SteelPeak Wealth LLC Purchases 54 Shares of Stryker Co. (NYSE:SYK)

SteelPeak Wealth LLC boosted its position in Stryker Co. (NYSE:SYK) by 7.3% during the third quarter, HoldingsChannel.com reports. The fund owned 796 shares of the medical technology company’s stock after buying an additional 54 shares during the quarter. SteelPeak Wealth LLC’s holdings in Stryker were worth $288,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Stryker by 1.0% in the first quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock valued at $11,258,373,000 after acquiring an additional 309,592 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Stryker by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after acquiring an additional 813,311 shares during the last quarter. Clearbridge Investments LLC increased its stake in Stryker by 2.9% in the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock valued at $790,554,000 after acquiring an additional 66,482 shares during the last quarter. TD Asset Management Inc increased its stake in Stryker by 2.9% in the first quarter. TD Asset Management Inc now owns 1,601,380 shares of the medical technology company’s stock valued at $573,086,000 after acquiring an additional 44,765 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Stryker by 4.0% in the second quarter. The Manufacturers Life Insurance Company now owns 1,209,769 shares of the medical technology company’s stock valued at $411,624,000 after acquiring an additional 46,375 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SYK has been the topic of a number of research analyst reports. Morgan Stanley raised their target price on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. Piper Sandler restated an “overweight” rating and issued a $420.00 target price (up previously from $380.00) on shares of Stryker in a research report on Wednesday. Wolfe Research initiated coverage on shares of Stryker in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price on the stock. Finally, Robert W. Baird raised their target price on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Stock Down 2.0 %

Stryker stock opened at $356.28 on Friday. Stryker Co. has a fifty-two week low of $264.85 and a fifty-two week high of $374.63. The stock has a market cap of $135.77 billion, a PE ratio of 38.19, a price-to-earnings-growth ratio of 2.79 and a beta of 0.91. The firm’s 50-day simple moving average is $359.90 and its 200 day simple moving average is $344.06. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.95 and a current ratio of 1.91.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.09. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the previous year, the company earned $2.46 earnings per share. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. Research analysts predict that Stryker Co. will post 12.05 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend was Monday, September 30th. Stryker’s payout ratio is 34.30%.

Insider Buying and Selling at Stryker

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the transaction, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the transaction, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Viju Menon sold 600 shares of the business’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 owns 9,069 shares in the company, valued at approximately $3,219,495. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 200,068 shares of company stock worth $65,151,372 over the last three months. 5.90% of the stock is currently owned by insiders.

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.