Lynch & Associates IN Acquires 858 Shares of Stryker Co. (NYSE:SYK)

Lynch & Associates IN increased its stake in shares of Stryker Co. (NYSE:SYK) by 4.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,209 shares of the medical technology company’s stock after acquiring an additional 858 shares during the quarter. Stryker comprises approximately 1.4% of Lynch & Associates IN’s holdings, making the stock its 23rd largest holding. Lynch & Associates IN’s holdings in Stryker were worth $6,195,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Stryker during the 4th quarter worth about $1,561,000. Koshinski Asset Management Inc. bought a new position in Stryker during the first quarter valued at about $795,000. Envestnet Portfolio Solutions Inc. raised its holdings in Stryker by 43.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock valued at $6,617,000 after acquiring an additional 5,565 shares in the last quarter. Norden Group LLC bought a new stake in shares of Stryker in the 1st quarter worth approximately $4,027,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Stryker during the 1st quarter worth approximately $21,970,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SYK has been the subject of several research reports. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. Barclays lifted their target price on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Truist Financial dropped their price target on shares of Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Stifel Nicolaus cut their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, BTIG Research upped their price objective on Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $377.11.

Stryker Price Performance

Stryker stock opened at $358.92 on Friday. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $364.36. The firm has a market cap of $136.73 billion, a P/E ratio of 40.97, a P/E/G ratio of 2.78 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. The business’s fifty day moving average is $339.06 and its two-hundred day moving average is $341.94.

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

Stryker Dividend Announcement

The business also recently disclosed 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 yield of 0.89%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Insiders Place Their Bets

In other news, insider Viju Menon sold 600 shares of the business’s stock in a transaction 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 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 filing with the SEC, which is available at this hyperlink. In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Viju Menon sold 600 shares of the company’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 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 quarter, insiders have sold 210,600 shares of company stock valued at $68,330,400. 5.90% of the stock is currently owned by corporate insiders.

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.