Ferguson Wellman Capital Management Inc. raised its holdings in shares of Stryker Co. (NYSE:SYK – Free Report) by 5.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 128,527 shares of the medical technology company’s stock after purchasing an additional 6,605 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Stryker were worth $39,212,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in SYK. Freedom Wealth Alliance LLC purchased a new stake in Stryker during the 4th quarter valued at about $26,000. Quarry LP bought a new position in shares of Stryker in the first quarter worth approximately $27,000. ST Germain D J Co. Inc. grew its holdings in shares of Stryker by 6.6% during the fourth 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. Altshuler Shaham Ltd bought a new stake in shares of Stryker during the first quarter valued at approximately $33,000. Finally, Cascade Investment Advisors Inc. purchased a new position in Stryker in the 1st quarter worth approximately $34,000. 76.24% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, insider Viju Menon sold 5,000 shares of the firm’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 value of $1,445,000.00. Following the completion of the sale, the insider now directly owns 6,994 shares of the company’s stock, valued at approximately $2,021,266. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.90% of the stock is currently owned by corporate insiders.
Stryker Price Performance
Stryker (NYSE:SYK – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The medical technology company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.16. The company had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.83 billion. Stryker had a net margin of 13.92% and a return on equity of 22.31%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.25 earnings per share. Sell-side analysts forecast that Stryker Co. will post 10.37 EPS for the current year.
Stryker Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Thursday, September 28th. Stryker’s dividend payout ratio (DPR) is currently 42.37%.
Analysts Set New Price Targets
Several research firms have recently weighed in on SYK. Barclays boosted their price target on Stryker from $321.00 to $335.00 and gave the stock an “overweight” rating in a research note on Monday, August 7th. Truist Financial upped their target price on shares of Stryker from $300.00 to $310.00 in a research note on Wednesday, July 19th. StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a research note on Friday, September 8th. Argus increased their price objective on shares of Stryker from $285.00 to $310.00 in a research report on Thursday, May 25th. Finally, Bank of America raised shares of Stryker from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $310.00 to $315.00 in a research report on Tuesday, September 5th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $309.59.
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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