Brasada Capital Management LP acquired a new stake in Stryker Corporation (NYSE:SYK – Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,330 shares of the medical technology company’s stock, valued at approximately $734,000.
A number of other institutional investors also recently modified their holdings of SYK. Brighton Jones LLC boosted its position in shares of Stryker by 15.4% during the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock worth $1,643,000 after purchasing an additional 609 shares in the last quarter. Schnieders Capital Management LLC. acquired a new position in Stryker during the 2nd quarter worth approximately $205,000. Marshall Wace LLP boosted its holdings in Stryker by 107.9% in the second quarter. Marshall Wace LLP now owns 5,700 shares of the medical technology company’s stock worth $2,255,000 after acquiring an additional 77,831 shares in the last quarter. Nebula Research & Development LLC acquired a new stake in Stryker in the second quarter valued at approximately $219,000. Finally, HUB Investment Partners LLC bought a new stake in shares of Stryker during the second quarter valued at approximately $253,000. Institutional investors and hedge funds own 77.09% of the company’s stock.
Stryker Stock Performance
SYK stock opened at $322.20 on Friday. The company has a quick ratio of 1.33, a current ratio of 2.16 and a debt-to-equity ratio of 0.59. The firm has a market cap of $123.58 billion, a PE ratio of 33.39, a P/E/G ratio of 2.10 and a beta of 0.76. The business has a 50 day moving average of $328.64 and a 200-day moving average of $331.47. Stryker Corporation has a 12-month low of $281.00 and a 12-month high of $396.86.
Stryker Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be given a dividend of $0.88 per share. The ex-dividend date is Wednesday, September 30th. This represents a $3.52 annualized dividend and a yield of 1.1%. Stryker’s dividend payout ratio is presently 36.48%.
Analyst Ratings Changes
SYK has been the topic of a number of recent research reports. Robert W. Baird set a $385.00 target price on Stryker in a report on Friday, May 1st. Citizens Jmp decreased their price target on shares of Stryker from $440.00 to $400.00 and set a “market outperform” rating for the company in a research note on Monday, August 3rd. Royal Bank Of Canada dropped their price objective on shares of Stryker from $435.00 to $420.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Piper Sandler reduced their price objective on shares of Stryker from $420.00 to $390.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Finally, Wall Street Zen raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and a consensus target price of $386.28.
Check Out Our Latest Stock Report on SYK
Insider Buying and Selling
In other news, insider Debra King sold 826 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $336.30, for a total transaction of $277,783.80. Following the transaction, the insider owned 6,210 shares of the company’s stock, valued at $2,088,423. This represents a 11.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dylan Bram Crotty sold 441 shares of Stryker stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $328.61, for a total value of $144,917.01. Following the completion of the sale, the insider directly owned 6,102 shares of the company’s stock, valued at approximately $2,005,178.22. This trade represents a 6.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 351,267 shares of company stock worth $118,197,701. Insiders own 4.60% of the company’s stock.
Stryker Profile
Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.
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