Stokes Capital Advisors LLC grew its position in shares of Stryker Co. (NYSE:SYK – Free Report) by 3.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,966 shares of the medical technology company’s stock after purchasing an additional 618 shares during the period. Stryker comprises about 2.2% of Stokes Capital Advisors LLC’s holdings, making the stock its 16th largest holding. Stokes Capital Advisors LLC’s holdings in Stryker were worth $6,397,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. boosted its holdings in Stryker by 0.7% during the 1st quarter. BlackRock Inc. now owns 24,673,528 shares of the medical technology company’s stock valued at $7,043,552,000 after acquiring an additional 178,460 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Stryker by 1.5% during the first quarter. Bank of New York Mellon Corp now owns 6,683,415 shares of the medical technology company’s stock valued at $1,907,914,000 after acquiring an additional 98,909 shares during the last quarter. FMR LLC boosted its holdings in shares of Stryker by 50.5% during the first quarter. FMR LLC now owns 6,012,525 shares of the medical technology company’s stock worth $1,716,396,000 after purchasing an additional 2,017,006 shares during the period. Morgan Stanley grew its stake in shares of Stryker by 21.7% in the fourth quarter. Morgan Stanley now owns 5,978,782 shares of the medical technology company’s stock worth $1,461,753,000 after purchasing an additional 1,066,751 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Stryker by 2.0% during the 1st quarter. Geode Capital Management LLC now owns 5,954,038 shares of the medical technology company’s stock valued at $1,695,169,000 after purchasing an additional 117,786 shares during the period. 76.24% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts have issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $325.00 price objective on shares of Stryker in a research report on Thursday, August 17th. StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a report on Friday, September 8th. Argus upped their target price on Stryker from $285.00 to $310.00 in a report on Thursday, May 25th. Bank of America upgraded Stryker from a “neutral” rating to a “buy” rating and raised their target price for the company from $310.00 to $315.00 in a research note on Tuesday, September 5th. Finally, BTIG Research upped their price target on Stryker from $313.00 to $331.00 in a research note on Monday, July 17th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $309.59.
Insider Buying and Selling at Stryker
In other news, insider Viju Menon sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were 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 of the company’s stock, valued at $2,021,266. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.90% of the company’s stock.
Stryker Stock Down 0.5 %
Shares of NYSE:SYK traded down $1.58 during trading on Monday, reaching $291.19. 202,048 shares of the stock traded hands, compared to its average volume of 1,295,406. Stryker Co. has a 52-week low of $200.80 and a 52-week high of $306.93. The stock has a market cap of $110.59 billion, a P/E ratio of 41.35, a price-to-earnings-growth ratio of 2.85 and a beta of 0.95. The stock has a 50-day moving average of $286.90 and a two-hundred day moving average of $285.91. 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 (NYSE:SYK – Get Free Report) last issued its earnings results on Thursday, August 3rd. The medical technology company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.38 by $0.16. Stryker had a return on equity of 22.31% and a net margin of 13.92%. The business had revenue of $5 billion for the quarter, compared to the consensus estimate of $4.83 billion. During the same period last year, the business posted $2.25 EPS. The company’s revenue was up 11.2% compared to the same quarter last year. As a group, sell-side analysts expect that Stryker Co. will post 10.37 earnings per share for the current fiscal year.
Stryker Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Thursday, September 28th. Stryker’s dividend payout ratio (DPR) is 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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