HealthCor Management L.P. Purchases 768,710 Shares of Stryker Co. (SYK)

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HealthCor Management L.P. lifted its position in shares of Stryker Co. (NYSE:SYK) by 723.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 875,000 shares of the medical technology company’s stock after buying an additional 768,710 shares during the quarter. Stryker makes up 5.2% of HealthCor Management L.P.’s investment portfolio, making the stock its 5th largest position. HealthCor Management L.P. owned about 0.23% of Stryker worth $155,470,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of SYK. Fundsmith Equity Fund L.P. purchased a new stake in shares of Stryker during the second quarter worth about $931,542,000. Capital International Investors purchased a new stake in shares of Stryker during the third quarter worth about $831,822,000. Capital World Investors grew its holdings in shares of Stryker by 987.2% during the third quarter. Capital World Investors now owns 1,657,979 shares of the medical technology company’s stock worth $294,590,000 after buying an additional 1,505,479 shares in the last quarter. Winslow Capital Management LLC grew its holdings in shares of Stryker by 215,255.1% during the third quarter. Winslow Capital Management LLC now owns 1,109,079 shares of the medical technology company’s stock worth $197,061,000 after buying an additional 1,108,564 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Stryker by 24.0% during the second quarter. FMR LLC now owns 5,327,862 shares of the medical technology company’s stock worth $899,662,000 after buying an additional 1,032,333 shares in the last quarter. Institutional investors and hedge funds own 74.72% of the company’s stock.

Stryker stock opened at $166.56 on Friday. Stryker Co. has a 1 year low of $146.80 and a 1 year high of $179.84. The company has a market capitalization of $62.32 billion, a P/E ratio of 23.49, a P/E/G ratio of 2.28 and a beta of 0.66. The company has a quick ratio of 1.21, a current ratio of 1.91 and a debt-to-equity ratio of 0.60.

Stryker (NYSE:SYK) last released its earnings results on Thursday, October 25th. The medical technology company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.01. Stryker had a net margin of 9.31% and a return on equity of 28.00%. The firm had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.26 billion. On average, research analysts predict that Stryker Co. will post 7.28 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 31st. Investors of record on Monday, December 31st will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.25%. This is an increase from Stryker’s previous quarterly dividend of $0.47. The ex-dividend date is Friday, December 28th. Stryker’s payout ratio is presently 28.97%.

In other Stryker news, VP Bijoy Sagar sold 2,361 shares of the business’s stock in a transaction that occurred on Friday, December 7th. The shares were sold at an average price of $171.24, for a total transaction of $404,297.64. Following the completion of the sale, the vice president now directly owns 2,361 shares in the company, valued at $404,297.64. The transaction was disclosed in a legal filing with the SEC, which is available 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 stock was sold at an average price of $178.17, for a total transaction of $133,627.50. Following the sale, the chief financial officer now owns 2,785 shares of the company’s stock, valued at $496,203.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,526 shares of company stock valued at $607,048. 7.30% of the stock is owned by insiders.

SYK has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of Stryker in a report on Tuesday, September 11th. BTIG Research reiterated a “buy” rating and set a $187.00 price target on shares of Stryker in a report on Wednesday, September 12th. JPMorgan Chase & Co. lifted their price target on shares of Stryker to $200.00 and gave the stock an “overweight” rating in a report on Thursday, September 13th. Barclays initiated coverage on shares of Stryker in a report on Monday, October 15th. They set an “overweight” rating and a $198.00 price target for the company. Finally, Oppenheimer set a $170.00 price target on shares of Stryker and gave the stock a “hold” rating in a report on Friday, October 26th. Eight equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $182.32.

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Stryker Profile

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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