Buttonwood Financial Advisors Inc. Acquires New Shares in Stryker Co. (NYSE:SYK)

Buttonwood Financial Advisors Inc. bought a new position in shares of Stryker Co. (NYSE:SYK) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,278 shares of the medical technology company’s stock, valued at approximately $390,000.

Several other institutional investors have also recently bought and sold shares of the business. Freedom Wealth Alliance LLC acquired a new stake in shares of Stryker during the 4th quarter valued at $26,000. Quarry LP bought a new stake in shares of Stryker during the first quarter worth about $27,000. Elequin Securities LLC acquired a new position in shares of Stryker in the fourth quarter valued at approximately $29,000. ST Germain D J Co. Inc. raised its holdings in 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 buying an additional 127 shares during the last quarter. Finally, Altshuler Shaham Ltd acquired a new stake in Stryker during the 1st quarter worth approximately $33,000. Institutional investors and hedge funds own 76.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SYK shares. Barclays upped their price target on shares of Stryker from $321.00 to $335.00 and gave the company an “overweight” rating in a research report on Monday, August 7th. BTIG Research lifted their target price on Stryker from $313.00 to $331.00 in a report on Monday, July 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $325.00 price target on shares of Stryker in a research note on Thursday, August 17th. Truist Financial lifted their price objective on Stryker from $300.00 to $310.00 in a research note on Wednesday, July 19th. Finally, StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research report on Friday, September 8th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $309.59.

Insider Buying and Selling

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 stock was sold at an average price of $289.00, for a total transaction of $1,445,000.00. Following 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 legal filing with the Securities & Exchange Commission, which is available through this link. 5.90% of the stock is owned by corporate insiders.

Stryker Stock Down 0.8 %

SYK traded down $2.23 during midday trading on Friday, reaching $292.77. 2,134,362 shares of the company were exchanged, compared to its average volume of 1,095,935. Stryker Co. has a one year low of $200.80 and a one year high of $306.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.84 and a current ratio of 1.54. The company’s fifty day moving average price is $286.93 and its 200 day moving average price is $285.36. The company has a market cap of $111.19 billion, a price-to-earnings ratio of 41.37, a price-to-earnings-growth ratio of 2.85 and a beta of 0.95.

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

Stryker Announces Dividend

The firm 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. This represents a $3.00 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, September 28th. Stryker’s dividend payout ratio is currently 42.37%.

About Stryker

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.