Stryker Co. (NYSE:SYK) Shares Purchased by Alley Investment Management Company LLC

Alley Investment Management Company LLC grew its holdings in shares of Stryker Co. (NYSE:SYK) by 0.5% in the 2nd quarter, Holdings Channel reports. The fund owned 34,100 shares of the medical technology company’s stock after acquiring an additional 154 shares during the period. Stryker accounts for about 1.6% of Alley Investment Management Company LLC’s investment portfolio, making the stock its 28th biggest position. Alley Investment Management Company LLC’s holdings in Stryker were worth $11,603,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SYK. Koshinski Asset Management Inc. purchased a new stake in Stryker during the 1st quarter worth approximately $795,000. Envestnet Portfolio Solutions Inc. grew its position in shares of Stryker by 43.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock worth $6,617,000 after buying an additional 5,565 shares in the last quarter. Norden Group LLC acquired a new stake in shares of Stryker during the first quarter worth approximately $4,027,000. International Assets Investment Management LLC bought a new stake in shares of Stryker in the first quarter worth $21,970,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its holdings in Stryker by 38.5% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock valued at $7,084,000 after acquiring an additional 5,502 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Price Performance

Shares of NYSE:SYK opened at $361.00 on Wednesday. The firm’s 50 day moving average is $346.43 and its two-hundred day moving average is $342.89. The firm has a market capitalization of $137.57 billion, a P/E ratio of 41.21, a PEG ratio of 2.83 and a beta of 0.91. The company has a current ratio of 1.68, a quick ratio of 0.95 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 $374.63.

Stryker (NYSE:SYK) last posted its 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 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 analysts’ expectations of $5.40 billion. During the same period last year, the firm earned $2.54 EPS. The firm’s revenue was up 8.5% compared to the same quarter last year. Analysts anticipate that Stryker Co. will post 12 earnings per share for the current year.

Stryker Announces Dividend

The business also recently disclosed 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 0.89%. The ex-dividend date is Monday, September 30th. Stryker’s payout ratio is currently 36.53%.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,685,213.16. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the sale, the director now directly owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The disclosure for this sale can be found here. Insiders sold 220,068 shares of company stock worth $71,811,372 in the last 90 days. Corporate insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SYK shares. Wolfe Research assumed coverage on shares of Stryker in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and set a $386.00 price objective on shares of Stryker in a research note on Wednesday, July 31st. BTIG Research increased their target price on Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Needham & Company LLC boosted their price target on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Truist Financial reduced their price objective on Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $378.58.

Stryker 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.