North Star Asset Management Inc. Boosts Holdings in Stryker Co. (NYSE:SYK)

North Star Asset Management Inc. raised its holdings in shares of Stryker Co. (NYSE:SYK) by 0.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,177 shares of the medical technology company’s stock after acquiring an additional 305 shares during the quarter. Stryker makes up 1.6% of North Star Asset Management Inc.’s investment portfolio, making the stock its 14th largest position. North Star Asset Management Inc.’s holdings in Stryker were worth $33,745,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SYK shares. Morgan Stanley boosted their target price on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Truist Financial reduced their price target on shares of Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $386.00 price target on shares of Stryker in a research report on Wednesday, July 31st. UBS Group lifted their price target on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, Evercore ISI reduced their price target on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $377.11.

Stryker Trading Up 0.3 %

SYK opened at $358.92 on Friday. The stock has a market capitalization of $136.78 billion, a PE ratio of 40.97, a P/E/G ratio of 2.78 and a beta of 0.91. The firm’s fifty day moving average price is $339.06 and its 200 day moving average price is $341.98. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $364.36.

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

Stryker Dividend Announcement

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 dividend of $0.80 per share. The ex-dividend date is Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.89%. Stryker’s payout ratio is 36.53%.

Insider Buying and Selling at Stryker

In other Stryker news, insider Viju Menon sold 600 shares of the business’s stock in a transaction on 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 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 can be accessed through the SEC website. In other news, insider Viju Menon sold 600 shares of the company’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 $3,219,495. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at approximately $949,716. The disclosure for this sale can be found here. Insiders sold a total of 210,600 shares of company stock worth $68,330,400 over the last 90 days. Insiders own 5.90% of the company’s stock.

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.