Stryker Co. (NYSE:SYK) Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. raised its stake in Stryker Co. (NYSE:SYK) by 4.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,249 shares of the medical technology company’s stock after acquiring an additional 2,822 shares during the period. QRG Capital Management Inc.’s holdings in Stryker were worth $22,127,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Stryker by 1.0% in the first quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock valued at $11,258,373,000 after acquiring an additional 309,592 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Stryker by 10.4% during the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after buying an additional 813,311 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of Stryker by 2.9% during the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock valued at $790,554,000 after buying an additional 66,482 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of Stryker by 2.9% during the first quarter. TD Asset Management Inc now owns 1,601,380 shares of the medical technology company’s stock valued at $573,086,000 after buying an additional 44,765 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Stryker by 4.0% in the second quarter. The Manufacturers Life Insurance Company now owns 1,209,769 shares of the medical technology company’s stock valued at $411,624,000 after buying an additional 46,375 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Viju Menon sold 600 shares of Stryker stock in a transaction that occurred on 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 sale, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the transaction, the director now owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Viju Menon sold 600 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 200,068 shares of company stock valued at $65,151,372. Insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Shares of SYK traded up $1.02 during mid-day trading on Monday, reaching $368.17. The company’s stock had a trading volume of 36,709 shares, compared to its average volume of 1,253,286. Stryker Co. has a 1-year low of $266.93 and a 1-year high of $374.63. The stock has a market cap of $140.35 billion, a P/E ratio of 39.35, a PEG ratio of 2.69 and a beta of 0.91. The business has a 50-day simple moving average of $360.18 and a two-hundred day simple moving average of $344.36. The company has a current ratio of 1.91, a quick ratio of 0.95 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.10. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the firm posted $2.46 EPS. As a group, equities research analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.87%. Stryker’s payout ratio is currently 34.30%.

Analysts Set New Price Targets

SYK has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Robert W. Baird upped their price objective on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Barclays increased their price target on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Canaccord Genuity Group upped their price target on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

About Stryker

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.