Kowal Investment Group LLC Purchases 84 Shares of Stryker Co. (NYSE:SYK)

Kowal Investment Group LLC lifted its stake in shares of Stryker Co. (NYSE:SYK) by 12.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 777 shares of the medical technology company’s stock after acquiring an additional 84 shares during the quarter. Kowal Investment Group LLC’s holdings in Stryker were worth $281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in SYK. SPC Financial Inc. grew its stake in Stryker by 4.7% during the third quarter. SPC Financial Inc. now owns 1,043 shares of the medical technology company’s stock worth $377,000 after purchasing an additional 47 shares during the period. AAFMAA Wealth Management & Trust LLC grew its stake in Stryker by 12.8% during the third quarter. AAFMAA Wealth Management & Trust LLC now owns 7,414 shares of the medical technology company’s stock worth $2,678,000 after purchasing an additional 841 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO grew its stake in Stryker by 444.0% during the third quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 6,093 shares of the medical technology company’s stock worth $2,201,000 after purchasing an additional 4,973 shares during the period. Fulton Breakefield Broenniman LLC grew its stake in Stryker by 997.4% during the third quarter. Fulton Breakefield Broenniman LLC now owns 35,523 shares of the medical technology company’s stock worth $12,833,000 after purchasing an additional 32,286 shares during the period. Finally, Carderock Capital Management Inc. grew its stake in Stryker by 13.4% during the third quarter. Carderock Capital Management Inc. now owns 21,316 shares of the medical technology company’s stock worth $7,701,000 after purchasing an additional 2,514 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SYK has been the subject of several recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $380.00 target price on shares of Stryker in a research note on Tuesday, September 10th. Truist Financial raised their price objective on Stryker from $345.00 to $370.00 and gave the company a “hold” rating in a research note on Monday. Evercore ISI raised their price objective on Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Morgan Stanley raised their price objective on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Finally, UBS Group raised their price objective on Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average price target of $381.16.

Insider Buying and Selling

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 stock was 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 in the company, valued at $949,716. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 stock was 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 in the company, valued at $949,716. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,068 shares of company stock worth $71,811,372. 5.90% of the stock is owned by company insiders.

Stryker Stock Performance

Shares of Stryker stock opened at $359.76 on Friday. The business’s fifty day simple moving average is $354.96 and its 200 day simple moving average is $343.20. The firm has a market capitalization of $137.05 billion, a P/E ratio of 41.07, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. Stryker Co. has a 12 month low of $255.22 and a 12 month high of $374.63. 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 (NYSE:SYK) last issued its quarterly earnings results 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. The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. Stryker’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company posted $2.54 earnings per share. As a group, analysts anticipate that Stryker Co. will post 12 EPS for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.89%. Stryker’s dividend payout ratio (DPR) is currently 36.53%.

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.