Graypoint LLC Acquires 156 Shares of Stryker Co. (NYSE:SYK)

Graypoint LLC lifted its holdings in shares of Stryker Co. (NYSE:SYK) by 4.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,503 shares of the medical technology company’s stock after acquiring an additional 156 shares during the quarter. Graypoint LLC’s holdings in Stryker were worth $1,192,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Precision Wealth Strategies LLC lifted its holdings in shares of Stryker by 2.1% during the fourth quarter. Precision Wealth Strategies LLC now owns 3,114 shares of the medical technology company’s stock worth $933,000 after buying an additional 65 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in Stryker by 2.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 169,527 shares of the medical technology company’s stock worth $50,767,000 after purchasing an additional 3,632 shares in the last quarter. M&T Bank Corp grew its position in shares of Stryker by 0.3% during the 4th quarter. M&T Bank Corp now owns 49,597 shares of the medical technology company’s stock worth $14,852,000 after purchasing an additional 168 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its holdings in shares of Stryker by 3.8% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 4,950 shares of the medical technology company’s stock worth $1,482,000 after purchasing an additional 183 shares during the period. Finally, Axxcess Wealth Management LLC raised its position in shares of Stryker by 296.1% in the fourth quarter. Axxcess Wealth Management LLC now owns 4,931 shares of the medical technology company’s stock valued at $1,477,000 after buying an additional 3,686 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Up 0.7 %

SYK traded up $2.49 during midday trading on Friday, hitting $360.42. The company had a trading volume of 1,307,583 shares, compared to its average volume of 1,185,878. The company has a market capitalization of $137.35 billion, a price-to-earnings ratio of 41.14, a PEG ratio of 2.78 and a beta of 0.89. The stock’s 50 day moving average price is $337.13 and its 200 day moving average price is $341.57. 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 Co. has a 52 week low of $249.98 and a 52 week high of $361.41.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 EPS 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 firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the prior year, the business posted $2.54 earnings per share. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, research analysts anticipate that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SYK. UBS Group raised their target price on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Truist Financial cut their target price on shares of Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Needham & Company LLC raised their price target on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. BTIG Research boosted their price objective on shares of Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $386.00 target price on shares of Stryker in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average price target of $373.84.

Insider Activity

In other Stryker news, insider Viju Menon sold 600 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction dated 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. Insiders sold 210,600 shares of company stock valued at $68,330,400 in the last three months. Company insiders own 5.90% of the company’s stock.

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.