GAMMA Investing LLC Increases Stake in Stryker Co. (NYSE:SYK)

GAMMA Investing LLC lifted its stake in Stryker Co. (NYSE:SYK) by 57.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,091 shares of the medical technology company’s stock after purchasing an additional 767 shares during the quarter. GAMMA Investing LLC’s holdings in Stryker were worth $711,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of SYK. Aspen Investment Management Inc increased its position in shares of Stryker by 0.7% during the 1st quarter. Aspen Investment Management Inc now owns 4,368 shares of the medical technology company’s stock worth $1,563,000 after purchasing an additional 31 shares during the last quarter. Harbor Investment Advisory LLC grew its position in shares of Stryker by 0.4% during the first quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock worth $2,499,000 after buying an additional 31 shares in the last quarter. Proficio Capital Partners LLC grew its position in shares of Stryker by 2.4% during the first quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock worth $507,000 after buying an additional 33 shares in the last quarter. Consolidated Portfolio Review Corp grew its position in shares of Stryker by 3.6% during the fourth quarter. Consolidated Portfolio Review Corp now owns 983 shares of the medical technology company’s stock worth $294,000 after buying an additional 34 shares in the last quarter. Finally, FourThought Financial Partners LLC grew its position in shares of Stryker by 3.3% during the fourth quarter. FourThought Financial Partners LLC now owns 1,076 shares of the medical technology company’s stock worth $322,000 after buying an additional 34 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Activity at Stryker

In other news, 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 transaction of $6,660,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.90% of the stock is currently owned by corporate insiders.

Stryker Stock Performance

Shares of SYK traded down $14.88 during mid-day trading on Monday, hitting $316.68. The company’s stock had a trading volume of 1,543,859 shares, compared to its average volume of 1,322,741. Stryker Co. has a one year low of $249.98 and a one year high of $361.41. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.99 and a current ratio of 1.68. The firm has a market capitalization of $120.68 billion, a PE ratio of 37.85, a price-to-earnings-growth ratio of 2.56 and a beta of 0.89. The stock’s 50-day moving average is $338.87 and its two-hundred day moving average is $339.97.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. The company had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company posted $2.54 earnings per share. As a group, sell-side analysts anticipate that Stryker Co. will post 11.99 EPS for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were paid a $0.80 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $3.20 annualized dividend and a yield of 1.01%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group assumed coverage on Stryker in a research note on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price objective for the company. Roth Mkm raised their target price on shares of Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Barclays lifted their price target on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a report on Thursday. TD Cowen boosted their target price on shares of Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Finally, StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $373.11.

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.