Cranbrook Wealth Management LLC Purchases 2,702 Shares of Stryker Co. (NYSE:SYK)

Cranbrook Wealth Management LLC grew its stake in shares of Stryker Co. (NYSE:SYK) by 362.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,448 shares of the medical technology company’s stock after acquiring an additional 2,702 shares during the period. Cranbrook Wealth Management LLC’s holdings in Stryker were worth $1,173,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in SYK. Precision Wealth Strategies LLC grew its holdings in shares of Stryker by 2.1% in the fourth quarter. Precision Wealth Strategies LLC now owns 3,114 shares of the medical technology company’s stock worth $933,000 after purchasing an additional 65 shares during the last quarter. Gryphon Financial Partners LLC bought a new position in shares of Stryker during the fourth quarter valued at $348,000. Level Four Advisory Services LLC raised its holdings in Stryker by 31.0% in the fourth quarter. Level Four Advisory Services LLC now owns 1,204 shares of the medical technology company’s stock worth $361,000 after buying an additional 285 shares during the last quarter. TrinityPoint Wealth LLC increased its holdings in shares of Stryker by 2.5% in the 4th quarter. TrinityPoint Wealth LLC now owns 2,841 shares of the medical technology company’s stock worth $851,000 after purchasing an additional 70 shares in the last quarter. Finally, UBS Group AG lifted its stake in Stryker by 23.8% during the 4th quarter. UBS Group AG now owns 896,999 shares of the medical technology company’s stock valued at $268,615,000 after acquiring an additional 172,391 shares during the period. Institutional investors own 77.09% of the company’s stock.

Insider Activity

In other news, insider Viju Menon sold 600 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares in the company, valued at $3,219,495. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Stryker news, insider Viju Menon sold 600 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was 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 document filed with the SEC, which is available at this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. 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 three months. Corporate insiders own 5.90% of the company’s stock.

Stryker Price Performance

Stryker stock opened at $371.97 on Tuesday. The company has a market cap of $141.70 billion, a P/E ratio of 42.46, a price-to-earnings-growth ratio of 2.84 and a beta of 0.91. Stryker Co. has a one year low of $249.98 and a one year high of $374.63. The business has a fifty day moving average of $343.03 and a two-hundred day moving average of $342.53. 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 quarterly earnings data 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 during 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 quarterly 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 EPS. As a group, analysts predict that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is currently 36.53%.

Wall Street Analyst Weigh In

A number of analysts have commented on SYK shares. Barclays upped their target price on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. BTIG Research increased their price objective on shares of Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Wolfe Research initiated coverage on shares of Stryker in a research note on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $386.00 target price on shares of Stryker in a report on Wednesday, July 31st. Finally, Morgan Stanley raised their price objective on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $378.58.

Stryker Company 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.