Bank of Montreal Can Grows Stock Position in Stryker Corporation $SYK

Key Points

• Bank of Montreal Can raised its stake in Stryker by 8.4% in Q3 to 478,389 shares, worth about $176.8 million (≈0.13% of the company).
• Director Ronda E. Stryker sold 250,000 shares at an average price of $362.92 for roughly $90.73 million, reducing her position by 9.23%; company insiders now own 5.20%.
• Stryker beat quarterly EPS estimates ($4.47 vs. $4.40) with revenue up 11.4%, and analysts have a consensus rating of Moderate Buy with an average target of $428.61 (14 Buys, 5 Holds); the company also declared a $0.88 quarterly dividend (≈1.0% yield).

Bank of Montreal Can increased its stake in Stryker Corporation (NYSE:SYK - Free Report) by 8.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 478,389 shares of the medical technology company's stock after acquiring an additional 37,088 shares during the period. Bank of Montreal Can owned about 0.13% of Stryker worth $176,846,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC lifted its position in Stryker by 15.4% in the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock valued at $1,643,000 after purchasing an additional 609 shares during the last quarter. Schnieders Capital Management LLC. bought a new position in shares of Stryker in the second quarter worth approximately $205,000. AE Wealth Management LLC grew its holdings in shares of Stryker by 31.1% in the second quarter. AE Wealth Management LLC now owns 3,037 shares of the medical technology company's stock worth $1,202,000 after purchasing an additional 720 shares during the last quarter. Profund Advisors LLC increased its stake in shares of Stryker by 2.2% in the second quarter. Profund Advisors LLC now owns 4,917 shares of the medical technology company's stock worth $1,945,000 after buying an additional 105 shares during the period. Finally, ProShare Advisors LLC raised its holdings in Stryker by 6.9% during the 2nd quarter. ProShare Advisors LLC now owns 61,710 shares of the medical technology company's stock valued at $24,414,000 after buying an additional 3,997 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SYK has been the subject of several analyst reports. Wells Fargo & Company increased their price target on shares of Stryker from $452.00 to $456.00 and gave the company an "overweight" rating in a research report on Friday, November 14th. Citigroup reaffirmed a "market outperform" rating on shares of Stryker in a research note on Friday, January 30th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Stryker in a report on Monday, December 22nd. BTIG Research boosted their price target on Stryker from $410.00 to $412.00 and gave the company a "buy" rating in a report on Friday, January 30th. Finally, Needham & Company LLC upped their price target on Stryker from $448.00 to $454.00 and gave the company a "buy" rating in a research report on Friday, January 30th. Fourteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $428.61.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the transaction, the director owned 2,457,331 shares of the company's stock, valued at approximately $891,814,566.52. This represents a 9.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.20% of the company's stock.

Stryker Stock Down 1.9%

Shares of NYSE SYK opened at $358.83 on Wednesday. The firm has a fifty day simple moving average of $365.82 and a two-hundred day simple moving average of $368.46. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $404.87. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $137.32 billion, a PE ratio of 42.72, a price-to-earnings-growth ratio of 2.14 and a beta of 0.85.

Stryker (NYSE:SYK - Get Free Report) last announced its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, beating analysts' consensus estimates of $4.40 by $0.07. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The firm had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same quarter in the previous year, the firm posted $4.01 EPS. The company's revenue for the quarter was up 11.4% compared to the same quarter last year. Equities analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, March 31st. Stryker's payout ratio is presently 41.90%.

Stryker Company Profile

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.

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