Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Position in Stryker Co. (NYSE:SYK)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Stryker Co. (NYSE:SYK) by 16.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,811 shares of the medical technology company’s stock after purchasing an additional 10,304 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Stryker were worth $14,968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Farmers National Bank purchased a new position in shares of Stryker during the first quarter worth approximately $25,000. Cable Hill Partners LLC purchased a new position in shares of Stryker during the first quarter worth approximately $30,000. RPG Investment Advisory LLC increased its stake in shares of Stryker by 160.0% in the first quarter. RPG Investment Advisory LLC now owns 156 shares of the medical technology company’s stock worth $31,000 after buying an additional 96 shares during the period. Horan Capital Advisors LLC. purchased a new position in shares of Stryker in the first quarter worth $40,000. Finally, Webster Bank N. A. increased its stake in shares of Stryker by 300.0% in the second quarter. Webster Bank N. A. now owns 200 shares of the medical technology company’s stock worth $41,000 after buying an additional 150 shares during the period. 73.26% of the stock is currently owned by institutional investors and hedge funds.

In other news, CFO Glenn S. Boehnlein sold 2,700 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $214.16, for a total transaction of $578,232.00. Following the sale, the chief financial officer now owns 20,633 shares in the company, valued at approximately $4,418,763.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Timothy J. Scannell sold 4,666 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $186.71, for a total transaction of $871,188.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,097 shares of company stock worth $4,045,678. 7.20% of the stock is currently owned by company insiders.

Several brokerages recently commented on SYK. Piper Jaffray Companies lifted their target price on shares of Stryker from $205.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Robert W. Baird lifted their target price on shares of Stryker from $206.00 to $239.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Barclays set a $226.00 target price on shares of Stryker and gave the stock a “buy” rating in a research note on Friday, July 26th. BTIG Research reaffirmed a “buy” rating and issued a $228.00 target price on shares of Stryker in a research note on Monday, July 29th. Finally, Cantor Fitzgerald lifted their target price on shares of Stryker from $190.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $214.89.

NYSE:SYK traded up $0.95 during trading hours on Friday, hitting $218.74. The company had a trading volume of 898,529 shares, compared to its average volume of 1,166,309. The firm has a market cap of $81.48 billion, a P/E ratio of 29.92, a PEG ratio of 2.64 and a beta of 0.85. The company’s 50-day simple moving average is $208.77. Stryker Co. has a 52 week low of $144.75 and a 52 week high of $222.59. The company has a quick ratio of 1.26, a current ratio of 2.07 and a debt-to-equity ratio of 0.67.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, July 25th. The medical technology company reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.05. The business had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.60 billion. Stryker had a net margin of 24.99% and a return on equity of 25.98%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.76 earnings per share. On average, sell-side analysts forecast that Stryker Co. will post 8.2 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Friday, September 27th. Stryker’s dividend payout ratio (DPR) is currently 28.45%.

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.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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