Bright Financial Advisors Inc. Purchases Shares of 17,079 Stryker Co. (NYSE:SYK)

Bright Financial Advisors Inc. acquired a new position in Stryker Co. (NYSE:SYK) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 17,079 shares of the medical technology company’s stock, valued at approximately $5,811,000. Stryker accounts for 4.1% of Bright Financial Advisors Inc.’s holdings, making the stock its 7th biggest position.

A number of other large investors have also recently made changes to their positions in SYK. Lokken Investment Group LLC boosted its stake in shares of Stryker by 11.5% during the 2nd quarter. Lokken Investment Group LLC now owns 3,441 shares of the medical technology company’s stock valued at $1,171,000 after purchasing an additional 356 shares in the last quarter. CCLA Investment Management raised its stake in Stryker by 1.1% in the second quarter. CCLA Investment Management now owns 299,901 shares of the medical technology company’s stock worth $102,048,000 after buying an additional 3,331 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Stryker by 11.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 35,086 shares of the medical technology company’s stock worth $11,938,000 after buying an additional 3,732 shares during the period. Tredje AP fonden boosted its position in Stryker by 23.8% during the 2nd quarter. Tredje AP fonden now owns 108,662 shares of the medical technology company’s stock valued at $36,972,000 after acquiring an additional 20,857 shares in the last quarter. Finally, Argent Trust Co grew its holdings in shares of Stryker by 11.7% during the 2nd quarter. Argent Trust Co now owns 6,918 shares of the medical technology company’s stock worth $2,354,000 after acquiring an additional 722 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Stryker

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 transaction of $2,696,202.06. Following the completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,685,213.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the transaction, the chief financial officer now owns 2,852 shares in the company, valued at $949,716. The disclosure for this sale can be found here. In the last ninety days, insiders sold 220,068 shares of company stock worth $71,811,372. Insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SYK. Evercore ISI lowered their target price on Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Stifel Nicolaus dropped their target price on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. BTIG Research increased their price target 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. Needham & Company LLC boosted 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, Truist Financial cut their price objective on shares of Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.58.

Stryker Trading Down 0.7 %

Shares of NYSE:SYK opened at $361.29 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $374.63. The company has a market cap of $137.68 billion, a P/E ratio of 41.24, a PEG ratio of 2.87 and a beta of 0.91. The stock’s fifty day moving average price is $344.08 and its 200-day moving average price is $342.74.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (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 business had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the prior year, the business earned $2.54 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. Sell-side analysts expect that Stryker Co. will post 12 earnings per share for the current year.

Stryker Announces Dividend

The business also recently announced 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. This represents a $3.20 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

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.