Fortem Financial Group LLC Makes New Investment in Stryker Co. (NYSE:SYK)

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Fortem Financial Group LLC bought a new position in Stryker Co. (NYSE:SYK) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,635 shares of the medical technology company’s stock, valued at approximately $655,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Reitz Capital Advisors LLC bought a new position in shares of Stryker in the second quarter worth about $59,000. Stock Yards Bank & Trust Co. raised its stake in shares of Stryker by 3.8% in the second quarter. Stock Yards Bank & Trust Co. now owns 69,406 shares of the medical technology company’s stock worth $12,506,000 after acquiring an additional 2,528 shares during the last quarter. Taylor Cottrill Erickson & Associates Inc. raised its stake in shares of Stryker by 2.0% in the second quarter. Taylor Cottrill Erickson & Associates Inc. now owns 24,479 shares of the medical technology company’s stock worth $4,411,000 after acquiring an additional 485 shares during the last quarter. GPM Growth Investors Inc. raised its stake in shares of Stryker by 2.0% in the second quarter. GPM Growth Investors Inc. now owns 24,742 shares of the medical technology company’s stock worth $4,458,000 after acquiring an additional 478 shares during the last quarter. Finally, Toth Financial Advisory Corp raised its stake in shares of Stryker by 0.3% in the second quarter. Toth Financial Advisory Corp now owns 59,388 shares of the medical technology company’s stock worth $10,701,000 after acquiring an additional 197 shares during the last quarter. 71.24% of the stock is owned by institutional investors.

Shares of SYK traded up $4.80 during midday trading on Tuesday, hitting $182.71. The stock had a trading volume of 1,102,720 shares, compared to its average volume of 2,017,425. The company has a 50 day simple moving average of $187.95 and a two-hundred day simple moving average of $190.68. Stryker Co. has a twelve month low of $124.54 and a twelve month high of $226.30. The firm has a market cap of $66.68 billion, a price-to-earnings ratio of 32.11, a price-to-earnings-growth ratio of 3.11 and a beta of 0.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.58 and a quick ratio of 1.77.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, April 30th. The medical technology company reported $1.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.15. Stryker had a return on equity of 24.90% and a net margin of 14.47%. The firm had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter last year, the business posted $1.88 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. Analysts forecast that Stryker Co. will post 6.22 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a $0.575 dividend. This represents a $2.30 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Monday, June 29th. Stryker’s dividend payout ratio is 27.85%.

Several equities analysts recently weighed in on the stock. Wells Fargo & Co increased their price objective on shares of Stryker from $201.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Barclays lowered Stryker from an “equal weight” rating to an “underweight” rating and set a $155.00 price target on the stock. in a research report on Monday, April 13th. Cfra reduced their price target on Stryker from $234.00 to $231.00 and set a “strong-buy” rating on the stock in a research report on Friday, May 1st. Oppenheimer restated a “hold” rating and issued a $200.00 price target on shares of Stryker in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. reduced their price target on Stryker from $240.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 15th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Stryker currently has an average rating of “Buy” and a consensus price target of $214.23.

In related news, Director Allan C. Golston sold 7,299 shares of Stryker stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $193.23, for a total value of $1,410,385.77. Following the sale, the director now owns 13,972 shares of the company’s stock, valued at $2,699,809.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Srikant M. Datar sold 200 shares of Stryker stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $186.01, for a total value of $37,202.00. Following the completion of the sale, the director now directly owns 17,686 shares in the company, valued at approximately $3,289,772.86. The disclosure for this sale can be found here. Insiders sold a total of 30,670 shares of company stock worth $5,775,251 in the last three months. Company insiders own 6.80% of the company’s stock.

Stryker Company 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.

Further Reading: FinTech

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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