Burney Co. Purchases New Stake in Stryker Co. (NYSE:SYK)

Burney Co. purchased a new stake in Stryker Co. (NYSE:SYK) in the first quarter, HoldingsChannel reports. The fund purchased 1,164 shares of the medical technology company’s stock, valued at approximately $230,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Stryker by 0.6% in the 1st quarter. BlackRock Inc. now owns 25,036,303 shares of the medical technology company’s stock valued at $4,945,168,000 after buying an additional 153,391 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in Stryker by 8,029.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,075,473 shares of the medical technology company’s stock valued at $39,000 after buying an additional 6,000,739 shares during the last quarter. FMR LLC increased its position in shares of Stryker by 6.3% during the 4th quarter. FMR LLC now owns 5,934,622 shares of the medical technology company’s stock valued at $930,251,000 after purchasing an additional 353,028 shares during the last quarter. Fundsmith LLP increased its position in shares of Stryker by 1.0% during the 1st quarter. Fundsmith LLP now owns 5,581,841 shares of the medical technology company’s stock valued at $1,102,525,000 after purchasing an additional 52,688 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Stryker by 1.2% during the 1st quarter. Northern Trust Corp now owns 3,903,582 shares of the medical technology company’s stock valued at $771,036,000 after purchasing an additional 46,183 shares during the last quarter. 73.61% of the stock is owned by institutional investors and hedge funds.

In other Stryker news, CFO Glenn S. Boehnlein sold 2,700 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $188.21, for a total value of $508,167.00. Following the completion of the transaction, the chief financial officer now owns 23,333 shares in the company, valued at approximately $4,391,503.93. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Bijoy Sagar sold 2,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $190.43, for a total value of $380,860.00. Following the completion of the transaction, the vice president now owns 3,350 shares of the company’s stock, valued at approximately $637,940.50. The disclosure for this sale can be found here. In the last three months, insiders sold 82,303 shares of company stock valued at $15,947,489. 7.20% of the stock is currently owned by insiders.

Shares of SYK opened at $195.47 on Friday. Stryker Co. has a fifty-two week low of $144.75 and a fifty-two week high of $199.85. The stock has a market capitalization of $72.93 billion, a P/E ratio of 26.74, a PEG ratio of 2.40 and a beta of 0.81. The company has a quick ratio of 1.30, a current ratio of 2.12 and a debt-to-equity ratio of 0.68.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, April 23rd. The medical technology company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.04. Stryker had a return on equity of 26.72% and a net margin of 25.38%. The company had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same quarter last year, the firm posted $1.68 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. Sell-side analysts expect that Stryker Co. will post 8.15 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, June 27th. Stryker’s dividend payout ratio (DPR) is currently 28.45%.

Several equities research analysts have recently issued reports on SYK shares. BTIG Research raised their target price on Stryker to $211.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $205.00 target price on shares of Stryker in a research report on Friday, March 1st. Barclays raised their target price on Stryker from $203.00 to $211.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. JPMorgan Chase & Co. raised their target price on Stryker from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Finally, ValuEngine lowered Stryker from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Stryker has an average rating of “Buy” and a consensus price target of $196.75.

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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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