Exchange Traded Concepts LLC Boosts Stake in Stryker Corporation $SYK

Exchange Traded Concepts LLC lifted its holdings in shares of Stryker Corporation (NYSE:SYK) by 35.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,214 shares of the medical technology company’s stock after acquiring an additional 2,152 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Stryker were worth $3,036,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Consolidated Portfolio Review Corp raised its holdings in Stryker by 4.2% in the second quarter. Consolidated Portfolio Review Corp now owns 648 shares of the medical technology company’s stock valued at $256,000 after acquiring an additional 26 shares in the last quarter. Princeton Global Asset Management LLC increased its position in shares of Stryker by 16.9% in the 2nd quarter. Princeton Global Asset Management LLC now owns 180 shares of the medical technology company’s stock worth $71,000 after purchasing an additional 26 shares during the last quarter. Sunflower Bank N.A. raised its stake in shares of Stryker by 4.0% in the 2nd quarter. Sunflower Bank N.A. now owns 696 shares of the medical technology company’s stock valued at $275,000 after purchasing an additional 27 shares in the last quarter. Pitti Group Wealth Management LLC lifted its position in shares of Stryker by 3.2% during the second quarter. Pitti Group Wealth Management LLC now owns 861 shares of the medical technology company’s stock worth $341,000 after purchasing an additional 27 shares during the last quarter. Finally, Sachetta LLC grew its stake in Stryker by 58.7% in the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 276,173 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $353.28, for a total value of $97,566,397.44. Following the completion of the sale, the director directly owned 2,702,108 shares of the company’s stock, valued at approximately $954,600,714.24. This represents a 9.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO William E. Berry, Jr. sold 1,953 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $365.49, for a total transaction of $713,801.97. Following the completion of the transaction, the chief accounting officer owned 2,833 shares of the company’s stock, valued at $1,035,433.17. This trade represents a 40.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 522,118 shares of company stock worth $185,381,932. 5.90% of the stock is owned by company insiders.

Stryker Stock Performance

SYK stock opened at $354.54 on Friday. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19. The stock has a market capitalization of $135.58 billion, a price-to-earnings ratio of 46.59, a PEG ratio of 2.51 and a beta of 0.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.13 and a current ratio of 1.85. The stock’s fifty day moving average is $364.19 and its two-hundred day moving average is $376.74.

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

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be given a $0.88 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $3.52 annualized dividend and a yield of 1.0%. This is an increase from Stryker’s previous quarterly dividend of $0.84. Stryker’s payout ratio is 44.15%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SYK shares. Barclays upped their price objective on Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a research report on Sunday, December 21st. Rothschild Redb raised shares of Stryker to a “hold” rating in a report on Thursday, September 18th. Evercore ISI lowered their target price on shares of Stryker from $410.00 to $405.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. Finally, Redburn Partners set a $420.00 price target on shares of Stryker in a research report on Thursday, September 18th. Thirteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $431.84.

About Stryker

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.