Edgestream Partners L.P. Takes $369,000 Position in Stryker Co. (NYSE:SYK)

Edgestream Partners L.P. purchased a new position in Stryker Co. (NYSE:SYK) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,085 shares of the medical technology company’s stock, valued at approximately $369,000.

Other institutional investors also recently bought and sold shares of the company. Koshinski Asset Management Inc. purchased a new stake in shares of Stryker during the first quarter valued at approximately $795,000. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Stryker by 43.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock worth $6,617,000 after purchasing an additional 5,565 shares in the last quarter. Norden Group LLC purchased a new position in shares of Stryker in the first quarter worth $4,027,000. International Assets Investment Management LLC bought a new position in shares of Stryker during the first quarter valued at $21,970,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Stryker by 38.5% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock valued at $7,084,000 after buying an additional 5,502 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Performance

NYSE SYK opened at $364.81 on Monday. 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 Co. has a twelve month low of $249.98 and a twelve month high of $374.63. The business has a 50-day moving average price of $345.12 and a 200-day moving average price of $342.81. The firm has a market cap of $138.97 billion, a price-to-earnings ratio of 41.64, a price-to-earnings-growth ratio of 2.87 and a beta of 0.91.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) 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 business had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the firm posted $2.54 EPS. The company’s revenue was up 8.5% on a year-over-year basis. As a group, equities research analysts predict that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.88%. The ex-dividend date is Monday, September 30th. Stryker’s payout ratio is currently 36.53%.

Wall Street Analyst Weigh In

Several research firms have issued reports on SYK. Wolfe Research initiated coverage on shares of Stryker in a research note on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price on the stock. Truist Financial dropped their target price 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. BTIG Research boosted their target price on shares of Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research note on Monday, September 16th. Finally, UBS Group upped their price objective on Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $378.58.

Insider Buying and Selling at Stryker

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $3,685,213.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were 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 directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. The disclosure for this sale can be found here. Insiders sold 220,068 shares of company stock valued at $71,811,372 in the last 90 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.