Everhart Financial Group Inc. Purchases 276 Shares of Stryker Co. (NYSE:SYK)

Everhart Financial Group Inc. grew its position in shares of Stryker Co. (NYSE:SYK) by 10.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,954 shares of the medical technology company’s stock after buying an additional 276 shares during the quarter. Everhart Financial Group Inc.’s holdings in Stryker were worth $1,005,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Stryker by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock worth $11,258,373,000 after acquiring an additional 309,592 shares during the last quarter. Greenleaf Trust grew its holdings in shares of Stryker by 0.6% during the first quarter. Greenleaf Trust now owns 18,596,387 shares of the medical technology company’s stock worth $6,655,089,000 after purchasing an additional 108,080 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Stryker by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after buying an additional 642,178 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of 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 buying an additional 813,311 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in Stryker by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 4,686,440 shares of the medical technology company’s stock worth $1,403,401,000 after buying an additional 29,209 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s 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 completion of the transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction 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 directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was 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 disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Stryker Trading Up 0.7 %

Shares of NYSE:SYK traded up $2.57 during mid-day trading on Friday, reaching $353.29. The stock had a trading volume of 960,593 shares, compared to its average volume of 1,306,913. The firm has a market cap of $134.59 billion, a PE ratio of 40.33, a price-to-earnings-growth ratio of 2.61 and a beta of 0.89. The firm has a 50 day simple moving average of $335.90 and a two-hundred day simple moving average of $340.98. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the business posted $2.54 earnings per share. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, research analysts predict that Stryker Co. will post 11.99 EPS for the current fiscal year.

Stryker Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Evercore ISI dropped their target price on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $386.00 price objective on shares of Stryker in a research report on Wednesday, July 31st. The Goldman Sachs Group initiated coverage on Stryker in a research report on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price objective on the stock. Needham & Company LLC boosted their target price on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Truist Financial cut 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. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $373.11.

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.