Cohen Capital Management Inc. Buys 771 Shares of Stryker Co. (NYSE:SYK)

Cohen Capital Management Inc. boosted its position in Stryker Co. (NYSE:SYK) by 0.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 85,854 shares of the medical technology company’s stock after purchasing an additional 771 shares during the period. Stryker makes up about 5.0% of Cohen Capital Management Inc.’s portfolio, making the stock its 4th largest holding. Cohen Capital Management Inc.’s holdings in Stryker were worth $31,016,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SYK. Koshinski Asset Management Inc. bought a new position in shares of Stryker in the first quarter valued at $795,000. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Stryker by 43.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock valued at $6,617,000 after purchasing an additional 5,565 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Stryker by 38.5% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock valued at $7,084,000 after purchasing an additional 5,502 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Stryker by 78.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock worth $45,260,000 after purchasing an additional 58,673 shares in the last quarter. Finally, M&G Plc acquired a new stake in Stryker during the 1st quarter worth about $11,534,000. 77.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wolfe Research began coverage on shares of Stryker in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price on the stock. Stifel Nicolaus reduced their target price on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Wells Fargo & Company upped their price target on Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Evercore ISI raised their price objective on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Citigroup increased their price target on shares of Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and an average price target of $393.65.

Stryker Stock Up 3.1 %

Shares of SYK stock opened at $367.15 on Monday. The company has a market capitalization of $139.96 billion, a price-to-earnings ratio of 39.35, a PEG ratio of 2.69 and a beta of 0.91. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.95 and a current ratio of 1.91. The stock’s 50 day simple moving average is $360.18 and its 200 day simple moving average is $344.36. Stryker Co. has a twelve month low of $266.93 and a twelve month high of $374.63.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same quarter last year, the firm posted $2.46 earnings per share. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, research analysts predict that Stryker Co. will post 12.06 EPS for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.87%. Stryker’s dividend payout ratio is 34.30%.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the sale, the director now owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 200,068 shares of company stock worth $65,151,372. 5.90% of the stock is owned by corporate insiders.

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.