Stryker Co. (NYSE:SYK) Shares Purchased by American Trust

American Trust increased its stake in shares of Stryker Co. (NYSE:SYK) by 9.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,132 shares of the medical technology company’s stock after buying an additional 1,246 shares during the quarter. American Trust’s holdings in Stryker were worth $5,415,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Carnegie Capital Asset Management LLC lifted its position in Stryker by 0.5% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 96,241 shares of the medical technology company’s stock worth $28,820,000 after buying an additional 497 shares in the last quarter. Atlantic Edge Private Wealth Management LLC purchased a new position in Stryker during the fourth quarter worth approximately $1,561,000. Consolidated Planning Corp purchased a new stake in Stryker in the fourth quarter valued at $205,000. Meritage Portfolio Management purchased a new stake in Stryker in the fourth quarter valued at $569,000. Finally, Patton Albertson Miller Group LLC raised its position in Stryker by 23.7% in the fourth quarter. Patton Albertson Miller Group LLC now owns 17,825 shares of the medical technology company’s stock valued at $5,338,000 after purchasing an additional 3,415 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SYK shares. UBS Group lifted their target price on Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research report on Wednesday. Morgan Stanley lifted their target price on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Wells Fargo & Company lifted their target price on Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Piper Sandler lifted their target price on Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Finally, Stifel Nicolaus reduced their target price on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and an average target price of $373.11.

Insider Transactions at Stryker

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 5.90% of the company’s stock.

Stryker Stock Down 0.5 %

SYK traded down $1.61 on Friday, hitting $331.56. 1,738,648 shares of the company were exchanged, compared to its average volume of 1,432,445. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41. The company has a market cap of $126.35 billion, a price-to-earnings ratio of 37.85, a price-to-earnings-growth ratio of 2.57 and a beta of 0.89. The company has a current ratio of 1.68, a quick ratio of 0.99 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $338.87 and a two-hundred day moving average price of $339.79.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping the consensus estimate of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the previous year, the firm posted $2.54 EPS. Stryker’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, equities analysts predict that Stryker Co. will post 11.99 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $3.20 annualized dividend and a dividend yield of 0.97%. Stryker’s dividend payout ratio is currently 36.53%.

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.