HBW Advisory Services LLC Acquires New Position in Stryker Co. (NYSE:SYK)

HBW Advisory Services LLC bought a new position in Stryker Co. (NYSE:SYK) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 116 shares of the medical technology company’s stock, valued at approximately $42,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Global Assets Advisory LLC acquired a new position in Stryker during the 1st quarter valued at approximately $341,049,000. JPMorgan Chase & Co. boosted its holdings in shares of Stryker by 10.4% during 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 acquiring an additional 813,311 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Stryker by 5.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock worth $3,755,782,000 after acquiring an additional 642,178 shares during the last quarter. 1832 Asset Management L.P. increased 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 purchasing an additional 522,817 shares during the period. Finally, American Century Companies Inc. increased its position in Stryker by 287.6% in the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock valued at $172,033,000 after acquiring an additional 375,166 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Price Performance

SYK opened at $351.22 on Friday. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $374.63. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $133.80 billion, a P/E ratio of 40.09, a PEG ratio of 2.74 and a beta of 0.91. The stock has a fifty day moving average of $349.77 and a 200-day moving average of $343.06.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $5.40 billion. During the same period in the prior year, the firm earned $2.54 earnings per share. The firm’s revenue was up 8.5% compared to the same quarter last year. Equities analysts forecast that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.80 per share. The ex-dividend date is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.91%. Stryker’s dividend payout ratio is 36.53%.

Analysts Set New Price Targets

Several research firms recently weighed in on SYK. Needham & Company LLC upped their price objective on shares of Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Barclays upped their price target on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. UBS Group boosted their target price on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Piper Sandler reaffirmed an “overweight” rating and set a $380.00 price target on shares of Stryker in a research note on Tuesday, September 10th. Finally, Evercore ISI boosted their price objective on Stryker from $365.00 to $380.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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 that occurred 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 completion of the sale, the chief financial officer now directly owns 2,852 shares in the company, valued at $949,716. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 220,068 shares of company stock valued at $71,811,372. 5.90% of the stock is owned by corporate insiders.

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.