Cohen Klingenstein LLC Invests $265,000 in Stryker Co. (SYK)

Cohen Klingenstein LLC bought a new position in shares of Stryker Co. (NYSE:SYK) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 1,342 shares of the medical technology company’s stock, valued at approximately $265,000.

Several other large investors have also recently modified their holdings of the company. ERTS Wealth Advisors LLC purchased a new position in Stryker in the 4th quarter worth approximately $25,000. Northwest Wealth Management LLC boosted its holdings in Stryker by 103.6% in the 4th quarter. Northwest Wealth Management LLC now owns 169 shares of the medical technology company’s stock worth $26,000 after acquiring an additional 86 shares during the period. Semmax Financial Advisors Inc. purchased a new position in Stryker in the 4th quarter worth approximately $28,000. Horan Securities Inc. purchased a new position in Stryker in the 4th quarter worth approximately $30,000. Finally, Truehand Inc purchased a new position in Stryker in the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 74.61% of the company’s stock.

SYK stock opened at $189.04 on Wednesday. The company has a current ratio of 2.02, a quick ratio of 1.41 and a debt-to-equity ratio of 0.72. The company has a market cap of $72.17 billion, a P/E ratio of 25.86, a PEG ratio of 2.38 and a beta of 0.88. Stryker Co. has a 12-month low of $144.75 and a 12-month high of $199.85.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 29th. The medical technology company reported $2.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.15 by $0.03. The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.73 billion. Stryker had a return on equity of 27.60% and a net margin of 26.12%. Sell-side analysts expect that Stryker Co. will post 8.13 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Thursday, March 28th. Stryker’s dividend payout ratio is currently 28.45%.

A number of research firms have weighed in on SYK. Wells Fargo & Co upped their price target on Stryker from $214.00 to $219.00 and gave the stock an “outperform” rating in a report on Monday, April 1st. Zacks Investment Research lowered Stryker from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. BTIG Research upped their target price on Stryker to $211.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Barclays upped their target price on Stryker from $203.00 to $211.00 and gave the company an “overweight” rating in a research report on Monday. Finally, JPMorgan Chase & Co. upped 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. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $192.13.

In related news, VP Katherine Ann Owen sold 29,247 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $185.62, for a total transaction of $5,428,828.14. Following the sale, the vice president now directly owns 11,131 shares of the company’s stock, valued at approximately $2,066,136.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Yin C. Becker sold 15,240 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $198.03, for a total value of $3,017,977.20. Following the sale, the vice president now directly owns 16,577 shares in the company, valued at $3,282,743.31. The disclosure for this sale can be found here. Over the last three months, insiders have sold 125,789 shares of company stock worth $23,825,554. Corporate insiders own 7.20% of the company’s stock.

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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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