Plato Investment Management Ltd Buys 406 Shares of Stryker Co. (NYSE:SYK)

Plato Investment Management Ltd grew its stake in shares of Stryker Co. (NYSE:SYK) by 3.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,164 shares of the medical technology company’s stock after buying an additional 406 shares during the period. Plato Investment Management Ltd’s holdings in Stryker were worth $4,139,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SYK. Precision Wealth Strategies LLC raised its position in shares of Stryker by 2.1% during the 4th quarter. Precision Wealth Strategies LLC now owns 3,114 shares of the medical technology company’s stock valued at $933,000 after purchasing an additional 65 shares during the period. Gryphon Financial Partners LLC bought a new stake in Stryker during the fourth quarter valued at about $348,000. Foundations Investment Advisors LLC lifted its position in shares of Stryker by 2.3% in the fourth quarter. Foundations Investment Advisors LLC now owns 1,611 shares of the medical technology company’s stock valued at $482,000 after acquiring an additional 36 shares in the last quarter. Meridian Wealth Management LLC grew its position in shares of Stryker by 34.1% during the fourth quarter. Meridian Wealth Management LLC now owns 2,269 shares of the medical technology company’s stock worth $679,000 after purchasing an additional 577 shares in the last quarter. Finally, Private Wealth Management Group LLC bought a new stake in Stryker during the 4th quarter valued at approximately $40,000. 77.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of research analyst reports. The Goldman Sachs Group initiated coverage on shares of Stryker in a report on Thursday, May 30th. They set a “neutral” rating and a $372.00 price objective for the company. Stifel Nicolaus reduced their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Needham & Company LLC increased their price objective on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Morgan Stanley lifted their target price on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Finally, Piper Sandler reissued an “overweight” rating and set a $380.00 price target on shares of Stryker in a research note on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $378.58.

Stryker Stock Performance

Stryker stock opened at $370.25 on Friday. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $374.24. The company’s 50-day moving average is $342.26 and its 200 day moving average is $342.44. The firm has a market capitalization of $141.09 billion, a P/E ratio of 42.27, 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 current ratio of 1.68 and a quick ratio of 0.95.

Stryker (NYSE:SYK) last issued its quarterly earnings results 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. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the company earned $2.54 EPS. Stryker’s quarterly revenue was up 8.5% compared to the same quarter last year. Research analysts forecast that Stryker Co. will post 12 EPS for the current year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.86%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio is presently 36.53%.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were 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 of the company’s stock, valued at $1,072,790,023.68. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction 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 owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. The disclosure for this sale can be found here. Insiders sold a total of 210,600 shares of company stock valued at $68,330,400 in the last three months. Company insiders own 5.90% of the company’s stock.

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.