Archer Investment Corp Boosts Stake in Stryker Co. (NYSE:SYK)

Archer Investment Corp increased its stake in shares of Stryker Co. (NYSE:SYK) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,078 shares of the medical technology company’s stock after buying an additional 50 shares during the quarter. Archer Investment Corp’s holdings in Stryker were worth $707,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in SYK. Founders Financial Securities LLC boosted its holdings in shares of Stryker by 3.2% in the 2nd quarter. Founders Financial Securities LLC now owns 3,413 shares of the medical technology company’s stock valued at $1,161,000 after acquiring an additional 106 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Stryker by 0.7% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 29,141 shares of the medical technology company’s stock valued at $9,915,000 after buying an additional 200 shares during the last quarter. Octavia Wealth Advisors LLC lifted its holdings in shares of Stryker by 59.7% in the 2nd quarter. Octavia Wealth Advisors LLC now owns 1,450 shares of the medical technology company’s stock valued at $495,000 after buying an additional 542 shares during the period. Northstar Advisory Group LLC boosted its stake in shares of Stryker by 12.0% in the second quarter. Northstar Advisory Group LLC now owns 6,647 shares of the medical technology company’s stock worth $2,262,000 after buying an additional 713 shares during the last quarter. Finally, Privium Fund Management UK Ltd acquired a new stake in Stryker during the second quarter worth about $1,201,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SYK shares. The Goldman Sachs Group initiated coverage on shares of Stryker in a research note on Thursday, May 30th. They set a “neutral” rating and a $372.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $386.00 price objective on shares of Stryker in a report on Wednesday, July 31st. Stifel Nicolaus dropped their target price on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Truist Financial lowered their price target on Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Finally, Needham & Company LLC boosted their price objective on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $373.84.

Stryker Price Performance

Shares of SYK opened at $359.55 on Wednesday. The firm has a fifty day moving average price of $337.95 and a 200 day moving average price of $341.67. The stock has a market cap of $136.97 billion, a PE ratio of 41.04, a price-to-earnings-growth ratio of 2.78 and a beta of 0.89. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $362.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95.

Stryker (NYSE:SYK) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the previous year, the business earned $2.54 EPS. The business’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Stryker Co. will post 12 EPS for the current 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 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 yield of 0.89%. Stryker’s payout ratio is 36.53%.

Insider Transactions at Stryker

In other news, insider Viju Menon sold 600 shares of Stryker stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the sale, the chief financial officer now owns 2,852 shares in the company, valued at $949,716. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the sale, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. The disclosure for this sale can be found here. Insiders sold 210,600 shares of company stock worth $68,330,400 over the last 90 days. 5.90% of the stock is currently owned by insiders.

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.