Commonwealth Equity Services LLC Buys 441 Shares of Stryker Co. (NYSE:SYK)

Commonwealth Equity Services LLC raised its stake in Stryker Co. (NYSE:SYK) by 0.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 180,551 shares of the medical technology company’s stock after acquiring an additional 441 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Stryker were worth $61,433,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Stryker in the fourth quarter worth about $1,561,000. Patton Albertson Miller Group LLC increased its stake in shares of 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 valued at $5,338,000 after buying an additional 3,415 shares during the period. Koshinski Asset Management Inc. acquired a new position in shares of Stryker in the first quarter valued at approximately $795,000. Envestnet Portfolio Solutions Inc. increased its stake in shares of Stryker by 43.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock valued at $6,617,000 after buying an additional 5,565 shares during the period. Finally, Norden Group LLC acquired a new position in shares of Stryker in the first quarter valued at approximately $4,027,000. Institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In other 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 transaction 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 legal filing with the SEC, which is available at the SEC website. In other 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 transaction 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 legal filing with the SEC, which is available at the SEC website. Also, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction 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 directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 210,600 shares of company stock worth $68,330,400. Corporate insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SYK. Evercore ISI lowered their price objective on Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. UBS Group upped their price objective on Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. BTIG Research upped their price objective on Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays increased their target price on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Truist Financial decreased their target price on shares of Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Four 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, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $373.84.

Stryker Trading Up 0.7 %

Shares of Stryker stock traded up $2.49 on Friday, reaching $360.42. 1,307,583 shares of the company’s stock were exchanged, compared to its average volume of 1,303,354. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. The firm’s 50-day moving average is $337.13 and its two-hundred day moving average is $341.56. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $361.41. The company has a market capitalization of $137.30 billion, a P/E ratio of 41.14, a price-to-earnings-growth ratio of 2.74 and a beta of 0.89.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating 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 business had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same period last year, the business earned $2.54 EPS. The business’s revenue was up 8.5% on a year-over-year basis. Sell-side analysts predict that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Stryker Company 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.