McAdam LLC Boosts Stake in Stryker Co. (NYSE:SYK)

McAdam LLC raised its holdings in Stryker Co. (NYSE:SYK) by 11.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 766 shares of the medical technology company’s stock after buying an additional 81 shares during the period. McAdam LLC’s holdings in Stryker were worth $277,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Monte Financial Group LLC boosted its position in Stryker by 3.8% in the 3rd quarter. Monte Financial Group LLC now owns 3,081 shares of the medical technology company’s stock valued at $1,113,000 after buying an additional 113 shares during the period. Courier Capital LLC raised its stake in Stryker by 397.6% during the 3rd quarter. Courier Capital LLC now owns 3,921 shares of the medical technology company’s stock worth $1,417,000 after acquiring an additional 3,133 shares in the last quarter. Sterling Investment Counsel LLC raised its stake in Stryker by 17.1% during the 3rd quarter. Sterling Investment Counsel LLC now owns 2,107 shares of the medical technology company’s stock worth $761,000 after acquiring an additional 307 shares in the last quarter. TFG Advisers LLC raised its stake in Stryker by 1.2% during the 3rd quarter. TFG Advisers LLC now owns 13,683 shares of the medical technology company’s stock worth $4,943,000 after acquiring an additional 159 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its stake in Stryker by 141.4% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 3,577 shares of the medical technology company’s stock worth $1,292,000 after acquiring an additional 2,095 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

NYSE:SYK opened at $359.90 on Friday. The firm’s 50 day moving average is $357.99 and its two-hundred day moving average is $343.59. Stryker Co. has a fifty-two week low of $255.22 and a fifty-two week 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 cap of $137.10 billion, a P/E ratio of 41.08, a P/E/G ratio of 2.83 and a beta of 0.91.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter last year, the firm posted $2.54 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. Analysts expect that Stryker Co. will post 12 EPS for the current year.

Stryker Dividend Announcement

The firm 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. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio is presently 36.53%.

Insider Activity at Stryker

In related news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Stryker news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 220,068 shares of company stock valued at $71,811,372. Corporate insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Barclays lifted their price objective on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Stifel Nicolaus dropped their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Wolfe Research started coverage on shares of Stryker in a report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price on the stock. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $380.00 target price on shares of Stryker in a report on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and a consensus price target of $381.16.

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.