Kornitzer Capital Management Inc. KS Grows Position in Stryker Co. (NYSE:SYK)

Kornitzer Capital Management Inc. KS raised its holdings in shares of Stryker Co. (NYSE:SYK) by 2.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 7,932 shares of the medical technology company’s stock after purchasing an additional 179 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Stryker were worth $2,699,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Burkett Financial Services LLC bought a new position in Stryker in the fourth quarter worth approximately $25,000. DSM Capital Partners LLC purchased a new position in shares of Stryker in the 4th quarter valued at $34,000. Central Pacific Bank Trust Division bought a new position in shares of Stryker in the 1st quarter worth $39,000. Private Wealth Management Group LLC bought a new stake in Stryker during the fourth quarter valued at about $40,000. Finally, Advantage Trust Co purchased a new position in Stryker in the fourth quarter valued at about $60,000. Institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling 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 shares were 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 owns 2,852 shares of the company’s stock, valued at $949,716. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Viju Menon sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 210,600 shares of company stock worth $68,330,400. Corporate insiders own 5.90% of the company’s stock.

Stryker Price Performance

Shares of NYSE SYK opened at $358.00 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. The firm has a market cap of $136.43 billion, a PE ratio of 40.87, a PEG ratio of 2.78 and a beta of 0.91. Stryker Co. has a one year low of $249.98 and a one year high of $364.36. The firm has a fifty day moving average of $338.69 and a 200 day moving average of $341.91.

Stryker (NYSE:SYK) last issued its quarterly 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. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the company posted $2.54 EPS. Stryker’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, research analysts predict that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

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

Analyst Ratings Changes

Several analysts have commented on SYK shares. UBS Group increased their price target on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Truist Financial cut their price target on shares of Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. The Goldman Sachs Group started coverage on Stryker in a report on Thursday, May 30th. They set a “neutral” rating and a $372.00 price objective for the company. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. Finally, Evercore ISI lowered their price target on Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $377.11.

Stryker Company 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.