3,575 Shares in Stryker Co. (NYSE:SYK) Purchased by Heritage Wealth Management Inc.

Heritage Wealth Management Inc. bought a new stake in shares of Stryker Co. (NYSE:SYK) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,575 shares of the medical technology company’s stock, valued at approximately $1,206,000.

Several other institutional investors also recently bought and sold shares of SYK. Sanctuary Advisors LLC acquired a new position in shares of Stryker in the second quarter valued at approximately $19,301,000. Clear Rock Advisors LLC lifted its holdings in Stryker by 1.4% during the 2nd quarter. Clear Rock Advisors LLC now owns 10,426 shares of the medical technology company’s stock worth $3,547,000 after buying an additional 140 shares in the last quarter. Centennial Bank AR boosted its position in Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after buying an additional 48 shares during the period. Sycomore Asset Management grew its stake in shares of Stryker by 149.9% in the second quarter. Sycomore Asset Management now owns 42,659 shares of the medical technology company’s stock worth $14,526,000 after acquiring an additional 25,589 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of Stryker by 2.9% during the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock worth $790,554,000 after acquiring an additional 66,482 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Price Performance

Shares of SYK opened at $357.36 on Wednesday. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $374.63. The stock has a market cap of $136.14 billion, a PE ratio of 40.79, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The firm has a fifty day moving average price of $348.60 and a 200 day moving average price of $343.04.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share 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 firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the previous year, the company earned $2.54 earnings per share. Stryker’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Stryker Co. will post 12 EPS for the current year.

Stryker Announces Dividend

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 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 yield of 0.90%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Analyst Upgrades and Downgrades

SYK has been the subject of several analyst reports. Truist Financial lowered their target price on Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Wolfe Research initiated coverage on Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective for the company. Needham & Company LLC raised their target price on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Morgan Stanley boosted their price target on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Finally, UBS Group raised their price objective on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $379.37.

Insider Activity at Stryker

In other Stryker news, 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 transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at $949,716. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Stryker news, 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 transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at $949,716. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of Stryker 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 disclosure for this sale can be found here. Insiders sold a total of 220,068 shares of company stock valued at $71,811,372 over the last ninety days. Insiders own 5.90% of the company’s stock.

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.