Stryker Co. (NYSE:SYK) Shares Acquired by Addenda Capital Inc.

Addenda Capital Inc. increased its position in Stryker Co. (NYSE:SYK) by 11.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,699 shares of the medical technology company’s stock after buying an additional 1,950 shares during the quarter. Addenda Capital Inc.’s holdings in Stryker were worth $6,375,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SYK. Perigon Wealth Management LLC lifted its holdings in shares of Stryker by 4.5% in the fourth quarter. Perigon Wealth Management LLC now owns 3,117 shares of the medical technology company’s stock valued at $934,000 after buying an additional 135 shares during the period. Tennessee Valley Asset Management Partners acquired a new stake in shares of Stryker in the fourth quarter valued at $61,000. Consolidated Portfolio Review Corp lifted its holdings in shares of Stryker by 3.6% in the fourth quarter. Consolidated Portfolio Review Corp now owns 983 shares of the medical technology company’s stock valued at $294,000 after buying an additional 34 shares during the period. Louisiana State Employees Retirement System purchased a new stake in shares of Stryker during the fourth quarter valued at $6,109,000. Finally, Vontobel Holding Ltd. lifted its holdings in shares of Stryker by 4.7% during the fourth quarter. Vontobel Holding Ltd. now owns 63,077 shares of the medical technology company’s stock valued at $18,889,000 after purchasing an additional 2,847 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Activity

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the 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 transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at approximately $949,716. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the 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 transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at approximately $949,716. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the sale, the director now owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SYK shares. UBS Group upped their target price on Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company upped their target price on Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Stifel Nicolaus reduced their target price on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. BTIG Research reduced their target price on Stryker from $372.00 to $360.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Piper Sandler upped their target price on Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $373.11.

Stryker Stock Up 1.1 %

SYK stock traded up $3.53 during mid-day trading on Wednesday, hitting $332.52. The stock had a trading volume of 909,801 shares, compared to its average volume of 1,322,567. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41. The company has a fifty day moving average of $336.62 and a 200 day moving average of $340.53. The stock has a market capitalization of $126.72 billion, a price-to-earnings ratio of 37.56, a PEG ratio of 2.53 and a beta of 0.89.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share 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 company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the firm posted $2.54 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. On average, equities analysts expect that Stryker Co. will post 11.99 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio is 36.53%.

About Stryker

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.