Traynor Capital Management Inc. Purchases 1,420 Shares of Stryker Corporation $SYK

Traynor Capital Management Inc. lifted its position in Stryker Corporation (NYSE:SYK) by 101.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,823 shares of the medical technology company’s stock after purchasing an additional 1,420 shares during the quarter. Traynor Capital Management Inc.’s holdings in Stryker were worth $1,044,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in SYK. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Stryker in the 2nd quarter valued at about $26,000. Clayton Financial Group LLC bought a new position in shares of Stryker in the third quarter worth approximately $26,000. Elevation Point Wealth Partners LLC purchased a new stake in Stryker in the second quarter valued at approximately $28,000. Sachetta LLC raised its stake in Stryker by 58.7% in the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 27 shares in the last quarter. Finally, Kilter Group LLC bought a new stake in Stryker during the second quarter valued at approximately $29,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling

In other news, CFO Preston Wendell Wells sold 165 shares of Stryker stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $365.88, for a total value of $60,370.20. Following the sale, the chief financial officer directly owned 6,694 shares in the company, valued at approximately $2,449,200.72. This trade represents a 2.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO William E. Berry, Jr. sold 1,953 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $365.49, for a total value of $713,801.97. Following the transaction, the chief accounting officer owned 2,833 shares of the company’s stock, valued at approximately $1,035,433.17. This represents a 40.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 522,118 shares of company stock valued at $185,381,932 over the last ninety days. 5.20% of the stock is owned by insiders.

Stryker Stock Up 1.0%

Shares of NYSE SYK opened at $358.19 on Thursday. The firm’s fifty day moving average is $359.50 and its 200 day moving average is $372.07. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $404.87. The company has a quick ratio of 1.13, a current ratio of 1.85 and a debt-to-equity ratio of 0.68. The company has a market cap of $136.98 billion, a price-to-earnings ratio of 47.07, a PEG ratio of 2.27 and a beta of 0.89.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Friday, October 31st. The medical technology company reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.13 by $0.06. The business had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $6.04 billion. Stryker had a net margin of 12.07% and a return on equity of 24.07%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.87 EPS. On average, equities research analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.88 per share. This is an increase from Stryker’s previous quarterly dividend of $0.84. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Wednesday, December 31st. Stryker’s dividend payout ratio (DPR) is currently 46.25%.

Analyst Ratings Changes

SYK has been the topic of several research reports. BTIG Research restated a “buy” rating and set a $410.00 price objective on shares of Stryker in a research report on Friday, November 14th. UBS Group set a $408.00 price target on Stryker in a research report on Monday, October 13th. Barclays increased their price objective on Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Evercore ISI set a $390.00 target price on Stryker in a research note on Monday, January 5th. Finally, TD Cowen downgraded shares of Stryker from a “buy” rating to a “hold” rating and set a $387.00 price target on the stock. in a research note on Monday. Twelve equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $425.94.

Stryker Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.