Murphy Capital Management Inc. lifted its holdings in shares of Stryker Co. (NYSE:SYK) by 1.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 32,420 shares of the medical technology company’s stock after buying an additional 535 shares during the quarter. Stryker makes up approximately 1.1% of Murphy Capital Management Inc.’s investment portfolio, making the stock its 29th largest position. Murphy Capital Management Inc.’s holdings in Stryker were worth $7,012,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in SYK. Massey Quick Simon & CO. LLC purchased a new position in shares of Stryker during the second quarter valued at approximately $27,000. Ossiam bought a new stake in shares of Stryker during the second quarter valued at approximately $33,000. Stonebridge Capital Advisors LLC bought a new stake in shares of Stryker during the second quarter valued at approximately $39,000. Webster Bank N. A. boosted its position in shares of Stryker by 300.0% during the second quarter. Webster Bank N. A. now owns 200 shares of the medical technology company’s stock valued at $41,000 after purchasing an additional 150 shares in the last quarter. Finally, Westside Investment Management Inc. bought a new stake in shares of Stryker during the second quarter valued at approximately $47,000. 72.95% of the stock is owned by institutional investors.
Several equities research analysts have commented on the company. Svb Leerink reissued an “outperform” rating on shares of Stryker in a report on Wednesday, July 10th. Credit Suisse Group boosted their target price on Stryker from $232.00 to $237.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Canaccord Genuity boosted their target price on Stryker from $195.00 to $233.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Barclays set a $226.00 target price on Stryker and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, BMO Capital Markets set a $216.00 target price on Stryker and gave the stock a “hold” rating in a report on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $214.89.
Shares of NYSE:SYK traded up $3.47 during midday trading on Friday, reaching $214.76. 22,322 shares of the company’s stock traded hands, compared to its average volume of 1,121,147. The company has a market cap of $77.77 billion, a price-to-earnings ratio of 29.38, a P/E/G ratio of 2.52 and a beta of 0.81. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 2.07. Stryker Co. has a one year low of $144.75 and a one year high of $223.45. The stock has a 50 day moving average of $217.04 and a 200 day moving average of $202.89.
Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, July 25th. The medical technology company reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.05. The firm had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.60 billion. Stryker had a return on equity of 25.98% and a net margin of 24.99%. The company’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.76 earnings per share. Sell-side analysts predict that Stryker Co. will post 8.21 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Friday, September 27th. Stryker’s dividend payout ratio (DPR) is presently 28.45%.
In related news, VP M Kathryn Fink sold 28,690 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $220.97, for a total transaction of $6,339,629.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Timothy J. Scannell sold 4,666 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $218.51, for a total value of $1,019,567.66. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,637 shares of company stock valued at $11,240,206. 7.20% of the stock is owned by company insiders.
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.
See Also: Buy-Side Analysts
Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Co. (NYSE:SYK).
Receive News & Ratings for Stryker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stryker and related companies with MarketBeat.com's FREE daily email newsletter.