Abner Herrman & Brock LLC Grows Position in Stryker Co. (NYSE:SYK)

Abner Herrman & Brock LLC increased its stake in shares of Stryker Co. (NYSE:SYK) by 2.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,265 shares of the medical technology company’s stock after purchasing an additional 886 shares during the quarter. Abner Herrman & Brock LLC’s holdings in Stryker were worth $9,844,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Canandaigua National Bank & Trust Co. grew its position in shares of Stryker by 1.4% in the second quarter. Canandaigua National Bank & Trust Co. now owns 7,497 shares of the medical technology company’s stock valued at $2,287,000 after purchasing an additional 104 shares during the period. Advance Capital Management Inc. acquired a new position in shares of Stryker in the 2nd quarter valued at $397,000. First Financial Bank Trust Division grew its stake in shares of Stryker by 0.7% during the 2nd quarter. First Financial Bank Trust Division now owns 59,380 shares of the medical technology company’s stock valued at $18,116,000 after buying an additional 426 shares during the period. Oliver Lagore Vanvalin Investment Group increased its holdings in shares of Stryker by 36.4% during the 1st quarter. Oliver Lagore Vanvalin Investment Group now owns 2,029 shares of the medical technology company’s stock worth $579,000 after buying an additional 541 shares during the last quarter. Finally, Bradley Mark J. raised its position in shares of Stryker by 11.6% in the 1st quarter. Bradley Mark J. now owns 18,870 shares of the medical technology company’s stock worth $5,387,000 after buying an additional 1,955 shares during the period. Institutional investors and hedge funds own 76.24% of the company’s stock.

Stryker Stock Down 0.5 %

Shares of Stryker stock traded down $1.55 on Thursday, hitting $295.77. 241,794 shares of the company’s stock traded hands, compared to its average volume of 1,290,171. The company has a quick ratio of 0.84, a current ratio of 1.54 and a debt-to-equity ratio of 0.64. The firm’s 50-day moving average is $286.94 and its 200 day moving average is $285.29. The stock has a market cap of $112.33 billion, a P/E ratio of 41.99, a PEG ratio of 2.79 and a beta of 0.95. Stryker Co. has a 52-week low of $200.80 and a 52-week high of $306.93.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, August 3rd. The medical technology company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.16. The business had revenue of $5 billion for the quarter, compared to analyst estimates of $4.83 billion. Stryker had a net margin of 13.92% and a return on equity of 22.31%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.25 EPS. Equities analysts anticipate that Stryker Co. will post 10.37 earnings per share for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.01%. Stryker’s dividend payout ratio (DPR) is 42.37%.

Insider Activity

In other Stryker news, insider Viju Menon sold 5,000 shares of Stryker stock in a transaction 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 completion of the transaction, the insider now owns 6,994 shares of the company’s stock, valued at $2,021,266. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the subject of a number of research reports. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research report on Friday, September 8th. Morgan Stanley increased their target price on shares of Stryker from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Monday, August 7th. BTIG Research lifted their price target on shares of Stryker from $313.00 to $331.00 in a research report on Monday, July 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $325.00 price objective on shares of Stryker in a research report on Thursday, August 17th. Finally, Truist Financial lifted their target price on shares of Stryker from $300.00 to $310.00 in a report on Wednesday, July 19th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $309.59.

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.