Fulton Breakefield Broenniman LLC Acquires 32,286 Shares of Stryker Co. (NYSE:SYK)

Fulton Breakefield Broenniman LLC increased its holdings in Stryker Co. (NYSE:SYK) by 997.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,523 shares of the medical technology company’s stock after acquiring an additional 32,286 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in Stryker were worth $12,833,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Centennial Bank AR boosted its stake in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in Stryker during the 1st quarter valued at approximately $39,000. HBW Advisory Services LLC purchased a new position in shares of Stryker during the 3rd quarter worth approximately $42,000. Grove Bank & Trust raised its position in shares of Stryker by 84.8% in the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after acquiring an additional 56 shares in the last quarter. Finally, Sachetta LLC lifted its stake in shares of Stryker by 16.3% in the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock valued at $80,000 after purchasing an additional 34 shares during the period. Institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In other news, insider Viju Menon sold 600 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now owns 9,069 shares in the company, valued at $3,219,495. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Stryker news, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the transaction, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 220,068 shares of company stock worth $71,811,372 in the last three months. 5.90% of the stock is currently owned by company insiders.

Stryker Stock Performance

Shares of NYSE SYK opened at $361.38 on Thursday. The firm’s 50-day moving average price is $354.28 and its 200-day moving average price is $343.09. Stryker Co. has a 52-week low of $255.22 and a 52-week high of $374.63. The company has a market cap of $137.67 billion, a PE ratio of 41.25, a PEG ratio of 2.78 and a beta of 0.91. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.54 EPS. As a group, analysts anticipate that Stryker Co. will post 12 EPS for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.89%. Stryker’s payout ratio is 36.53%.

Wall Street Analysts Forecast Growth

SYK has been the topic of several recent research reports. Stifel Nicolaus reduced their price target on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Evercore ISI upped their target price on shares of Stryker from $365.00 to $380.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Royal Bank of Canada reissued an “outperform” rating and set a $386.00 price target on shares of Stryker in a research report on Wednesday, July 31st. Barclays upped their price objective on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, Piper Sandler reiterated an “overweight” rating and set a $380.00 target price on shares of Stryker in a report on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Stryker has an average rating of “Moderate Buy” and an average price target of $381.16.

Stryker Profile

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.