MBB Public Markets I LLC Increases Holdings in Stryker Co. (NYSE:SYK)

MBB Public Markets I LLC grew its stake in shares of Stryker Co. (NYSE:SYK) by 1,823.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,257 shares of the medical technology company’s stock after acquiring an additional 22,996 shares during the quarter. MBB Public Markets I LLC’s holdings in Stryker were worth $8,253,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SYK. Precision Wealth Strategies LLC raised its position in Stryker by 2.1% in the 4th quarter. Precision Wealth Strategies LLC now owns 3,114 shares of the medical technology company’s stock worth $933,000 after buying an additional 65 shares during the last quarter. Gryphon Financial Partners LLC bought a new position in Stryker during the fourth quarter valued at approximately $348,000. Assetmark Inc. boosted its holdings in Stryker by 57.1% in the fourth quarter. Assetmark Inc. now owns 891 shares of the medical technology company’s stock worth $267,000 after purchasing an additional 324 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in Stryker by 5.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 15,082 shares of the medical technology company’s stock worth $4,517,000 after purchasing an additional 728 shares during the period. Finally, Avestar Capital LLC raised its stake in Stryker by 28.3% during the 4th quarter. Avestar Capital LLC now owns 1,432 shares of the medical technology company’s stock valued at $430,000 after buying an additional 316 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of NYSE SYK opened at $361.38 on Friday. The firm’s fifty day moving average is $346.93 and its two-hundred day moving average is $343.01. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $374.63. The company has a market cap of $137.67 billion, a P/E ratio of 41.25, a P/E/G ratio of 2.79 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68.

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

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Insider Buying and Selling

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, 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 sale, the director now owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 220,068 shares of company stock worth $71,811,372. Insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SYK shares. Morgan Stanley raised their price target on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Evercore ISI cut their price target on Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $386.00 price objective on shares of Stryker in a report on Wednesday, July 31st. The Goldman Sachs Group initiated coverage on shares of Stryker in a research note on Thursday, May 30th. They set a “neutral” rating and a $372.00 price target on the stock. Finally, 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. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $378.58.

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