Ethic Inc. lifted its position in shares of Stryker Co. (NYSE:SYK) by 36.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,166 shares of the medical technology company’s stock after buying an additional 310 shares during the period. Ethic Inc.’s holdings in Stryker were worth $303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in SYK. Camden National Bank acquired a new stake in Stryker in the 4th quarter valued at approximately $213,000. Standard Life Aberdeen plc increased its holdings in Stryker by 6.4% in the 1st quarter. Standard Life Aberdeen plc now owns 125,170 shares of the medical technology company’s stock valued at $30,502,000 after purchasing an additional 7,506 shares during the last quarter. Koshinski Asset Management Inc. acquired a new stake in Stryker in the 1st quarter valued at approximately $985,000. Edgestream Partners L.P. acquired a new stake in Stryker in the 1st quarter valued at approximately $2,399,000. Finally, Abundance Wealth Counselors acquired a new stake in Stryker in the 1st quarter valued at approximately $103,000. Institutional investors and hedge funds own 72.58% of the company’s stock.
In other news, VP Robert S. Fletcher sold 1,120 shares of the company’s stock in a transaction dated Thursday, August 5th. The shares were sold at an average price of $261.10, for a total value of $292,432.00. Following the completion of the sale, the vice president now directly owns 4,533 shares of the company’s stock, valued at $1,183,566.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ronda E. Stryker sold 150,000 shares of the company’s stock in a transaction dated Friday, August 6th. The shares were sold at an average price of $262.26, for a total transaction of $39,339,000.00. The disclosure for this sale can be found here. 6.70% of the stock is owned by insiders.
Stryker (NYSE:SYK) last announced its quarterly earnings results on Monday, July 26th. The medical technology company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.13. Stryker had a net margin of 12.82% and a return on equity of 26.08%. The firm had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.14 billion. During the same period in the previous year, the company earned $0.64 earnings per share. Stryker’s quarterly revenue was up 55.4% compared to the same quarter last year. As a group, equities analysts expect that Stryker Co. will post 9.35 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 29th. Investors of record on Thursday, September 30th will be given a $0.63 dividend. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a $2.52 dividend on an annualized basis and a yield of 0.92%. Stryker’s dividend payout ratio (DPR) is presently 33.92%.
Several research firms recently weighed in on SYK. SVB Leerink lifted their target price on shares of Stryker from $290.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, July 28th. Truist Securities boosted their price target on shares of Stryker from $250.00 to $275.00 and gave the stock a “hold” rating in a research note on Wednesday, July 28th. Morgan Stanley boosted their price target on shares of Stryker from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 28th. Oppenheimer boosted their price target on shares of Stryker from $273.00 to $288.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 28th. Finally, Credit Suisse Group boosted their price target on shares of Stryker from $291.00 to $311.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $287.18.
Stryker Corp. engages in the provision of medical technology products and services. It operates through the following segments: Orthopaedics, MedSurg, and Neurotechnology & Spine. The Orthopaedics segment provides reconstructive and trauma implant systems. The MedSurg segment deals with surgical equipment and navigation systems, endoscopy, patient handling and reprocessed medical devices.
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