Frank Rimerman Advisors LLC Boosts Stock Position in Stryker Co. (NYSE:SYK)

Frank Rimerman Advisors LLC lifted its position in shares of Stryker Co. (NYSE:SYK) by 33.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,977 shares of the medical technology company’s stock after buying an additional 1,510 shares during the period. Frank Rimerman Advisors LLC’s holdings in Stryker were worth $2,159,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Centennial Bank AR lifted its holdings in shares of Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 48 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in Stryker during the 1st quarter valued at $39,000. HBW Advisory Services LLC purchased a new stake in Stryker during the 3rd quarter valued at $42,000. Grove Bank & Trust increased its position in shares of Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after acquiring an additional 56 shares during the period. Finally, DT Investment Partners LLC raised its stake in shares of Stryker by 114.3% during the third quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock valued at $49,000 after acquiring an additional 72 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SYK. Needham & Company LLC raised their target price on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Stifel Nicolaus cut their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. UBS Group boosted their price objective 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. Finally, Morgan Stanley raised their target price on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $381.16.

Insider Transactions at Stryker

In related news, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,685,213.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Viju Menon sold 600 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now owns 9,069 shares in the company, valued at $3,219,495. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 220,068 shares of company stock worth $71,811,372 over the last quarter. 5.90% of the stock is currently owned by insiders.

Stryker Price Performance

SYK opened at $352.82 on Friday. The firm has a market cap of $134.41 billion, a PE ratio of 40.28, a P/E/G ratio of 2.83 and a beta of 0.91. The stock has a 50-day moving average price of $358.80 and a 200-day moving average price of $343.67. Stryker Co. has a 1 year low of $255.22 and a 1 year high of $374.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the previous year, the company earned $2.54 earnings per share. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. Sell-side analysts predict that Stryker Co. will post 12 earnings per share for the current fiscal 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 issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s payout ratio is 36.53%.

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.