Los Angeles Capital Management & Equity Research Inc. Increases Stake in Stryker Co. (SYK)

Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of Stryker Co. (NYSE:SYK) by 358.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 426,404 shares of the medical technology company’s stock after purchasing an additional 333,316 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.11% of Stryker worth $75,763,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of Stryker by 2.7% during the second quarter. BlackRock Inc. now owns 24,551,677 shares of the medical technology company’s stock valued at $4,145,795,000 after purchasing an additional 646,505 shares during the period. Fundsmith Equity Fund L.P. acquired a new position in shares of Stryker during the second quarter valued at about $931,542,000. FMR LLC increased its position 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 acquiring an additional 1,032,333 shares in the last quarter. Morgan Stanley increased its position in shares of Stryker by 7.3% during the second quarter. Morgan Stanley now owns 2,305,235 shares of the medical technology company’s stock worth $389,262,000 after acquiring an additional 157,400 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Stryker by 3.2% during 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 acquiring an additional 63,251 shares in the last quarter. Hedge funds and other institutional investors own 74.71% of the company’s stock.

In other Stryker news, CFO Glenn S. Boehnlein sold 750 shares of the company’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $178.17, for a total value of $133,627.50. Following the completion of the sale, the chief financial officer now directly owns 2,785 shares of the company’s stock, valued at approximately $496,203.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Katherine Ann Owen sold 37,866 shares of the company’s stock in a transaction dated 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 sale, the vice president now directly owns 11,367 shares of the company’s stock, valued at $1,896,470.28. The disclosure for this sale can be found here. Corporate insiders own 7.30% of the company’s stock.

Shares of SYK stock opened at $166.33 on Tuesday. Stryker Co. has a 52-week low of $146.80 and a 52-week high of $179.84. The company has a quick ratio of 1.21, a current ratio of 1.91 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $61.88 billion, a price-to-earnings ratio of 25.63, a PEG ratio of 2.27 and a beta of 0.64.

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

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Friday, September 28th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Thursday, September 27th. Stryker’s payout ratio is 28.97%.

Several equities research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Stryker from a “buy” rating to a “sell” rating in a research report on Wednesday, July 18th. BMO Capital Markets reissued a “hold” rating and set a $174.00 target price on shares of Stryker in a research report on Thursday, July 12th. JPMorgan Chase & Co. boosted their target price on shares of Stryker to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, September 13th. Citigroup boosted their target price on shares of Stryker from $171.00 to $173.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 25th. Finally, Cantor Fitzgerald boosted their target price on shares of Stryker from $170.00 to $175.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 25th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $181.15.

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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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