Park Place Capital Corp Purchases 487 Shares of Stryker Co. (NYSE:SYK)

Park Place Capital Corp boosted its position in Stryker Co. (NYSE:SYK) by 36.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,815 shares of the medical technology company’s stock after purchasing an additional 487 shares during the period. Park Place Capital Corp’s holdings in Stryker were worth $618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Stryker during the fourth quarter valued at approximately $1,260,562,000. Global Assets Advisory LLC bought a new stake in shares of Stryker during the first quarter valued at approximately $341,049,000. JPMorgan Chase & Co. raised its stake 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 acquiring an additional 813,311 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Stryker by 5.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after acquiring an additional 642,178 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its stake in shares of Stryker by 146.9% during the first quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock valued at $314,449,000 after acquiring an additional 522,817 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling

In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s 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 completion of the transaction, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 5.90% of the company’s stock.

Stryker Price Performance

Shares of Stryker stock traded down $1.61 during trading hours on Friday, reaching $331.56. The stock had a trading volume of 1,738,648 shares, compared to its average volume of 1,432,445. The stock’s 50 day moving average is $338.87 and its 200 day moving average is $339.97. The firm has a market capitalization of $126.35 billion, a PE ratio of 37.85, a PEG ratio of 2.56 and a beta of 0.89. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41. The company has a current ratio of 1.68, a quick ratio of 0.99 and a debt-to-equity ratio of 0.51.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share 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 firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the prior year, the firm earned $2.54 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities analysts expect that Stryker Co. will post 11.99 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were given a dividend of $0.80 per share. The ex-dividend date was Friday, June 28th. This represents a $3.20 annualized dividend and a dividend yield of 0.97%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SYK shares. The Goldman Sachs Group started coverage on shares of Stryker in a report on Thursday, May 30th. They set a “neutral” rating and a $372.00 price objective on the stock. Roth Mkm lifted their price objective on shares of Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Morgan Stanley lifted their price objective on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. BTIG Research cut their price objective on shares of Stryker from $372.00 to $360.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, UBS Group lifted their price objective on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.