Cornerstone Wealth Group LLC Acquires 123 Shares of Stryker Co. (NYSE:SYK)

Cornerstone Wealth Group LLC lifted its holdings in Stryker Co. (NYSE:SYK) by 5.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,410 shares of the medical technology company’s stock after buying an additional 123 shares during the period. Cornerstone Wealth Group LLC’s holdings in Stryker were worth $820,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SYK. Atlantic Edge Private Wealth Management LLC bought a new stake in Stryker in the fourth quarter worth $1,561,000. Consolidated Planning Corp bought a new position in Stryker during the 4th quarter valued at about $205,000. Meritage Portfolio Management purchased a new stake in Stryker in the 4th quarter worth about $569,000. Patton Albertson Miller Group LLC lifted its stake 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 worth $5,338,000 after purchasing an additional 3,415 shares during the last quarter. Finally, Koshinski Asset Management Inc. purchased a new position in shares of Stryker during the first quarter valued at approximately $795,000. 77.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Piper Sandler increased their price target on Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Morgan Stanley upped their price target on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Barclays raised their price target on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Roth Mkm boosted their price objective on shares of Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $373.11.

Insiders Place Their Bets

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction dated 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 $949,716. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s 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 sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the transaction, 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. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Up 0.7 %

Shares of SYK stock traded up $2.57 during mid-day trading on Friday, hitting $353.29. 966,116 shares of the stock traded hands, compared to its average volume of 1,456,137. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $361.41. The stock has a market cap of $134.63 billion, a P/E ratio of 40.33, a P/E/G ratio of 2.71 and a beta of 0.89. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The stock’s fifty day moving average is $335.90 and its two-hundred day moving average is $340.98.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. Stryker’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 company posted $2.54 earnings per share. Equities analysts predict that Stryker Co. will post 12 EPS for the current year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 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.