Cornerstone Planning Group LLC Purchases 38 Shares of Stryker Co. (NYSE:SYK)

Cornerstone Planning Group LLC lifted its position in shares of Stryker Co. (NYSE:SYKFree Report) by 30.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 163 shares of the medical technology company’s stock after buying an additional 38 shares during the quarter. Cornerstone Planning Group LLC’s holdings in Stryker were worth $45,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Everett Harris & Co. CA boosted its position in Stryker by 0.6% during the second quarter. Everett Harris & Co. CA now owns 6,307 shares of the medical technology company’s stock valued at $1,924,000 after purchasing an additional 35 shares in the last quarter. Tortoise Investment Management LLC raised its stake in Stryker by 2.5% in the second quarter. Tortoise Investment Management LLC now owns 1,451 shares of the medical technology company’s stock valued at $443,000 after buying an additional 35 shares during the last quarter. Mendel Money Management raised its stake in Stryker by 3.5% in the second quarter. Mendel Money Management now owns 1,073 shares of the medical technology company’s stock valued at $327,000 after buying an additional 36 shares during the last quarter. RFG Advisory LLC raised its stake in Stryker by 4.2% in the second quarter. RFG Advisory LLC now owns 938 shares of the medical technology company’s stock valued at $286,000 after buying an additional 38 shares during the last quarter. Finally, PDS Planning Inc raised its stake in shares of Stryker by 3.0% in the third quarter. PDS Planning Inc now owns 1,318 shares of the medical technology company’s stock worth $360,000 after purchasing an additional 38 shares during the last quarter. Institutional investors own 76.24% of the company’s stock.

Stryker Stock Performance

Shares of NYSE:SYK opened at $342.91 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97. The business’s 50 day moving average price is $303.93 and its 200-day moving average price is $288.00. The firm has a market capitalization of $130.27 billion, a PE ratio of 41.56, a P/E/G ratio of 2.78 and a beta of 0.90. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $346.59.

Stryker (NYSE:SYKGet Free Report) last issued its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. The firm had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The business’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.00 earnings per share. As a group, equities research analysts expect that Stryker Co. will post 11.87 earnings per share for the current fiscal year.

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Friday, December 29th were given a dividend of $0.80 per share. This is an increase from Stryker’s previous quarterly dividend of $0.75. The ex-dividend date was Thursday, December 28th. This represents a $3.20 dividend on an annualized basis and a yield of 0.93%. Stryker’s dividend payout ratio (DPR) is presently 38.79%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SYK shares. Wells Fargo & Company raised their price objective on Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and set a $360.00 price target for the company in a research report on Wednesday, January 31st. Citigroup lifted their price target on Stryker from $340.00 to $362.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Finally, UBS Group lifted their price target on Stryker from $289.00 to $297.00 and gave the company a “neutral” rating in a research report on Thursday, November 9th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $331.52.

Read Our Latest Stock Report on SYK

Insider Buying and Selling

In other Stryker news, CAO William E. Berry, Jr. sold 573 shares of Stryker stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $292.28, for a total value of $167,476.44. Following the sale, the chief accounting officer now owns 2,909 shares in the company, valued at $850,242.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Stryker news, CAO William E. Berry, Jr. sold 573 shares of Stryker stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $292.28, for a total value of $167,476.44. Following the sale, the chief accounting officer now owns 2,909 shares in the company, valued at $850,242.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Srikant M. Datar sold 500 shares of Stryker stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $291.92, for a total value of $145,960.00. Following the completion of the sale, the director now owns 4,316 shares in the company, valued at approximately $1,259,926.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,306 shares of company stock worth $16,791,134. 5.90% of the stock is owned by corporate insiders.

Stryker Profile

(Free Report)

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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.

See Also

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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