Stryker Co. (NYSE:SYK) Shares Bought by Xponance Inc.

Xponance Inc. lifted its stake in Stryker Co. (NYSE:SYK) by 3.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,472 shares of the medical technology company’s stock after purchasing an additional 1,960 shares during the period. Xponance Inc.’s holdings in Stryker were worth $19,215,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Aspen Investment Management Inc lifted its stake in shares of Stryker by 0.7% in the first quarter. Aspen Investment Management Inc now owns 4,368 shares of the medical technology company’s stock valued at $1,563,000 after purchasing an additional 31 shares during the period. Harbor Investment Advisory LLC raised its position in Stryker by 0.4% during the first quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock worth $2,499,000 after acquiring an additional 31 shares during the last quarter. Proficio Capital Partners LLC raised its position in Stryker by 2.4% during the first quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock worth $507,000 after acquiring an additional 33 shares during the last quarter. Versant Capital Management Inc raised its position in Stryker by 4.0% during the second quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock worth $294,000 after acquiring an additional 33 shares during the last quarter. Finally, Stanley Laman Group Ltd. raised its position in Stryker by 4.6% during the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after acquiring an additional 33 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on SYK. Wolfe Research began coverage on shares of Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price for the company. Piper Sandler restated an “overweight” rating and set a $380.00 target price on shares of Stryker in a research report on Tuesday, September 10th. Evercore ISI lowered their price target on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Needham & Company LLC lifted their price target on shares of Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, UBS Group lifted their price target on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.58.

Stryker Trading Down 0.1 %

SYK opened at $364.81 on Monday. The stock has a market capitalization of $138.97 billion, a PE ratio of 41.64, a P/E/G ratio of 2.87 and a beta of 0.91. The firm’s fifty day moving average price is $345.12 and its 200 day moving average price is $342.81. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $374.63.

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, beating the consensus estimate of $2.79 by $0.02. The firm had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.54 earnings per share. As a group, research analysts expect that Stryker Co. will post 12 EPS for the current fiscal 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 issued a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.88%. Stryker’s dividend payout ratio is presently 36.53%.

Insider Activity at Stryker

In other Stryker news, insider Viju Menon sold 600 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares in the company, valued at $3,219,495. The transaction 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 business’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 2,852 shares in the company, valued at $949,716. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following 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 have sold 220,068 shares of company stock valued at $71,811,372 over the last ninety days. Corporate insiders own 5.90% of the company’s stock.

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.