Stryker Co. (NYSE:SYK) Stock Position Raised by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC lifted its holdings in shares of Stryker Co. (NYSE:SYK) by 18.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,625 shares of the medical technology company’s stock after buying an additional 1,485 shares during the period. Transcend Capital Advisors LLC’s holdings in Stryker were worth $3,275,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SYK. Assenagon Asset Management S.A. grew its position in Stryker by 1.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 8,820 shares of the medical technology company’s stock worth $2,641,000 after purchasing an additional 103 shares during the last quarter. DAVENPORT & Co LLC grew its position in Stryker by 3.3% in the 4th quarter. DAVENPORT & Co LLC now owns 13,645 shares of the medical technology company’s stock worth $4,086,000 after purchasing an additional 431 shares during the last quarter. UMB Bank n.a. grew its position in Stryker by 1.0% in the 4th quarter. UMB Bank n.a. now owns 7,844 shares of the medical technology company’s stock worth $2,349,000 after purchasing an additional 77 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Stryker by 97.1% in the fourth quarter. Venturi Wealth Management LLC now owns 136 shares of the medical technology company’s stock valued at $41,000 after acquiring an additional 67 shares in the last quarter. Finally, Trust Point Inc. bought a new position in shares of Stryker in the fourth quarter valued at approximately $569,000. Institutional investors own 77.09% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the transaction, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Morgan Stanley increased their price objective on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Evercore ISI decreased their price objective on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. The Goldman Sachs Group began coverage on shares of Stryker in a report on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price objective for the company. Finally, Truist Financial cut their target price on shares of Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a research note on Thursday. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $373.11.

Stryker Trading Down 0.5 %

Shares of NYSE:SYK traded down $1.61 during mid-day trading on Friday, hitting $331.56. The stock had a trading volume of 1,738,648 shares, compared to its average volume of 1,432,445. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.99 and a current ratio of 1.68. The company has a market cap of $126.35 billion, a PE ratio of 37.85, a P/E/G ratio of 2.56 and a beta of 0.89. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $361.41. The company’s 50 day moving average is $338.87 and its 200-day moving average is $339.79.

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

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were given a $0.80 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a yield of 0.97%. Stryker’s payout ratio is 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.