L & S Advisors Inc Grows Position in Stryker Co. (NYSE:SYK)

L & S Advisors Inc boosted its stake in shares of Stryker Co. (NYSE:SYK) by 1.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,552 shares of the medical technology company’s stock after acquiring an additional 137 shares during the period. L & S Advisors Inc’s holdings in Stryker were worth $2,570,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Burkett Financial Services LLC purchased a new stake in shares of Stryker in the fourth quarter worth about $25,000. Central Pacific Bank Trust Division purchased a new stake in shares of Stryker during the 1st quarter worth approximately $39,000. DSM Capital Partners LLC bought a new position in shares of Stryker during the 4th quarter valued at approximately $34,000. Accent Capital Management LLC purchased a new position in shares of Stryker in the fourth quarter valued at $60,000. Finally, Sachetta LLC bought a new stake in Stryker in the fourth quarter worth $62,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of SYK stock opened at $371.97 on Tuesday. The business has a fifty day moving average of $343.03 and a 200 day moving average of $342.53. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $374.63. 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 firm has a market capitalization of $141.70 billion, a price-to-earnings ratio of 42.46, a price-to-earnings-growth ratio of 2.84 and a beta of 0.91.

Stryker (NYSE:SYK) last issued 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. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the prior year, the firm earned $2.54 earnings per share. Stryker’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, research analysts expect that Stryker Co. will post 12 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently announced 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 is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.86%. Stryker’s dividend payout ratio is presently 36.53%.

Insider Buying and Selling at Stryker

In other Stryker news, insider Viju Menon sold 600 shares of Stryker 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 completion of the transaction, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Viju Menon sold 600 shares of Stryker stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction 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 approximately $3,219,495. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction 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 $1,072,790,023.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 210,600 shares of company stock valued at $68,330,400. 5.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have commented on SYK. Truist Financial lowered their price objective 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. Morgan Stanley lifted their price target on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Royal Bank of Canada restated an “outperform” rating and set a $386.00 price objective on shares of Stryker in a research report on Wednesday, July 31st. Needham & Company LLC lifted their price objective on shares of Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, UBS Group increased their price objective on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $378.58.

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.