MML Investors Services LLC Increases Stake in Stryker Co. (NYSE:SYK)

MML Investors Services LLC boosted its stake in shares of Stryker Co. (NYSE:SYK) by 6.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,392 shares of the medical technology company’s stock after acquiring an additional 2,098 shares during the quarter. MML Investors Services LLC’s holdings in Stryker were worth $12,786,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SYK. ORG Partners LLC increased its position in shares of Stryker by 788.2% in the second quarter. ORG Partners LLC now owns 302 shares of the medical technology company’s stock valued at $102,000 after buying an additional 268 shares in the last quarter. GPS Wealth Strategies Group LLC increased its position in shares of Stryker by 32.2% in the second quarter. GPS Wealth Strategies Group LLC now owns 484 shares of the medical technology company’s stock valued at $165,000 after buying an additional 118 shares in the last quarter. PGGM Investments increased its position in shares of Stryker by 7.9% in the second quarter. PGGM Investments now owns 7,407 shares of the medical technology company’s stock valued at $2,520,000 after buying an additional 543 shares in the last quarter. Redhawk Wealth Advisors Inc. boosted its stake in shares of Stryker by 9.8% in the second quarter. Redhawk Wealth Advisors Inc. now owns 615 shares of the medical technology company’s stock worth $209,000 after acquiring an additional 55 shares during the last quarter. Finally, SteelPeak Wealth LLC boosted its stake in shares of Stryker by 16.9% in the second quarter. SteelPeak Wealth LLC now owns 742 shares of the medical technology company’s stock worth $253,000 after acquiring an additional 107 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Stryker

In related news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,715,540. This represents a 17.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,781 shares of company stock valued at $24,612,275. 5.50% of the stock is currently owned by corporate insiders.

Stryker Price Performance

Shares of NYSE SYK opened at $382.87 on Wednesday. The stock’s 50-day moving average is $371.49 and its two-hundred day moving average is $354.02. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. Stryker Co. has a 1-year low of $285.79 and a 1-year high of $398.20. The company has a market cap of $145.96 billion, a price-to-earnings ratio of 41.02, a price-to-earnings-growth ratio of 2.90 and a beta of 0.94.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.10. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.46 EPS. Analysts forecast that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.84 per share. This is a boost from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. Stryker’s dividend payout ratio is currently 34.30%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SYK. Wells Fargo & Company lifted their price target on Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Evercore ISI lifted their price target on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Citigroup lifted their price target on Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. lifted their price target on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a research note on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $398.40.

About Stryker

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.