Cyrus J. Lawrence LLC Raises Stake in Stryker Co. (NYSE:SYK)

Cyrus J. Lawrence LLC grew its holdings in shares of Stryker Co. (NYSE:SYK) by 0.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,637 shares of the medical technology company’s stock after acquiring an additional 105 shares during the quarter. Stryker accounts for approximately 1.6% of Cyrus J. Lawrence LLC’s holdings, making the stock its 28th biggest holding. Cyrus J. Lawrence LLC’s holdings in Stryker were worth $8,042,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SYK. Burkett Financial Services LLC purchased a new stake in Stryker during the fourth quarter valued at about $25,000. DSM Capital Partners LLC bought a new stake in shares of Stryker in the 4th quarter valued at about $34,000. Central Pacific Bank Trust Division purchased a new stake in Stryker during the 1st quarter valued at about $39,000. Accent Capital Management LLC bought a new position in Stryker during the 4th quarter worth approximately $60,000. Finally, Sachetta LLC increased its stake in Stryker by 16.3% in the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after purchasing an additional 34 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SYK shares. Evercore ISI dropped their price objective on Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Truist Financial dropped their price target on shares of Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Needham & Company LLC boosted their price objective on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. BTIG Research lifted their price objective on Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Finally, Wolfe Research began coverage on shares of Stryker in a report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price target on the stock. 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.com, Stryker currently has a consensus rating of “Moderate Buy” and an average target price of $378.58.

Stryker Trading Down 0.1 %

Stryker stock opened at $364.81 on Monday. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The company has a market capitalization 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 Co. has a 12 month low of $249.98 and a 12 month high of $374.63. The business’s fifty day simple moving average is $345.12 and its two-hundred day simple moving average is $342.81.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping 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 return on equity of 22.89% and a net margin of 16.12%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.54 EPS. As a group, equities analysts predict that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Dividend Announcement

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 paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio is currently 36.53%.

Insider Transactions at Stryker

In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 2,852 shares in the company, valued at $949,716. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the 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 transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. The disclosure for this sale can be found here. Insiders sold 220,068 shares of company stock worth $71,811,372 over the last three months. 5.90% of the stock is currently owned by company insiders.

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.