Chicago Capital LLC Grows Position in Stryker Co. (NYSE:SYK)

Chicago Capital LLC boosted its holdings in Stryker Co. (NYSE:SYK) by 1.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 185,198 shares of the medical technology company’s stock after buying an additional 3,392 shares during the quarter. Stryker accounts for approximately 1.9% of Chicago Capital LLC’s holdings, making the stock its 18th biggest position. Chicago Capital LLC’s holdings in Stryker were worth $63,014,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of SYK. Aspen Investment Management Inc boosted its holdings in Stryker by 0.7% in the first quarter. Aspen Investment Management Inc now owns 4,368 shares of the medical technology company’s stock worth $1,563,000 after purchasing an additional 31 shares during the last quarter. Harbor Investment Advisory LLC increased its position in Stryker by 0.4% during the first quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock valued at $2,499,000 after acquiring an additional 31 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in Stryker by 2.4% in the first quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock valued at $507,000 after acquiring an additional 33 shares during the period. Versant Capital Management Inc grew its stake in shares of Stryker by 4.0% during the 2nd quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock valued at $294,000 after purchasing an additional 33 shares during the period. Finally, Stanley Laman Group Ltd. boosted its holdings in shares of Stryker by 4.6% in the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after buying an additional 33 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling

In other Stryker news, insider Viju Menon sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the sale, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Viju Menon sold 600 shares of the stock in a transaction 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 owns 9,069 shares of the company’s stock, valued at $3,219,495. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the transaction, the director now owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 210,600 shares of company stock worth $68,330,400. Corporate insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SYK shares. The Goldman Sachs Group initiated coverage on shares of Stryker in a research report on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price target on the stock. BTIG Research lifted their target price on Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Morgan Stanley upped their price target on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Evercore ISI lowered their price objective on Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Finally, Stifel Nicolaus reduced their target price on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and an average target price of $377.11.

Stryker Price Performance

Stryker stock traded up $0.92 during midday trading on Friday, reaching $358.92. 1,001,435 shares of the stock traded hands, compared to its average volume of 1,295,614. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $364.36. The stock’s fifty day moving average is $339.06 and its 200-day moving average is $341.98. The stock has a market cap of $136.78 billion, a P/E ratio of 40.97, a PEG ratio of 2.78 and a beta of 0.91.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. The firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. Stryker’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period last year, the firm posted $2.54 earnings per share. As a group, equities research analysts anticipate 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 given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio is 36.53%.

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.