4,098 Shares in Stryker Co. (NYSE:SYK) Bought by Alaethes Wealth LLC

Alaethes Wealth LLC bought a new stake in Stryker Co. (NYSE:SYK) during the 2nd quarter, Holdings Channel.com reports. The fund bought 4,098 shares of the medical technology company’s stock, valued at approximately $1,398,000.

Other large investors have also added to or reduced their stakes in the company. Transatlantique Private Wealth LLC boosted its holdings in shares of Stryker by 4.6% in the 2nd quarter. Transatlantique Private Wealth LLC now owns 902 shares of the medical technology company’s stock valued at $307,000 after buying an additional 40 shares in the last quarter. Summit Trail Advisors LLC lifted its position in Stryker by 3.0% during the second quarter. Summit Trail Advisors LLC now owns 5,053 shares of the medical technology company’s stock valued at $1,723,000 after acquiring an additional 148 shares during the last quarter. Chesapeake Wealth Management acquired a new stake in Stryker in the second quarter valued at approximately $291,000. Thrivent Financial for Lutherans grew its holdings in Stryker by 69.7% in the second quarter. Thrivent Financial for Lutherans now owns 87,244 shares of the medical technology company’s stock worth $29,685,000 after purchasing an additional 35,833 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of Stryker by 4.0% during the second quarter. Sei Investments Co. now owns 168,336 shares of the medical technology company’s stock worth $57,271,000 after purchasing an additional 6,443 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP M Kathryn Fink sold 7,347 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,685,213.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the transaction, the vice president now owns 10,042 shares in the company, valued at $3,685,213.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction that occurred 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 owns 9,069 shares of the company’s stock, valued at $3,219,495. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 220,068 shares of company stock worth $71,811,372. Company insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

SYK has been the subject of a number of recent analyst reports. Piper Sandler reissued an “overweight” rating and issued a $380.00 price objective on shares of Stryker in a research report on Tuesday, September 10th. Truist Financial dropped their price target on Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. The Goldman Sachs Group initiated coverage on shares of Stryker in a research report on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price objective for the company. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research report on Monday, September 16th. Finally, Evercore ISI decreased their price target on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $378.58.

Stryker Stock Performance

Shares of SYK stock opened at $364.81 on Friday. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $374.63. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. The stock has a market cap of $139.02 billion, a PE ratio of 41.64, a price-to-earnings-growth ratio of 2.87 and a beta of 0.91. The business has a 50-day simple moving average of $345.12 and a 200-day simple moving average of $342.96.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter last year, the business earned $2.54 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. On average, equities analysts expect that Stryker Co. will post 12 EPS for the current 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 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s payout ratio is presently 36.53%.

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.