North Star Asset Management Inc. bought a new position in shares of Stryker Corporation (NYSE:SYK – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 105,188 shares of the medical technology company’s stock, valued at approximately $33,118,000. Stryker accounts for about 1.3% of North Star Asset Management Inc.’s portfolio, making the stock its 20th biggest holding.
Other hedge funds have also recently bought and sold shares of the company. State Street Corp raised its holdings in Stryker by 2.1% in the 4th quarter. State Street Corp now owns 15,254,407 shares of the medical technology company’s stock valued at $5,374,731,000 after acquiring an additional 311,507 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Stryker by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 7,535,572 shares of the medical technology company’s stock worth $2,636,238,000 after purchasing an additional 69,851 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Stryker by 22.6% during the 4th quarter. Wellington Management Group LLP now owns 6,493,276 shares of the medical technology company’s stock worth $2,282,192,000 after purchasing an additional 1,198,665 shares in the last quarter. Norges Bank bought a new stake in shares of Stryker during the fourth quarter valued at approximately $1,822,272,000. Finally, Bank of America Corp DE acquired a new position in shares of Stryker in the second quarter valued at $1,404,284,000. 77.09% of the stock is owned by institutional investors.
Stryker Trading Down 2.3%
Shares of NYSE SYK opened at $322.20 on Friday. Stryker Corporation has a 1-year low of $281.00 and a 1-year high of $396.86. The company 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 company has a current ratio of 2.16, a quick ratio of 1.33 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average of $328.64 and a two-hundred day moving average of $331.47.
Stryker Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, September 30th. Stryker’s dividend payout ratio is currently 36.48%.
Insider Buying and Selling at Stryker
In other news, Director Ronda E. Stryker sold 300,000 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $335.90, for a total value of $100,770,000.00. Following the transaction, the director owned 2,301,375 shares of the company’s stock, valued at $773,031,862.50. This represents a 11.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Debra King sold 826 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total value of $277,783.80. Following the completion of the transaction, the insider directly owned 6,210 shares in the company, valued at $2,088,423. The trade was a 11.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 351,267 shares of company stock valued at $118,197,701. 4.60% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
SYK has been the subject of a number of recent research reports. Truist Financial increased their price objective on shares of Stryker from $330.00 to $340.00 and gave the company a “hold” rating in a research note on Friday, July 31st. Citizens Jmp decreased their target price on shares of Stryker from $440.00 to $400.00 and set a “market outperform” rating on the stock in a research report on Monday, August 3rd. The Goldman Sachs Group reissued a “neutral” rating and issued a $361.00 target price on shares of Stryker in a research note on Friday, May 1st. UBS Group initiated coverage on shares of Stryker in a research report on Tuesday, July 28th. They issued a “buy” rating and a $400.00 price target for the company. Finally, Piper Sandler lowered their price objective on Stryker from $420.00 to $390.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $386.28.
Check Out Our Latest Stock Report on SYK
Stryker Company 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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