J.W. Cole Advisors Inc. Purchases 580 Shares of Stryker Co. (NYSE:SYK)

J.W. Cole Advisors Inc. increased its position in Stryker Co. (NYSE:SYK) by 22.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,186 shares of the medical technology company’s stock after purchasing an additional 580 shares during the period. J.W. Cole Advisors Inc.’s holdings in Stryker were worth $1,084,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SYK. Chronos Wealth Management LLC raised its position in Stryker by 1.4% in the 2nd quarter. Chronos Wealth Management LLC now owns 18,349 shares of the medical technology company’s stock worth $6,243,000 after buying an additional 246 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Stryker by 2.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company’s stock worth $210,289,000 after buying an additional 16,504 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Stryker by 11.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 35,282 shares of the medical technology company’s stock worth $12,005,000 after buying an additional 3,765 shares during the last quarter. Parallel Advisors LLC raised its position in Stryker by 2.0% in the 2nd quarter. Parallel Advisors LLC now owns 15,311 shares of the medical technology company’s stock worth $5,209,000 after buying an additional 300 shares during the last quarter. Finally, HBK Sorce Advisory LLC purchased a new position in Stryker in the 2nd quarter worth about $241,000. Institutional investors own 77.09% of the company’s stock.

Stryker Trading Up 0.7 %

Stryker stock opened at $370.25 on Monday. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $374.24. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $141.09 billion, a price-to-earnings ratio of 42.27, a P/E/G ratio of 2.84 and a beta of 0.91. The firm has a 50 day moving average of $342.26 and a 200 day moving average of $342.37.

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

Stryker Dividend Announcement

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 paid a $0.80 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.86%. Stryker’s payout ratio is 36.53%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SYK shares. Barclays boosted their target price on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. The Goldman Sachs Group initiated coverage on shares of Stryker in a research report on Thursday, May 30th. They set a “neutral” rating and a $372.00 price target for the company. Evercore ISI reduced their price target on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. BTIG Research upped their price target on shares of Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Finally, Needham & Company LLC upped their price target 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 equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $378.58.

Insiders Place Their Bets

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 value of $213,000.00. Following the completion of the transaction, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Viju Menon sold 600 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. The disclosure for this sale can be found here. Insiders sold 210,600 shares of company stock worth $68,330,400 in the last three months. 5.90% of the stock is owned by company insiders.

About Stryker

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.