Kaydan Wealth Management Inc. Has $2.05 Million Stock Position in Stryker Co. (NYSE:SYK)

Kaydan Wealth Management Inc. lowered its stake in Stryker Co. (NYSE:SYK) by 0.8% during the third quarter, Holdings Channel reports. The firm owned 5,675 shares of the medical technology company’s stock after selling 43 shares during the period. Stryker makes up approximately 0.6% of Kaydan Wealth Management Inc.’s investment portfolio, making the stock its 24th biggest position. Kaydan Wealth Management Inc.’s holdings in Stryker were worth $2,050,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SYK. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its position in Stryker by 444.0% during the third quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 6,093 shares of the medical technology company’s stock valued at $2,201,000 after purchasing an additional 4,973 shares in the last quarter. Fulton Breakefield Broenniman LLC raised its holdings in shares of Stryker by 997.4% during the 3rd quarter. Fulton Breakefield Broenniman LLC now owns 35,523 shares of the medical technology company’s stock worth $12,833,000 after buying an additional 32,286 shares in the last quarter. Carderock Capital Management Inc. lifted its position in shares of Stryker by 13.4% during the 3rd quarter. Carderock Capital Management Inc. now owns 21,316 shares of the medical technology company’s stock worth $7,701,000 after buying an additional 2,514 shares during the last quarter. Wolff Wiese Magana LLC boosted its stake in Stryker by 4,288.9% in the third quarter. Wolff Wiese Magana LLC now owns 790 shares of the medical technology company’s stock valued at $285,000 after buying an additional 772 shares in the last quarter. Finally, Baskin Financial Services Inc. grew its position in Stryker by 0.7% in the third quarter. Baskin Financial Services Inc. now owns 111,382 shares of the medical technology company’s stock valued at $40,238,000 after acquiring an additional 785 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Trading Up 0.7 %

SYK opened at $361.38 on Thursday. The stock has a market cap of $137.67 billion, a PE ratio of 41.25, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. 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 twelve month low of $255.22 and a twelve month high of $374.63. The company has a fifty day moving average of $354.28 and a 200-day moving average of $343.09.

Stryker (NYSE:SYK) last posted its quarterly earnings data 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 firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the company posted $2.54 EPS. The business’s quarterly revenue was up 8.5% on a year-over-year basis. On average, sell-side analysts predict that Stryker Co. will post 12 EPS 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 issued a dividend of $0.80 per share. 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 payout ratio is 36.53%.

Insider Transactions at Stryker

In related news, insider Viju Menon sold 600 shares of the business’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 transaction, the insider now owns 9,069 shares in the company, valued at $3,219,495. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $6,660,000.00. Following the completion of the transaction, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 220,068 shares of company stock valued at $71,811,372 in the last quarter. 5.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SYK has been the topic of a number of research analyst reports. Evercore ISI raised their price target on shares of Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. UBS Group boosted their target price on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Needham & Company LLC increased their price target on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Barclays raised their price objective on Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $381.16.

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.