Lokken Investment Group LLC Increases Stock Holdings in Stryker Co. (NYSE:SYK)

Lokken Investment Group LLC raised its position in Stryker Co. (NYSE:SYK) by 11.5% in the 2nd quarter, Holdings Channel reports. The fund owned 3,441 shares of the medical technology company’s stock after purchasing an additional 356 shares during the period. Lokken Investment Group LLC’s holdings in Stryker were worth $1,171,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. CCLA Investment Management grew its holdings in Stryker by 1.1% during the 2nd quarter. CCLA Investment Management now owns 299,901 shares of the medical technology company’s stock valued at $102,048,000 after purchasing an additional 3,331 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Stryker by 11.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 35,086 shares of the medical technology company’s stock worth $11,938,000 after buying an additional 3,732 shares in the last quarter. Tredje AP fonden boosted its position in Stryker by 23.8% in the 2nd quarter. Tredje AP fonden now owns 108,662 shares of the medical technology company’s stock valued at $36,972,000 after buying an additional 20,857 shares during the last quarter. Argent Trust Co increased its position in shares of Stryker by 11.7% during the second quarter. Argent Trust Co now owns 6,918 shares of the medical technology company’s stock worth $2,354,000 after acquiring an additional 722 shares during the last quarter. Finally, Cranbrook Wealth Management LLC lifted its stake in shares of Stryker by 362.2% in the second quarter. Cranbrook Wealth Management LLC now owns 3,448 shares of the medical technology company’s stock worth $1,173,000 after acquiring an additional 2,702 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Down 2.1 %

Stryker stock opened at $364.00 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. Stryker Co. has a one year low of $249.98 and a one year high of $374.63. The company has a 50-day simple moving average of $343.60 and a 200-day simple moving average of $342.61. The firm has a market capitalization of $138.71 billion, a P/E ratio of 41.55, a P/E/G ratio of 2.87 and a beta of 0.91.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping the consensus estimate of $2.79 by $0.02. The firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. Stryker’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.54 EPS. As a group, equities analysts expect that Stryker Co. will post 12 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.88%. The ex-dividend date is Monday, September 30th. Stryker’s payout ratio is currently 36.53%.

Insiders Place Their Bets

In related news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction dated 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 sale, the chief financial officer now directly owns 2,852 shares in the company, valued at $949,716. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,685,213.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 value 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 approximately $949,716. The disclosure for this sale can be found here. In the last quarter, insiders sold 220,068 shares of company stock worth $71,811,372. 5.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SYK. Evercore ISI cut their target price on Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Wolfe Research began coverage on shares of Stryker in a report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price target on the stock. The Goldman Sachs Group started coverage on shares of Stryker in a research note on Thursday, May 30th. They set a “neutral” rating and a $372.00 price objective on the stock. UBS Group boosted their target price on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Needham & Company LLC increased their price target on shares of Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $378.58.

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.