MGO One Seven LLC Purchases 3,905 Shares of Stryker Corporation $SYK

MGO One Seven LLC grew its position in Stryker Corporation (NYSE:SYK) by 78.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 8,878 shares of the medical technology company’s stock after acquiring an additional 3,905 shares during the period. MGO One Seven LLC’s holdings in Stryker were worth $3,282,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Stryker by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock valued at $13,253,831,000 after acquiring an additional 440,607 shares in the last quarter. State Street Corp raised its stake in Stryker by 1.0% in the second quarter. State Street Corp now owns 14,956,732 shares of the medical technology company’s stock valued at $5,929,765,000 after buying an additional 150,204 shares during the period. Geode Capital Management LLC increased its holdings in shares of Stryker by 1.1% in the second quarter. Geode Capital Management LLC now owns 7,393,611 shares of the medical technology company’s stock valued at $2,910,445,000 after purchasing an additional 79,654 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Stryker by 307.6% in the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock valued at $2,214,146,000 after purchasing an additional 4,223,366 shares during the period. Finally, Norges Bank bought a new stake in shares of Stryker during the 2nd quarter worth about $1,882,173,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the topic of several research reports. Needham & Company LLC restated a “buy” rating and issued a $448.00 price target on shares of Stryker in a research note on Friday, November 14th. Wall Street Zen raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Sunday, December 21st. Raymond James Financial raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 target price on the stock in a report on Tuesday, January 6th. UBS Group set a $408.00 price target on shares of Stryker in a research note on Monday, October 13th. Finally, Rothschild Redb upgraded shares of Stryker to a “hold” rating in a research report on Thursday, September 18th. Fourteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus price target of $430.00.

Stryker Stock Down 1.5%

Stryker stock opened at $355.80 on Wednesday. The firm has a market cap of $136.06 billion, a price-to-earnings ratio of 46.75, a PEG ratio of 2.32 and a beta of 0.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.13 and a current ratio of 1.85. The firm has a 50 day moving average price of $359.83 and a two-hundred day moving average price of $374.48. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $406.19.

Stryker (NYSE:SYK) last released its quarterly earnings data on Friday, October 31st. The medical technology company reported $3.19 EPS for the quarter, beating the consensus estimate of $3.13 by $0.06. The firm had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $6.04 billion. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.87 earnings per share. Equities analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be issued a $0.88 dividend. This is a boost from Stryker’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.0%. Stryker’s payout ratio is presently 46.25%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 276,173 shares of the company’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the sale, the director directly owned 2,702,108 shares of the company’s stock, valued at $954,600,714.24. This represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Preston Wendell Wells sold 165 shares of Stryker stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $365.88, for a total transaction of $60,370.20. Following the completion of the transaction, the chief financial officer owned 6,694 shares of the company’s stock, valued at $2,449,200.72. The trade was a 2.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 522,118 shares of company stock valued at $185,381,932. 5.20% of the stock is owned by insiders.

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.