PFG Advisors Acquires 174 Shares of Stryker Co. (NYSE:SYK)

PFG Advisors boosted its holdings in shares of Stryker Co. (NYSE:SYK) by 1.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,225 shares of the medical technology company’s stock after purchasing an additional 174 shares during the period. PFG Advisors’ holdings in Stryker were worth $4,160,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SYK. Burkett Financial Services LLC bought a new stake in Stryker during the fourth quarter worth $25,000. DSM Capital Partners LLC bought a new stake in Stryker during the fourth quarter worth $34,000. Central Pacific Bank Trust Division bought a new stake in Stryker during the first quarter worth $39,000. Private Wealth Management Group LLC acquired a new position in shares of Stryker during the fourth quarter worth $40,000. Finally, Accent Capital Management LLC acquired a new position in shares of Stryker during the fourth quarter worth $60,000. 77.09% of the stock is currently owned by institutional investors.

Insider Transactions at Stryker

In other news, insider Viju Menon sold 600 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Viju Menon sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the transaction, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. The disclosure for this sale can be found here. Insiders have sold 210,600 shares of company stock valued at $68,330,400 in the last 90 days. 5.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SYK shares. Truist Financial lowered their price target on shares of Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a report on Thursday, August 1st. BTIG Research upped their price target on shares of Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Needham & Company LLC upped their price target on shares of Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Barclays upped their price target on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $386.00 price target on shares of Stryker in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $378.58.

Stryker Stock Performance

Shares of Stryker stock opened at $366.35 on Thursday. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $340.89 and a two-hundred day moving average price of $342.21. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $366.69. The company has a market cap of $139.56 billion, a P/E ratio of 41.82, a PEG ratio of 2.77 and a beta of 0.91.

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

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.80 per share. The ex-dividend date is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.87%. Stryker’s dividend payout ratio (DPR) is presently 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.