AAFMAA Wealth Management & Trust LLC Buys 932 Shares of Stryker Co. (NYSE:SYK)

AAFMAA Wealth Management & Trust LLC boosted its stake in shares of Stryker Co. (NYSE:SYK) by 16.5% during the second quarter, Holdings Channel.com reports. The firm owned 6,573 shares of the medical technology company’s stock after purchasing an additional 932 shares during the quarter. Stryker makes up about 1.1% of AAFMAA Wealth Management & Trust LLC’s investment portfolio, making the stock its 26th biggest position. AAFMAA Wealth Management & Trust LLC’s holdings in Stryker were worth $2,236,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Stryker by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock worth $11,258,373,000 after acquiring an additional 309,592 shares in the last quarter. Greenleaf Trust lifted its holdings in shares of Stryker by 0.6% during the 1st quarter. Greenleaf Trust now owns 18,596,387 shares of the medical technology company’s stock valued at $6,655,089,000 after purchasing an additional 108,080 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Stryker by 5.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock worth $3,755,782,000 after purchasing an additional 642,178 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Stryker by 10.4% during the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after buying an additional 813,311 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in Stryker by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 4,686,440 shares of the medical technology company’s stock valued at $1,403,401,000 after buying an additional 29,209 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on SYK. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $386.00 price objective on shares of Stryker in a research report on Wednesday, July 31st. UBS Group raised their price target on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. The Goldman Sachs Group initiated coverage on shares of Stryker in a report on Thursday, May 30th. They set a “neutral” rating and a $372.00 price objective on the stock. Evercore ISI reduced their target price on Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Finally, Truist Financial cut their price objective on Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and an average target price of $373.11.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction dated 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 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 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 dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the sale, the director now directly owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

Stryker Trading Up 0.9 %

NYSE:SYK traded up $3.17 on Monday, reaching $341.06. The company’s stock had a trading volume of 1,062,124 shares, compared to its average volume of 1,317,478. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $361.41. The stock has a 50 day moving average price of $335.82 and a 200 day moving average price of $340.80. The firm has a market cap of $129.97 billion, a price-to-earnings ratio of 38.93, a price-to-earnings-growth ratio of 2.57 and a beta of 0.89. 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 issued its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.02. The firm had revenue of $5.42 billion for 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%. Stryker’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.54 EPS. On average, equities analysts anticipate 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. Investors of record on Monday, September 30th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.94%. Stryker’s payout ratio is currently 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.