Columbia Asset Management Has $5.76 Million Position in Stryker Co. (NYSE:SYK)

Columbia Asset Management raised its position in Stryker Co. (NYSE:SYK) by 1.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,935 shares of the medical technology company’s stock after buying an additional 272 shares during the quarter. Stryker accounts for 1.1% of Columbia Asset Management’s holdings, making the stock its 26th biggest holding. Columbia Asset Management’s holdings in Stryker were worth $5,762,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Precision Wealth Strategies LLC boosted its holdings in Stryker by 2.1% in the 4th quarter. Precision Wealth Strategies LLC now owns 3,114 shares of the medical technology company’s stock valued at $933,000 after purchasing an additional 65 shares during the period. Wealthcare Advisory Partners LLC bought a new stake in shares of Stryker in the fourth quarter valued at approximately $222,000. Private Advisor Group LLC grew its position in Stryker by 9.1% during the fourth quarter. Private Advisor Group LLC now owns 14,658 shares of the medical technology company’s stock worth $4,390,000 after buying an additional 1,224 shares in the last quarter. Gryphon Financial Partners LLC acquired a new stake in Stryker during the fourth quarter worth approximately $348,000. Finally, Bogart Wealth LLC increased its stake in Stryker by 414.3% during the 4th quarter. Bogart Wealth LLC now owns 216 shares of the medical technology company’s stock worth $65,000 after acquiring an additional 174 shares during the period. Institutional investors own 77.09% of the company’s stock.

Stryker Trading Down 0.6 %

SYK opened at $358.00 on Friday. The company’s 50 day moving average price is $338.69 and its two-hundred day moving average price is $341.91. The firm has a market capitalization of $136.43 billion, a price-to-earnings ratio of 40.87, a PEG ratio of 2.78 and a beta of 0.91. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $364.36. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the previous year, the company posted $2.54 EPS. The business’s revenue was up 8.5% on a year-over-year basis. As a group, research analysts predict that Stryker Co. will post 12 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.89%. Stryker’s payout ratio is 36.53%.

Insider Buying and Selling at Stryker

In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the sale, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Stryker news, insider Viju Menon sold 600 shares of Stryker stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction 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 sale, the chief financial officer now owns 2,852 shares of the company’s stock, valued at approximately $949,716. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 210,600 shares of company stock valued at $68,330,400. 5.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on SYK. BTIG Research increased their target price on Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Evercore ISI decreased their target price on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $386.00 price target on shares of Stryker in a research report on Wednesday, July 31st. Finally, Needham & Company LLC boosted their price objective on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and a consensus price target of $377.11.

Stryker 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.