D.A. Davidson & CO. Raises Holdings in Stryker Co. (SYK)

D.A. Davidson & CO. raised its stake in Stryker Co. (NYSE:SYK) by 1.0% in the third quarter, HoldingsChannel.com reports. The fund owned 56,184 shares of the medical technology company’s stock after buying an additional 564 shares during the quarter. D.A. Davidson & CO.’s holdings in Stryker were worth $9,983,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of SYK. Atlantic Trust LLC acquired a new position in Stryker in the second quarter valued at approximately $105,000. Centaurus Financial Inc. acquired a new position in shares of Stryker during the second quarter worth approximately $110,000. NuWave Investment Management LLC boosted its position in shares of Stryker by 3,245.0% during the third quarter. NuWave Investment Management LLC now owns 669 shares of the medical technology company’s stock worth $119,000 after buying an additional 649 shares during the period. Kaizen Advisory LLC boosted its position in shares of Stryker by 142.6% during the second quarter. Kaizen Advisory LLC now owns 752 shares of the medical technology company’s stock worth $127,000 after buying an additional 442 shares during the period. Finally, NumerixS Investment Technologies Inc acquired a new position in shares of Stryker during the second quarter worth approximately $135,000. Institutional investors own 74.87% of the company’s stock.

In related news, VP M Kathryn Fink sold 415 shares of the business’s stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $166.56, for a total transaction of $69,122.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Katherine Ann Owen sold 37,866 shares of the business’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $166.84, for a total value of $6,317,563.44. Following the sale, the vice president now directly owns 11,367 shares in the company, valued at approximately $1,896,470.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,031 shares of company stock worth $6,520,313. 7.40% of the stock is owned by corporate insiders.

SYK has been the subject of several analyst reports. Zacks Investment Research upgraded Stryker from a “hold” rating to a “buy” rating and set a $186.00 price objective for the company in a research report on Tuesday, August 7th. Cowen set a $195.00 price objective on Stryker and gave the stock a “buy” rating in a research report on Friday, November 9th. BTIG Research initiated coverage on Stryker in a research report on Thursday, August 16th. They set a “buy” rating and a $187.00 price objective for the company. Needham & Company LLC reiterated a “hold” rating on shares of Stryker in a research report on Tuesday, September 11th. Finally, Oppenheimer set a $170.00 price objective on Stryker and gave the stock a “hold” rating in a research report on Friday, October 26th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $181.86.

Shares of NYSE:SYK opened at $164.80 on Monday. Stryker Co. has a 12 month low of $146.80 and a 12 month high of $179.84. The company has a market cap of $61.67 billion, a P/E ratio of 25.39, a PEG ratio of 2.27 and a beta of 0.64. The company has a current ratio of 1.91, a quick ratio of 1.21 and a debt-to-equity ratio of 0.60.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, October 25th. The medical technology company reported $1.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.01. Stryker had a return on equity of 28.00% and a net margin of 9.31%. The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.26 billion. As a group, analysts anticipate that Stryker Co. will post 7.28 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Investors of record on Friday, September 28th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $1.88 annualized dividend and a yield of 1.14%. Stryker’s payout ratio is 28.97%.

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About Stryker

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 for use in various medical specialties.

See Also: Hedge Funds – How They Work For Investors

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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