CRA Financial Services LLC purchased a new stake in Stryker Co. (NYSE:SYK – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 672 shares of the medical technology company’s stock, valued at approximately $205,000.
A number of other institutional investors also recently bought and sold shares of the business. Vinva Investment Management Ltd purchased a new stake in Stryker during the first quarter worth approximately $3,257,000. Stifel Financial Corp boosted its holdings in shares of Stryker by 0.7% in the 1st quarter. Stifel Financial Corp now owns 400,767 shares of the medical technology company’s stock valued at $114,412,000 after buying an additional 2,868 shares in the last quarter. Coastal Investment Advisors Inc. purchased a new position in shares of Stryker in the 4th quarter valued at $271,000. Maryland State Retirement & Pension System raised its stake in Stryker by 0.6% during the 1st quarter. Maryland State Retirement & Pension System now owns 27,814 shares of the medical technology company’s stock worth $7,940,000 after acquiring an additional 164 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its stake in Stryker by 28.6% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,451 shares of the medical technology company’s stock valued at $1,271,000 after acquiring an additional 990 shares in the last quarter. 76.24% of the stock is owned by hedge funds and other institutional investors.
Stryker Trading Down 0.8 %
Shares of SYK opened at $292.77 on Monday. The firm’s 50-day moving average is $286.90 and its two-hundred day moving average is $285.91. Stryker Co. has a twelve month low of $200.80 and a twelve month high of $306.93. The company has a current ratio of 1.54, a quick ratio of 0.84 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $111.19 billion, a P/E ratio of 41.35, a PEG ratio of 2.85 and a beta of 0.95.
Stryker Announces Dividend
The firm also recently disclosed 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. The ex-dividend date is Thursday, September 28th. This represents a $3.00 dividend on an annualized basis and a yield of 1.02%. Stryker’s payout ratio is 42.37%.
Analyst Ratings Changes
Several analysts have recently weighed in on the company. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a report on Friday, September 8th. Argus increased their price objective on Stryker from $285.00 to $310.00 in a report on Thursday, May 25th. Barclays lifted their target price on shares of Stryker from $321.00 to $335.00 and gave the company an “overweight” rating in a report on Monday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $325.00 price target on shares of Stryker in a research note on Thursday, August 17th. Finally, Bank of America raised shares of Stryker from a “neutral” rating to a “buy” rating and upped their target price for the company from $310.00 to $315.00 in a report on Tuesday, September 5th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $309.59.
Insider Buying and Selling at Stryker
In other news, insider Viju Menon sold 5,000 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $289.00, for a total value of $1,445,000.00. Following the sale, the insider now directly owns 6,994 shares in the company, valued at $2,021,266. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.90% of the stock is currently owned by 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 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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