Stryker Co. (NYSE:SYK) Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC boosted its stake in Stryker Co. (NYSE:SYK) by 6.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,470 shares of the medical technology company’s stock after buying an additional 3,206 shares during the period. ProShare Advisors LLC’s holdings in Stryker were worth $17,513,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Kowal Investment Group LLC acquired a new position in Stryker during the 2nd quarter valued at about $236,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Stryker by 3.3% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 70,198 shares of the medical technology company’s stock valued at $23,885,000 after buying an additional 2,222 shares during the last quarter. Alaethes Wealth LLC acquired a new position in shares of Stryker during the second quarter worth approximately $1,398,000. Transatlantique Private Wealth LLC grew its holdings in Stryker by 4.6% in the 2nd quarter. Transatlantique Private Wealth LLC now owns 902 shares of the medical technology company’s stock worth $307,000 after buying an additional 40 shares in the last quarter. Finally, Summit Trail Advisors LLC increased its position in Stryker by 3.0% in the 2nd quarter. Summit Trail Advisors LLC now owns 5,053 shares of the medical technology company’s stock valued at $1,723,000 after acquiring an additional 148 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SYK shares. StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a research note on Monday, September 16th. Barclays raised their target price on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. UBS Group upped their price target on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Morgan Stanley raised their price objective on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Finally, Piper Sandler restated an “overweight” rating and issued a $380.00 target price on shares of Stryker in a research report on Tuesday, September 10th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $378.58.

Stryker Stock Performance

Shares of SYK opened at $366.53 on Tuesday. The company has a 50-day moving average of $345.88 and a two-hundred day moving average of $342.87. The stock has a market cap of $139.63 billion, a price-to-earnings ratio of 41.84, a PEG ratio of 2.87 and a beta of 0.91. 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 one year low of $249.98 and a one year high of $374.63.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the previous year, the company posted $2.54 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, equities research analysts expect that Stryker Co. will post 12 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio is currently 36.53%.

Insider Buying and Selling

In other news, 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 transaction, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. The sale was disclosed in a 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 company’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 transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Viju Menon sold 600 shares of Stryker stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. The disclosure for this sale can be found here. In the last ninety days, insiders sold 220,068 shares of company stock valued at $71,811,372. 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.