JLB & Associates Inc. lifted its position in shares of Stryker Co. (NYSE:SYK) by 6.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,622 shares of the medical technology company’s stock after purchasing an additional 2,438 shares during the quarter. JLB & Associates Inc.’s holdings in Stryker were worth $8,256,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Public Employees Retirement Association of Colorado increased its holdings in Stryker by 5.6% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 64,076 shares of the medical technology company’s stock valued at $10,668,000 after buying an additional 3,411 shares during the period. State Street Corp increased its stake in Stryker by 1.0% in the first quarter. State Street Corp now owns 13,812,677 shares of the medical technology company’s stock valued at $2,307,526,000 after acquiring an additional 136,388 shares during the period. Magnetar Financial LLC acquired a new position in Stryker in the first quarter worth about $268,000. HBK Sorce Advisory LLC lifted its stake in Stryker by 8.8% during the first quarter. HBK Sorce Advisory LLC now owns 1,425 shares of the medical technology company’s stock worth $237,000 after purchasing an additional 115 shares during the period. Finally, Two Sigma Advisers LP boosted its holdings in Stryker by 902.8% during the first quarter. Two Sigma Advisers LP now owns 32,101 shares of the medical technology company’s stock valued at $5,344,000 after purchasing an additional 28,900 shares in the last quarter. 71.02% of the stock is currently owned by institutional investors.
Shares of SYK stock traded up $1.72 during trading hours on Friday, reaching $224.05. The company had a trading volume of 820,575 shares, compared to its average volume of 1,745,606. Stryker Co. has a 1-year low of $124.54 and a 1-year high of $227.39. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.91 and a quick ratio of 2.12. The firm has a market cap of $83.98 billion, a price-to-earnings ratio of 53.22, a P/E/G ratio of 3.47 and a beta of 0.83. The company has a 50 day moving average of $206.98 and a 200 day moving average of $191.07.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a yield of 1.03%. The ex-dividend date is Tuesday, September 29th. Stryker’s payout ratio is 27.85%.
SYK has been the subject of several analyst reports. Oppenheimer restated a “hold” rating and set a $215.00 target price on shares of Stryker in a research report on Friday, July 31st. Northland Securities initiated coverage on shares of Stryker in a research note on Tuesday, October 6th. They issued a “market perform” rating and a $225.00 target price on the stock. Wolfe Research assumed coverage on shares of Stryker in a research report on Friday, September 11th. They set a “market perform” rating and a $230.00 target price for the company. Morgan Stanley boosted their price target on shares of Stryker from $215.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Finally, Credit Suisse Group raised their price objective on shares of Stryker from $237.00 to $243.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $219.50.
In other Stryker news, CEO Kevin Lobo sold 25,855 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $190.80, for a total value of $4,933,134.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.80% of the stock is currently owned by insiders.
Stryker Company Profile
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices that are used in various medical specialties.
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