Kimelman & Baird LLC Acquires Shares of 500 Stryker Co. (NYSE:SYK)

Kimelman & Baird LLC acquired a new stake in Stryker Co. (NYSE:SYK) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 500 shares of the medical technology company’s stock, valued at approximately $170,000.

A number of other large investors have also recently modified their holdings of SYK. Jones Financial Companies Lllp boosted its stake in shares of Stryker by 2.4% during the 4th quarter. Jones Financial Companies Lllp now owns 2,226 shares of the medical technology company’s stock valued at $667,000 after purchasing an additional 53 shares in the last quarter. CWA Asset Management Group LLC boosted its stake in Stryker by 14.9% during the fourth quarter. CWA Asset Management Group LLC now owns 3,510 shares of the medical technology company’s stock worth $1,051,000 after acquiring an additional 456 shares in the last quarter. NEOS Investment Management LLC boosted its stake in Stryker by 58.1% during the fourth quarter. NEOS Investment Management LLC now owns 4,779 shares of the medical technology company’s stock worth $1,431,000 after acquiring an additional 1,757 shares in the last quarter. Nicholas Company Inc. boosted its stake in Stryker by 8.7% during the fourth quarter. Nicholas Company Inc. now owns 164,620 shares of the medical technology company’s stock worth $49,297,000 after acquiring an additional 13,205 shares in the last quarter. Finally, Belpointe Asset Management LLC boosted its stake in Stryker by 8.8% during the fourth quarter. Belpointe Asset Management LLC now owns 1,292 shares of the medical technology company’s stock worth $387,000 after acquiring an additional 105 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Up 0.5 %

Shares of SYK stock opened at $361.26 on Tuesday. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $374.63. The stock has a market cap of $137.62 billion, a P/E ratio of 41.24, a P/E/G ratio of 2.78 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. The company has a 50 day simple moving average of $348.29 and a two-hundred day simple moving average of $343.00.

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

Stryker Announces Dividend

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

Insiders Place Their Bets

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the transaction, the vice president now directly 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 the SEC website. In related news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction on 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 transaction, the vice president now owns 10,042 shares in the company, valued at $3,685,213.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following 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 a total of 220,068 shares of company stock worth $71,811,372 over the last three months. 5.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SYK. StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a research note on Monday, September 16th. Wolfe Research began coverage on shares of Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price on the stock. Evercore ISI dropped their target price on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Truist Financial dropped their target price on shares of Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Finally, BTIG Research upped their target price on shares of Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $378.58.

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.