Scientech Research LLC Grows Position in Stryker Co. (NYSE:SYK)

Scientech Research LLC grew its stake in Stryker Co. (NYSE:SYK) by 46.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,527 shares of the medical technology company’s stock after buying an additional 483 shares during the period. Scientech Research LLC’s holdings in Stryker were worth $520,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Central Pacific Bank Trust Division purchased a new stake in Stryker in the 1st quarter worth approximately $39,000. Accent Capital Management LLC purchased a new stake in shares of Stryker in the fourth quarter worth $60,000. Sachetta LLC raised its position in shares of Stryker by 16.3% during the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock valued at $80,000 after purchasing an additional 34 shares during the period. Hazlett Burt & Watson Inc. raised its position in shares of Stryker by 17.9% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 264 shares of the medical technology company’s stock valued at $94,000 after purchasing an additional 40 shares during the period. Finally, Rise Advisors LLC lifted its stake in shares of Stryker by 144.6% during the 1st quarter. Rise Advisors LLC now owns 274 shares of the medical technology company’s stock valued at $98,000 after buying an additional 162 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

SYK has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $386.00 price target on shares of Stryker in a report on Wednesday, July 31st. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research note on Monday, September 16th. Wolfe Research initiated coverage on Stryker in a report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price target on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $380.00 price objective on shares of Stryker in a report on Tuesday, September 10th. Finally, Barclays boosted their target price on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $378.58.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the sale, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction that occurred 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 sold 220,068 shares of company stock worth $71,811,372 over the last 90 days. Company insiders own 5.90% of the company’s stock.

Stryker Price Performance

NYSE:SYK opened at $360.27 on Monday. The firm has a market capitalization of $137.29 billion, a price-to-earnings ratio of 41.13, a PEG ratio of 2.78 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. The business has a 50 day simple moving average of $347.92 and a 200-day simple moving average of $342.96. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $374.63.

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

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.89%. The ex-dividend date is Monday, September 30th. Stryker’s payout ratio is currently 36.53%.

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.