Harvest Fund Management Co. Ltd boosted its position in Stryker Co. (NYSE:SYK – Free Report) by 261.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,399 shares of the medical technology company’s stock after buying an additional 1,012 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Stryker were worth $426,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Freedom Wealth Alliance LLC bought a new position in shares of Stryker in the 4th quarter worth $26,000. Quarry LP acquired a new position in Stryker in the first quarter valued at about $27,000. Elequin Securities LLC bought a new position in Stryker during the fourth quarter worth about $29,000. ST Germain D J Co. Inc. increased its stake in shares of Stryker by 6.6% in the 4th quarter. ST Germain D J Co. Inc. now owns 2,065 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 127 shares during the last quarter. Finally, Altshuler Shaham Ltd bought a new stake in shares of Stryker in the 1st quarter valued at about $33,000. 76.24% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms recently weighed in on SYK. Royal Bank of Canada reissued an “outperform” rating and set a $325.00 price objective on shares of Stryker in a research note on Thursday, August 17th. Barclays lifted their price target on shares of Stryker from $321.00 to $335.00 and gave the stock an “overweight” rating in a research report on Monday, August 7th. Truist Financial boosted their price target on shares of Stryker from $300.00 to $310.00 in a report on Wednesday, July 19th. Bank of America raised Stryker from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $310.00 to $315.00 in a research note on Tuesday, September 5th. Finally, Morgan Stanley boosted their target price on Stryker from $295.00 to $300.00 and gave the company an “equal weight” rating in a research note on Monday, August 7th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Stryker has an average rating of “Moderate Buy” and an average target price of $309.59.
Insider Buying and Selling
In other news, insider Viju Menon sold 5,000 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 6,994 shares in the company, valued at approximately $2,021,266. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 5.90% of the stock is currently owned by corporate insiders.
Stryker Price Performance
Shares of SYK opened at $295.00 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.54 and a debt-to-equity ratio of 0.64. Stryker Co. has a twelve month low of $200.80 and a twelve month high of $306.93. The stock has a market capitalization of $112.04 billion, a P/E ratio of 41.67, a P/E/G ratio of 2.87 and a beta of 0.95. The company has a 50 day moving average of $286.93 and a 200-day moving average of $285.36.
Stryker (NYSE:SYK – Get Free Report) last released its earnings results on Thursday, August 3rd. The medical technology company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.16. Stryker had a net margin of 13.92% and a return on equity of 22.31%. The business had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter last year, the firm earned $2.25 earnings per share. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, equities research analysts forecast that Stryker Co. will post 10.37 EPS for the current fiscal 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 issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $3.00 annualized dividend and a yield of 1.02%. Stryker’s payout ratio is presently 42.37%.
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.
- Five stocks we like better than Stryker
- Transportation Stocks Investing
- 3 Reasons Why AMD Might Breakout Higher
- Investing In Preferred Stock vs. Common Stock
- Build a Solid Gold Retirement With AI Powerhouse Adobe
- How to Most Effectively Use the MarketBeat Earnings Screener
- 2 Wrecked Stocks Keeping Cars on the Road Ready for Repair
Receive News & Ratings for Stryker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stryker and related companies with MarketBeat.com's FREE daily email newsletter.