Dorsey & Whitney Trust CO LLC Grows Position in Stryker Co. (NYSE:SYK)

Dorsey & Whitney Trust CO LLC increased its stake in Stryker Co. (NYSE:SYK) by 18.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,265 shares of the medical technology company’s stock after buying an additional 677 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Stryker were worth $1,451,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of SYK. Norges Bank acquired a new stake in shares of Stryker in the fourth quarter valued at about $1,260,562,000. Global Assets Advisory LLC acquired a new stake in shares of Stryker in the first quarter valued at about $341,049,000. JPMorgan Chase & Co. grew its stake in shares of Stryker by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after buying an additional 813,311 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Stryker by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after buying an additional 642,178 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its stake in shares of Stryker by 146.9% in the first quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock valued at $314,449,000 after buying an additional 522,817 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Price Performance

Shares of SYK opened at $365.10 on Wednesday. The firm has a market cap of $139.13 billion, a price-to-earnings ratio of 41.68, a PEG ratio of 2.77 and a beta of 0.91. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $365.96. 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 stock has a 50 day moving average of $340.21 and a 200-day moving average of $342.04.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.02. The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the business posted $2.54 EPS. As a group, analysts forecast 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 dividend yield of 0.88%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is 36.53%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SYK shares. The Goldman Sachs Group assumed coverage on Stryker in a research note on Thursday, May 30th. They issued a “neutral” rating and a $372.00 target price for the company. Barclays raised their price objective on Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. Piper Sandler restated an “overweight” rating and set a $380.00 price objective on shares of Stryker in a research note on Tuesday. Finally, Evercore ISI lowered their price objective on Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $378.58.

Insider Buying and Selling

In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the sale, the chief financial officer now owns 2,852 shares of the company’s stock, valued at approximately $949,716. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of Stryker 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 sale, the director now owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction on 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 sale, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 210,600 shares of company stock valued at $68,330,400. Insiders own 5.90% of the company’s stock.

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.