Stryker Co. (NYSE:SYK) Stock Position Increased by Dorsey & Whitney Trust CO LLC

Dorsey & Whitney Trust CO LLC lifted its position in Stryker Co. (NYSE:SYK) by 18.9% during the second quarter, Holdings Channel reports. The institutional investor owned 4,265 shares of the medical technology company’s stock after buying an additional 677 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Stryker were worth $1,451,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. LGT Fund Management Co Ltd. bought a new stake in shares of Stryker in the 2nd quarter worth $313,000. LGT Group Foundation raised its stake in shares of Stryker by 534.1% in the 2nd quarter. LGT Group Foundation now owns 13,069 shares of the medical technology company’s stock worth $4,447,000 after buying an additional 11,008 shares in the last quarter. Choreo LLC raised its stake in shares of Stryker by 209.7% in the 2nd quarter. Choreo LLC now owns 17,144 shares of the medical technology company’s stock worth $5,776,000 after buying an additional 11,609 shares in the last quarter. Wedbush Securities Inc. grew its holdings in shares of Stryker by 2.2% in the 2nd quarter. Wedbush Securities Inc. now owns 8,299 shares of the medical technology company’s stock worth $2,824,000 after acquiring an additional 177 shares during the last quarter. Finally, Connable Office Inc. grew its holdings in shares of Stryker by 881.0% in the 2nd quarter. Connable Office Inc. now owns 129,487 shares of the medical technology company’s stock worth $44,058,000 after acquiring an additional 116,287 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Up 0.6 %

Shares of Stryker stock opened at $365.10 on Wednesday. The stock has a 50-day simple moving average of $340.21 and a 200-day simple moving average of $342.04. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $365.96. The firm has a market cap of $139.13 billion, a price-to-earnings ratio of 41.68, a P/E/G ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the previous year, the company earned $2.54 earnings per share. The company’s revenue was up 8.5% compared to the same quarter last year. On average, equities research analysts expect that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.88%. The ex-dividend date is Monday, September 30th. Stryker’s payout ratio is 36.53%.

Insiders Place Their Bets

In other Stryker news, insider Viju Menon sold 600 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Stryker news, insider Viju Menon sold 600 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The disclosure for this sale can be found here. Insiders have sold 210,600 shares of company stock valued at $68,330,400 over the last three months. 5.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Truist Financial decreased their target price on Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. The Goldman Sachs Group assumed coverage on Stryker in a report on Thursday, May 30th. They issued a “neutral” rating and a $372.00 target price on the stock. Piper Sandler restated an “overweight” rating and issued a $380.00 target price on shares of Stryker in a report on Tuesday. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. Finally, Evercore ISI decreased their target price on Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $378.58.

Stryker 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 total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.