Sawtooth Solutions LLC lifted its position in shares of Stryker Co. (NYSE:SYK – Get Rating) by 9.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 1,785 shares of the medical technology company’s stock after buying an additional 151 shares during the period. Sawtooth Solutions LLC’s holdings in Stryker were worth $355,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. TCI Wealth Advisors Inc. lifted its stake in shares of Stryker by 8.1% during the second quarter. TCI Wealth Advisors Inc. now owns 1,004 shares of the medical technology company’s stock valued at $200,000 after buying an additional 75 shares during the period. Legacy Wealth Asset Management LLC raised its stake in Stryker by 2.5% during the second quarter. Legacy Wealth Asset Management LLC now owns 5,650 shares of the medical technology company’s stock worth $1,124,000 after purchasing an additional 139 shares during the period. Farmers Trust Co. raised its stake in Stryker by 2.5% during the second quarter. Farmers Trust Co. now owns 23,993 shares of the medical technology company’s stock worth $4,773,000 after purchasing an additional 581 shares during the period. Keudell Morrison Wealth Management raised its stake in Stryker by 3.2% during the second quarter. Keudell Morrison Wealth Management now owns 5,176 shares of the medical technology company’s stock worth $1,030,000 after purchasing an additional 162 shares during the period. Finally, Brown Miller Wealth Management LLC raised its stake in Stryker by 6.7% during the second quarter. Brown Miller Wealth Management LLC now owns 5,662 shares of the medical technology company’s stock worth $1,126,000 after purchasing an additional 358 shares during the period. Hedge funds and other institutional investors own 76.44% of the company’s stock.
Stryker Stock Down 1.4 %
SYK stock opened at $202.54 on Friday. The company has a quick ratio of 1.15, a current ratio of 2.00 and a debt-to-equity ratio of 0.85. Stryker Co. has a fifty-two week low of $188.84 and a fifty-two week high of $280.43. The firm’s 50-day simple moving average is $213.96 and its 200 day simple moving average is $226.27. The stock has a market cap of $76.59 billion, a PE ratio of 37.30, a price-to-earnings-growth ratio of 2.45 and a beta of 1.03.
Stryker (NYSE:SYK – Get Rating) last released its earnings results on Tuesday, July 26th. The medical technology company reported $2.25 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.02). Stryker had a net margin of 11.79% and a return on equity of 23.34%. The company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same period in the previous year, the business posted $2.25 EPS. As a group, sell-side analysts predict that Stryker Co. will post 9.38 EPS for the current year.
Stryker Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be issued a dividend of $0.695 per share. This represents a $2.78 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Thursday, September 29th. Stryker’s dividend payout ratio is currently 51.20%.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on SYK shares. Edward Jones raised shares of Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, July 28th. Piper Sandler raised their price objective on Stryker from $250.00 to $260.00 and gave the company an “overweight” rating in a research report on Wednesday, September 14th. Stifel Nicolaus decreased their target price on Stryker from $285.00 to $245.00 in a research report on Monday, July 18th. StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a research note on Friday. Finally, BTIG Research cut their target price on Stryker from $244.00 to $238.00 and set a “buy” rating on the stock in a research report on Tuesday, September 6th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and an average target price of $256.29.
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 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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