Greenwood Gearhart Inc. raised its position in shares of Stryker Co. (NYSE:SYK – Free Report) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,623 shares of the medical technology company’s stock after acquiring an additional 1,049 shares during the period. Stryker makes up 1.8% of Greenwood Gearhart Inc.’s portfolio, making the stock its 16th biggest position. Greenwood Gearhart Inc.’s holdings in Stryker were worth $14,166,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Freedom Wealth Alliance LLC acquired a new position in shares of Stryker during the fourth quarter worth about $26,000. Quarry LP acquired a new position in shares of Stryker during the first quarter worth about $27,000. Elequin Securities LLC acquired a new position in shares of Stryker during the fourth quarter worth about $29,000. ST Germain D J Co. Inc. lifted its stake in shares of Stryker by 6.6% during the fourth quarter. ST Germain D J Co. Inc. now owns 2,065 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 127 shares in the last quarter. Finally, Altshuler Shaham Ltd acquired a new position in shares of Stryker during the first quarter worth about $33,000. Hedge funds and other institutional investors own 76.24% of the company’s stock.
Wall Street Analysts Forecast Growth
SYK has been the topic of several recent analyst reports. BTIG Research boosted their price target on Stryker from $313.00 to $331.00 in a research note on Monday, July 17th. Argus boosted their price target on Stryker from $285.00 to $310.00 in a research note on Thursday, May 25th. Bank of America upgraded Stryker from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $310.00 to $315.00 in a research note on Tuesday, September 5th. Truist Financial upped their price objective on Stryker from $300.00 to $310.00 in a research note on Wednesday, July 19th. Finally, StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a research note on Friday. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus price target of $309.59.
Insider Buying and Selling at Stryker
In related news, insider Viju Menon sold 5,000 shares of the stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $289.00, for a total transaction of $1,445,000.00. Following the completion of the transaction, the insider now directly owns 6,994 shares in the company, valued at $2,021,266. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 5.90% of the company’s stock.
Stryker Trading Down 0.8 %
SYK traded down $2.30 during trading on Tuesday, reaching $297.42. 47,456 shares of the company’s stock were exchanged, compared to its average volume of 1,289,316. The company’s fifty day moving average price is $287.00 and its 200-day moving average price is $284.98. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.84 and a current ratio of 1.54. Stryker Co. has a fifty-two week low of $200.80 and a fifty-two week high of $306.93. The firm has a market capitalization of $112.95 billion, a PE ratio of 42.33, a P/E/G ratio of 2.79 and a beta of 0.95.
Stryker (NYSE:SYK – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The medical technology company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.16. The company had revenue of $5 billion for the quarter, compared to analysts’ expectations of $4.83 billion. Stryker had a net margin of 13.92% and a return on equity of 22.31%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the firm posted $2.25 earnings per share. As a group, equities analysts forecast that Stryker Co. will post 10.37 EPS for the current year.
Stryker Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Thursday, September 28th. Stryker’s payout ratio is presently 42.37%.
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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.
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