Stryker Co. (NYSE:SYK) Holdings Boosted by Cranbrook Wealth Management LLC

Cranbrook Wealth Management LLC lifted its stake in Stryker Co. (NYSE:SYK) by 362.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,448 shares of the medical technology company’s stock after purchasing an additional 2,702 shares during the quarter. Cranbrook Wealth Management LLC’s holdings in Stryker were worth $1,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the stock. Precision Wealth Strategies LLC boosted its holdings in Stryker by 2.1% in the fourth quarter. Precision Wealth Strategies LLC now owns 3,114 shares of the medical technology company’s stock worth $933,000 after purchasing an additional 65 shares in the last quarter. Gryphon Financial Partners LLC bought a new position in Stryker in the 4th quarter worth approximately $348,000. Level Four Advisory Services LLC boosted its holdings in Stryker by 31.0% in the 4th quarter. Level Four Advisory Services LLC now owns 1,204 shares of the medical technology company’s stock valued at $361,000 after purchasing an additional 285 shares during the period. TrinityPoint Wealth LLC lifted its stake in shares of Stryker by 2.5% in the fourth quarter. TrinityPoint Wealth LLC now owns 2,841 shares of the medical technology company’s stock valued at $851,000 after buying an additional 70 shares during the period. Finally, UBS Group AG grew its holdings in shares of Stryker by 23.8% during the 4th quarter. UBS Group AG now owns 896,999 shares of the medical technology company’s stock worth $268,615,000 after purchasing an additional 172,391 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Price Performance

NYSE SYK opened at $371.97 on Tuesday. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $374.63. The company has a market cap of $141.70 billion, a PE ratio of 42.46, a price-to-earnings-growth ratio of 2.84 and a beta of 0.91. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. The firm’s 50-day simple moving average is $343.03 and its two-hundred day simple moving average is $342.53.

Stryker (NYSE:SYK) last issued 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 company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.54 earnings per share. Research analysts predict that Stryker Co. will post 12 earnings per share for the current year.

Stryker Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on SYK shares. Royal Bank of Canada reissued an “outperform” rating and issued a $386.00 target price on shares of Stryker in a report on Wednesday, July 31st. StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a research note on Monday. Needham & Company LLC lifted their price objective on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. The Goldman Sachs Group assumed coverage on shares of Stryker in a research note on Thursday, May 30th. They set a “neutral” rating and a $372.00 price objective on the stock. Finally, Truist Financial cut their price objective 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. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and an average target price of $378.58.

Insiders Place Their Bets

In other Stryker 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 transaction 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 approximately $949,716. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction 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 sale, the chief financial officer now owns 2,852 shares of the company’s stock, valued at approximately $949,716. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Viju Menon sold 600 shares of the company’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 transaction of $213,000.00. Following the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The disclosure for this sale can be found here. Insiders have sold 210,600 shares of company stock valued at $68,330,400 in the last ninety days. Company insiders own 5.90% of the company’s stock.

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.