Chesapeake Wealth Management Invests $291,000 in Stryker Co. (NYSE:SYK)

Chesapeake Wealth Management purchased a new stake in shares of Stryker Co. (NYSE:SYK) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 856 shares of the medical technology company’s stock, valued at approximately $291,000.

A number of other institutional investors also recently bought and sold shares of SYK. Burkett Financial Services LLC bought a new position in shares of Stryker in the 4th quarter worth approximately $25,000. DSM Capital Partners LLC purchased a new stake in Stryker in the fourth quarter worth $34,000. Central Pacific Bank Trust Division bought a new position in Stryker in the first quarter worth $39,000. Accent Capital Management LLC bought a new position in Stryker in the fourth quarter worth $60,000. Finally, Sachetta LLC lifted its position in Stryker by 16.3% during the second quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock valued at $80,000 after buying an additional 34 shares during the period. 77.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SYK has been the subject of several research reports. Piper Sandler reiterated an “overweight” rating and issued a $380.00 price target on shares of Stryker in a research note on Tuesday, September 10th. Truist Financial decreased their target price on shares of Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. BTIG Research boosted their price target on Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Needham & Company LLC raised their price objective on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, UBS Group lifted their price objective on Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. 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.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $378.58.

Stryker Stock Down 0.1 %

SYK opened at $364.81 on Friday. The stock has a market capitalization of $139.02 billion, a price-to-earnings ratio of 41.64, a PEG ratio of 2.87 and a beta of 0.91. The firm has a 50 day moving average price of $345.12 and a 200-day moving average price of $342.96. Stryker Co. has a twelve month low of $249.98 and a twelve 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.

Stryker (NYSE:SYK) last announced its 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. The business had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.54 EPS. Equities research analysts forecast that Stryker Co. will post 12 earnings per share for the current year.

Stryker Announces Dividend

The company 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. The ex-dividend date is Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.88%. Stryker’s payout ratio is 36.53%.

Insider Buying and Selling at Stryker

In other news, insider Viju Menon sold 600 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Viju Menon sold 600 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The disclosure for this sale can be found here. Insiders sold a total of 220,068 shares of company stock worth $71,811,372 in the last three months. 5.90% of the stock is currently owned by company insiders.

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.