Stryker Co. (NYSE:SYK) Shares Acquired by Premier Path Wealth Partners LLC

Premier Path Wealth Partners LLC lifted its stake in shares of Stryker Co. (NYSE:SYK) by 4.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,718 shares of the medical technology company’s stock after buying an additional 71 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Stryker were worth $585,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Catalina Capital Group LLC lifted its stake in Stryker by 8.4% during the second quarter. Catalina Capital Group LLC now owns 1,656 shares of the medical technology company’s stock worth $563,000 after purchasing an additional 129 shares during the last quarter. Cornerstone Wealth Group LLC raised its stake in shares of Stryker by 5.4% during the second quarter. Cornerstone Wealth Group LLC now owns 2,410 shares of the medical technology company’s stock valued at $820,000 after purchasing an additional 123 shares in the last quarter. LVZ Inc. raised its stake in shares of Stryker by 23.9% during the second quarter. LVZ Inc. now owns 3,934 shares of the medical technology company’s stock valued at $1,339,000 after purchasing an additional 759 shares in the last quarter. &PARTNERS raised its stake in shares of Stryker by 119.2% during the second quarter. &PARTNERS now owns 11,056 shares of the medical technology company’s stock valued at $3,762,000 after purchasing an additional 6,013 shares in the last quarter. Finally, Cultivar Capital Inc. bought a new stake in shares of Stryker during the second quarter valued at about $170,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insiders Place Their Bets

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction that occurred on Friday, August 2nd. The stock was 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 of the company’s stock, valued at approximately $949,716. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Ronda E. Stryker sold 190,000 shares of the business’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 sale, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 2,852 shares in the company, valued at $949,716. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SYK. Needham & Company LLC lifted their target price on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Roth Mkm lifted their price target on Stryker from $348.00 to $405.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Truist Financial dropped their price target on Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. Finally, Robert W. Baird lifted their price target on Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $373.11.

Stryker Stock Performance

SYK traded up $2.57 on Friday, hitting $353.29. The company had a trading volume of 966,116 shares, compared to its average volume of 1,456,137. The company’s fifty day moving average price is $335.90 and its 200 day moving average price is $340.98. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41. 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 stock has a market cap of $134.63 billion, a price-to-earnings ratio of 40.33, a price-to-earnings-growth ratio of 2.71 and a beta of 0.89.

Stryker (NYSE:SYK) last issued its quarterly earnings results 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. The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.54 EPS. Equities analysts predict that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio is currently 36.53%.

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.