Institute for Wealth Management LLC. purchased a new position in shares of Stryker Corporation (NYSE:SYK) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,824 shares of the medical technology company’s stock, valued at approximately $393,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Bollard Group LLC boosted its holdings in Stryker Corporation by 0.4% during the second quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock worth $115,000 after buying an additional 3 shares in the last quarter. Assetmark Inc. boosted its holdings in Stryker Corporation by 0.3% during the first quarter. Assetmark Inc. now owns 1,274 shares of the medical technology company’s stock worth $168,000 after buying an additional 4 shares in the last quarter. Blue Chip Partners Inc. boosted its holdings in Stryker Corporation by 0.3% during the first quarter. Blue Chip Partners Inc. now owns 1,775 shares of the medical technology company’s stock worth $234,000 after buying an additional 6 shares in the last quarter. Guardian Life Insurance Co. of America boosted its holdings in Stryker Corporation by 0.8% during the first quarter. Guardian Life Insurance Co. of America now owns 1,199 shares of the medical technology company’s stock worth $158,000 after buying an additional 9 shares in the last quarter. Finally, FineMark National Bank & Trust boosted its holdings in Stryker Corporation by 0.4% during the second quarter. FineMark National Bank & Trust now owns 3,878 shares of the medical technology company’s stock worth $538,000 after buying an additional 15 shares in the last quarter. 74.10% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Stryker Corporation (NYSE:SYK) opened at 148.79 on Wednesday. The firm has a market capitalization of $55.66 billion, a PE ratio of 33.21 and a beta of 0.80. Stryker Corporation has a 12 month low of $106.48 and a 12 month high of $149.23. The stock has a 50 day moving average of $143.05 and a 200-day moving average of $140.60.

Stryker Corporation (NYSE:SYK) last announced its earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the previous year, the company posted $1.39 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities research analysts anticipate that Stryker Corporation will post $6.45 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be paid a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 1.14%. The ex-dividend date is Thursday, September 28th. Stryker Corporation’s payout ratio is 37.95%.

A number of analysts recently issued reports on SYK shares. Zacks Investment Research raised shares of Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 price target on the stock in a report on Monday, July 17th. Cowen and Company reissued a “buy” rating and set a $160.00 price target (up from $150.00) on shares of Stryker Corporation in a report on Sunday, July 30th. Stifel Nicolaus upped their price objective on shares of Stryker Corporation from $151.00 to $158.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. BidaskClub upgraded shares of Stryker Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Finally, Canaccord Genuity restated a “buy” rating and set a $155.00 price objective (down from $158.00) on shares of Stryker Corporation in a research report on Thursday, August 24th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $146.78.

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In related news, insider Graham A. Mclean sold 1,124 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $146.26, for a total value of $164,396.24. Following the completion of the transaction, the insider now owns 8,983 shares of the company’s stock, valued at approximately $1,313,853.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lonny J. Carpenter sold 5,000 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $146.36, for a total transaction of $731,800.00. Following the completion of the transaction, the insider now directly owns 88,207 shares of the company’s stock, valued at approximately $12,909,976.52. The disclosure for this sale can be found here. Insiders own 7.40% of the company’s stock.

About Stryker Corporation

Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.

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Institutional Ownership by Quarter for Stryker Corporation (NYSE:SYK)

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