Clearstead Trust LLC Buys 427 Shares of Stryker Co. (NYSE:SYK)

Clearstead Trust LLC raised its stake in shares of Stryker Co. (NYSE:SYK) by 3.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 12,686 shares of the medical technology company’s stock after acquiring an additional 427 shares during the period. Stryker accounts for about 1.1% of Clearstead Trust LLC’s portfolio, making the stock its 19th biggest position. Clearstead Trust LLC’s holdings in Stryker were worth $4,317,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Koshinski Asset Management Inc. purchased a new position in Stryker during the first quarter worth about $795,000. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Stryker by 43.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock worth $6,617,000 after buying an additional 5,565 shares during the last quarter. Norden Group LLC bought a new position in shares of Stryker in the first quarter valued at approximately $4,027,000. International Assets Investment Management LLC purchased a new stake in shares of Stryker during the first quarter valued at approximately $21,970,000. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Stryker by 38.5% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock worth $7,084,000 after acquiring an additional 5,502 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Stryker

In related news, insider Viju Menon sold 600 shares of Stryker stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. The sale was disclosed in a filing with the SEC, 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 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 transaction, the director now directly owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were 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 of the company’s stock, valued at approximately $3,219,495. The disclosure for this sale can be found here. In the last ninety days, insiders sold 210,600 shares of company stock worth $68,330,400. 5.90% of the stock is currently owned by insiders.

Stryker Stock Performance

Stryker stock opened at $371.97 on Tuesday. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $374.63. The firm’s fifty day moving average price is $343.03 and its 200-day moving average price is $342.53. The stock 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. 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 posted its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. The firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the business earned $2.54 EPS. On average, equities research analysts expect that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Dividend Announcement

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 paid a dividend of $0.80 per share. 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 presently 36.53%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SYK. Wolfe Research initiated coverage on Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price for the company. Morgan Stanley upped their price objective on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. BTIG Research raised their target price on Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. The Goldman Sachs Group initiated coverage on Stryker in a research report on Thursday, May 30th. They set a “neutral” rating and a $372.00 price target on the stock. Finally, Truist Financial decreased their price objective on Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and an average price target of $378.58.

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.