Kovack Advisors Inc. Buys New Holdings in Stryker Co. (SYK)

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Kovack Advisors Inc. bought a new position in Stryker Co. (NYSE:SYK) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,220 shares of the medical technology company’s stock, valued at approximately $217,000.

Several other hedge funds have also recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Stryker by 2.7% in the second quarter. BlackRock Inc. now owns 24,551,677 shares of the medical technology company’s stock worth $4,145,795,000 after purchasing an additional 646,505 shares during the last quarter. Fundsmith Equity Fund L.P. bought a new stake in shares of Stryker in the second quarter worth about $931,542,000. FMR LLC increased its holdings in shares of Stryker by 24.0% in the second quarter. FMR LLC now owns 5,327,862 shares of the medical technology company’s stock worth $899,662,000 after purchasing an additional 1,032,333 shares during the last quarter. Morgan Stanley increased its holdings in shares of Stryker by 7.3% in the second quarter. Morgan Stanley now owns 2,305,235 shares of the medical technology company’s stock worth $389,262,000 after purchasing an additional 157,400 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Stryker by 3.2% in the second quarter. Wells Fargo & Company MN now owns 2,037,752 shares of the medical technology company’s stock worth $344,094,000 after purchasing an additional 63,251 shares during the last quarter. 75.11% of the stock is currently owned by hedge funds and other institutional investors.

In other Stryker news, VP Katherine Ann Owen sold 37,866 shares of the business’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $166.84, for a total transaction of $6,317,563.44. Following the completion of the transaction, the vice president now owns 11,367 shares in the company, valued at $1,896,470.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Glenn S. Boehnlein sold 750 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $178.17, for a total value of $133,627.50. Following the transaction, the chief financial officer now owns 2,785 shares of the company’s stock, valued at approximately $496,203.45. The disclosure for this sale can be found here. 7.30% of the stock is owned by insiders.

Several brokerages have recently issued reports on SYK. Citigroup lifted their target price on Stryker from $171.00 to $173.00 and gave the stock a “neutral” rating in a report on Wednesday, July 25th. BMO Capital Markets reissued a “hold” rating and set a $174.00 price objective on shares of Stryker in a research note on Thursday, July 12th. Robert W. Baird boosted their price objective on Stryker from $187.00 to $192.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 25th. Zacks Investment Research raised Stryker from a “hold” rating to a “buy” rating and set a $191.00 price objective on the stock in a research note on Wednesday, June 20th. Finally, Canaccord Genuity reissued a “buy” rating and set a $185.00 price objective on shares of Stryker in a research note on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $178.33.

Shares of NYSE:SYK opened at $171.04 on Friday. Stryker Co. has a 1 year low of $146.10 and a 1 year high of $179.84. The company has a market cap of $66.45 billion, a price-to-earnings ratio of 26.35, a price-to-earnings-growth ratio of 2.49 and a beta of 0.59. The company has a quick ratio of 1.15, a current ratio of 1.83 and a debt-to-equity ratio of 0.63.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, July 24th. The medical technology company reported $1.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.03. Stryker had a return on equity of 26.93% and a net margin of 8.28%. The business had revenue of $3.32 billion during the quarter, compared to analyst estimates of $3.31 billion. During the same quarter in the previous year, the business earned $1.53 earnings per share. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. Analysts anticipate that Stryker Co. will post 7.25 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Friday, September 28th will be given a dividend of $0.47 per share. The ex-dividend date is Thursday, September 27th. This represents a $1.88 annualized dividend and a dividend yield of 1.10%. Stryker’s dividend payout ratio (DPR) is presently 28.97%.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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