Mitchell Capital Management Co. Invests $739,000 in Stryker Corporation $SYK

Mitchell Capital Management Co. bought a new stake in Stryker Corporation (NYSE:SYK) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,000 shares of the medical technology company’s stock, valued at approximately $739,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SYK. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Stryker during the second quarter valued at approximately $26,000. Clayton Financial Group LLC acquired a new stake in Stryker during the 3rd quarter valued at $26,000. Elevation Point Wealth Partners LLC purchased a new stake in Stryker during the 2nd quarter worth $28,000. Kilter Group LLC acquired a new position in Stryker in the 2nd quarter worth $29,000. Finally, Howard Hughes Medical Institute acquired a new position in Stryker in the 2nd quarter worth $29,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SYK shares. BTIG Research raised their target price on Stryker from $410.00 to $412.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Royal Bank Of Canada restated an “outperform” rating and set a $435.00 price objective on shares of Stryker in a research note on Friday, November 14th. Citizens Jmp upgraded Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price objective on the stock in a report on Friday, December 19th. Wall Street Zen cut Stryker from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Evercore set a $390.00 price target on shares of Stryker in a research note on Monday, January 5th. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and an average target price of $426.94.

Stryker Price Performance

Shares of NYSE SYK opened at $363.76 on Thursday. The business has a 50 day simple moving average of $357.92 and a 200-day simple moving average of $369.84. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $404.87. The company has a market capitalization of $139.11 billion, a price-to-earnings ratio of 43.30, a price-to-earnings-growth ratio of 2.11 and a beta of 0.87. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, topping analysts’ consensus estimates of $4.40 by $0.07. The firm had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The firm’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.01 earnings per share. As a group, equities research analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.88 per share. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 annualized dividend and a yield of 1.0%. Stryker’s dividend payout ratio is 41.90%.

Insiders Place Their Bets

In other Stryker news, CAO William E. Berry, Jr. sold 1,953 shares of Stryker stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $365.49, for a total value of $713,801.97. Following the completion of the transaction, the chief accounting officer directly owned 2,833 shares in the company, valued at $1,035,433.17. The trade was a 40.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Preston Wendell Wells sold 165 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $365.88, for a total value of $60,370.20. Following the sale, the chief financial officer owned 6,694 shares in the company, valued at $2,449,200.72. The trade was a 2.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 252,118 shares of company stock valued at $91,504,172 over the last quarter. Insiders own 5.90% of the company’s stock.

Stryker Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.