State of Alaska Department of Revenue Acquires 2,665 Shares of Stryker Co. (NYSE:SYK)

State of Alaska Department of Revenue lifted its holdings in Stryker Co. (NYSE:SYKGet Rating) by 5.3% in the second quarter, Holdings Channel reports. The fund owned 52,542 shares of the medical technology company’s stock after purchasing an additional 2,665 shares during the quarter. State of Alaska Department of Revenue’s holdings in Stryker were worth $10,451,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vigilant Capital Management LLC raised its position in Stryker by 9.6% in the 1st quarter. Vigilant Capital Management LLC now owns 458 shares of the medical technology company’s stock worth $122,000 after purchasing an additional 40 shares during the period. Capital City Trust Co. FL raised its position in Stryker by 3.4% in the 1st quarter. Capital City Trust Co. FL now owns 1,200 shares of the medical technology company’s stock worth $321,000 after purchasing an additional 40 shares during the period. Evergreen Wealth Solutions LLC raised its position in Stryker by 2.9% in the 1st quarter. Evergreen Wealth Solutions LLC now owns 1,414 shares of the medical technology company’s stock worth $378,000 after purchasing an additional 40 shares during the period. Assenagon Asset Management S.A. raised its position in Stryker by 1.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,448 shares of the medical technology company’s stock worth $654,000 after purchasing an additional 42 shares during the period. Finally, Carolinas Wealth Consulting LLC raised its position in Stryker by 3.0% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 1,533 shares of the medical technology company’s stock worth $411,000 after purchasing an additional 45 shares during the period. Institutional investors own 76.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SYK. Bank of America lowered shares of Stryker from a “buy” rating to a “neutral” rating in a research report on Monday, July 11th. Truist Financial raised their target price on shares of Stryker to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. Robert W. Baird reduced their target price on shares of Stryker from $297.00 to $240.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. Edward Jones raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, July 28th. Finally, Morgan Stanley reduced their target price on shares of Stryker from $270.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Friday, July 15th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $256.29.

Stryker Stock Performance

Shares of SYK stock opened at $221.25 on Monday. The firm has a market cap of $83.67 billion, a price-to-earnings ratio of 40.75, a PEG ratio of 2.69 and a beta of 1.03. The company’s 50 day moving average is $211.40 and its 200 day moving average is $229.19. The company has a quick ratio of 1.15, a current ratio of 2.00 and a debt-to-equity ratio of 0.85. Stryker Co. has a 52-week low of $188.84 and a 52-week high of $280.43.

Stryker (NYSE:SYKGet Rating) last issued its quarterly earnings data on Tuesday, July 26th. The medical technology company reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($0.03). Stryker had a net margin of 11.79% and a return on equity of 23.34%. During the same quarter in the previous year, the business earned $2.25 EPS. On average, sell-side analysts anticipate that Stryker Co. will post 9.38 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be paid a $0.695 dividend. The ex-dividend date is Thursday, September 29th. This represents a $2.78 annualized dividend and a yield of 1.26%. Stryker’s dividend payout ratio (DPR) is 51.20%.

Stryker Profile

(Get Rating)

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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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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