Benjamin Edwards Inc. Raises Stock Holdings in Stryker Corporation (NYSE:SYK)

Key Points

• Benjamin Edwards Inc. increased its stake in Stryker Corporation by 12.6%, acquiring an additional 17,840 shares, which now constitutes about 0.8% of its total holdings.
• Director Ronda E. Stryker sold 200,000 shares for approximately $75.29 million, reducing her ownership stake by 5.84%.
• Stryker announced a quarterly dividend of $0.84, with a payout ratio of 44.50%, reflecting the company's stable financial positioning within the medical technology sector.

Benjamin Edwards Inc. lifted its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 12.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 159,879 shares of the medical technology company's stock after buying an additional 17,840 shares during the period. Stryker accounts for approximately 0.8% of Benjamin Edwards Inc.'s holdings, making the stock its 26th biggest position. Benjamin Edwards Inc.'s holdings in Stryker were worth $59,515,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its stake in Stryker by 15.4% during the 4th 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 period. DRW Securities LLC acquired a new stake in Stryker during the fourth quarter valued at approximately $256,000. Legacy Financial Advisors Inc. raised its holdings in shares of Stryker by 20.5% during the fourth quarter. Legacy Financial Advisors Inc. now owns 1,099 shares of the medical technology company's stock valued at $396,000 after acquiring an additional 187 shares during the period. Kennedy Capital Management LLC increased its stake in Stryker by 116.6% in the 4th quarter. Kennedy Capital Management LLC now owns 9,753 shares of the medical technology company's stock valued at $3,512,000 after buying an additional 5,251 shares during the period. Finally, First Foundation Advisors grew its position in Stryker by 6.2% in the fourth quarter. First Foundation Advisors now owns 804 shares of the medical technology company's stock worth $289,000 after acquiring an additional 47 shares in the last quarter. Institutional investors own 77.09% of the company's stock.

Stryker Stock Down 0.2%

NYSE:SYK traded down $0.83 during trading hours on Monday, hitting $376.75. 1,128,000 shares of the company traded hands, compared to its average volume of 1,340,536. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The firm's 50-day simple moving average is $387.17 and its 200-day simple moving average is $379.98. Stryker Corporation has a one year low of $323.73 and a one year high of $406.19. The company has a market cap of $144.04 billion, a PE ratio of 49.90, a PEG ratio of 2.74 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, topping analysts' consensus estimates of $3.07 by $0.06. The company had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.81 EPS. Equities analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a $0.84 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 annualized dividend and a yield of 0.9%. Stryker's payout ratio is presently 44.50%.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the completion of the sale, the director owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.20% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Needham & Company LLC increased their target price on shares of Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Citigroup reissued a "buy" rating and set a $455.00 price objective (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Finally, Wells Fargo & Company raised their target price on shares of Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $430.10.

Stryker Company 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.