Rathbones Group PLC Grows Stake in Stryker Co. (NYSE:SYK)

Rathbones Group PLC raised its stake in Stryker Co. (NYSE:SYK) by 2.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,045 shares of the medical technology company’s stock after purchasing an additional 691 shares during the quarter. Rathbones Group PLC’s holdings in Stryker were worth $8,522,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Burkett Financial Services LLC acquired a new stake in shares of Stryker during the fourth quarter valued at about $25,000. DSM Capital Partners LLC acquired a new stake in shares of Stryker during the fourth quarter valued at about $34,000. Central Pacific Bank Trust Division acquired a new stake in shares of Stryker during the first quarter valued at about $39,000. Accent Capital Management LLC acquired a new stake in shares of Stryker during the fourth quarter valued at about $60,000. Finally, Sachetta LLC acquired a new stake in shares of Stryker during the fourth quarter valued at about $62,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Performance

SYK opened at $370.25 on Monday. The business’s 50 day moving average is $342.26 and its 200-day moving average is $342.37. The stock has a market cap of $141.09 billion, a PE ratio of 42.27, a price-to-earnings-growth ratio of 2.84 and a beta of 0.91. 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 Co. has a twelve month low of $249.98 and a twelve month high of $374.24.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. The company had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.54 earnings per share. On average, analysts predict that Stryker Co. will post 12 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently announced 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 is Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.86%. Stryker’s payout ratio is 36.53%.

Analyst Upgrades and Downgrades

SYK has been the subject of several recent analyst reports. The Goldman Sachs Group initiated coverage on Stryker in a research note on Thursday, May 30th. They set a “neutral” rating and a $372.00 target price for the company. Needham & Company LLC lifted their price target on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Truist Financial decreased their price target on Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Evercore ISI decreased their price target on Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Finally, Barclays lifted their price target on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $378.58.

Insider Buying and Selling

In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the sale, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the sale, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the sale, the director now directly owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The disclosure for this sale can be found here. Insiders have sold a total of 210,600 shares of company stock valued at $68,330,400 over the last quarter. Corporate 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.