Shares of Stryker Co. (NYSE:SYK)

Rock Point Advisors LLC grew its stake in Stryker Co. (NYSE:SYK) by 0.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,254 shares of the medical technology company’s stock after acquiring an additional 104 shares during the quarter. Stryker accounts for 1.5% of Rock Point Advisors LLC’s portfolio, making the stock its 28th biggest holding. Rock Point Advisors LLC’s holdings in Stryker were worth $4,850,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Precision Wealth Strategies LLC grew its position in Stryker by 2.1% during the 4th quarter. Precision Wealth Strategies LLC now owns 3,114 shares of the medical technology company’s stock valued at $933,000 after purchasing an additional 65 shares during the last quarter. Gryphon Financial Partners LLC bought a new position in shares of Stryker in the fourth quarter worth approximately $348,000. Foundations Investment Advisors LLC grew its holdings in shares of Stryker by 2.3% during the fourth quarter. Foundations Investment Advisors LLC now owns 1,611 shares of the medical technology company’s stock valued at $482,000 after buying an additional 36 shares during the last quarter. Meridian Wealth Management LLC increased its position in shares of Stryker by 34.1% during the fourth quarter. Meridian Wealth Management LLC now owns 2,269 shares of the medical technology company’s stock valued at $679,000 after acquiring an additional 577 shares in the last quarter. Finally, Private Wealth Management Group LLC purchased a new position in Stryker in the 4th quarter worth approximately $40,000. 77.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SYK has been the subject of a number of research analyst reports. Stifel Nicolaus reduced their target price on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. BTIG Research lifted their price objective on Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Morgan Stanley upped their target price on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. Finally, Needham & Company LLC increased their price objective on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus price target of $378.58.

Stryker Stock Up 0.7 %

NYSE SYK opened at $370.25 on Friday. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $374.24. 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 $141.09 billion, a P/E ratio of 42.27, a price-to-earnings-growth ratio of 2.84 and a beta of 0.91. The stock’s 50-day moving average price is $342.26 and its 200-day moving average price is $342.44.

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 company had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.54 EPS. On average, equities research analysts predict that Stryker Co. will post 12 earnings per share for the current year.

Stryker Announces Dividend

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 issued 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 yield of 0.86%. Stryker’s dividend payout ratio is presently 36.53%.

Insider Activity

In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction 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 $949,716. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 190,000 shares of the business’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 owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The disclosure for this sale can be found here. Insiders have sold 210,600 shares of company stock worth $68,330,400 over the last ninety days. Corporate insiders own 5.90% of the company’s stock.

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.