Old Port Advisors Buys 77 Shares of Stryker Co. (NYSE:SYK)

Old Port Advisors raised its position in shares of Stryker Co. (NYSE:SYK) by 9.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 897 shares of the medical technology company’s stock after acquiring an additional 77 shares during the period. Old Port Advisors’ holdings in Stryker were worth $321,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SYK. TruNorth Capital Management LLC purchased a new position in shares of Stryker during the first quarter valued at $7,528,000. Jackson Wealth Management LLC bought a new stake in shares of Stryker in the 1st quarter valued at about $215,000. American Trust raised its holdings in shares of Stryker by 9.0% in the 1st quarter. American Trust now owns 15,132 shares of the medical technology company’s stock valued at $5,415,000 after purchasing an additional 1,246 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Stryker by 67.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,273 shares of the medical technology company’s stock worth $429,000 after purchasing an additional 513 shares during the period. Finally, Clear Rock Advisors LLC boosted its stake in shares of Stryker by 1.8% during the first quarter. Clear Rock Advisors LLC now owns 10,286 shares of the medical technology company’s stock valued at $3,681,000 after purchasing an additional 184 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

Shares of NYSE:SYK traded down $1.61 during trading on Friday, reaching $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. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41. The stock has a market cap of $126.35 billion, a PE ratio of 37.85, a PEG ratio of 2.56 and a beta of 0.89. The business has a fifty day moving average price of $338.87 and a 200-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 earnings per share (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 analyst estimates of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.54 earnings per share. On average, equities analysts forecast that Stryker Co. will post 11.99 earnings per share for the current fiscal year.

Stryker Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on SYK shares. Roth Mkm increased their target price on Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Evercore ISI reduced their target price 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. Morgan Stanley boosted their price objective on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Piper Sandler lifted their price target on shares of Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Finally, UBS Group raised their price objective on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $373.11.

Insider Activity

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.90% of the company’s stock.

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.