Lowe Brockenbrough & Co. Inc. Buys 133 Shares of Stryker Co. (NYSE:SYK)

Lowe Brockenbrough & Co. Inc. increased its position in Stryker Co. (NYSE:SYK) by 4.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,858 shares of the medical technology company’s stock after acquiring an additional 133 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in Stryker were worth $1,035,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kovack Advisors Inc. purchased a new position in Stryker in the first quarter worth about $224,000. Norden Group LLC bought a new stake in Stryker during the first quarter valued at about $280,000. Private Advisor Group LLC lifted its holdings in Stryker by 4.4% in the 1st quarter. Private Advisor Group LLC now owns 15,310 shares of the medical technology company’s stock worth $5,479,000 after purchasing an additional 652 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Stryker by 3.5% during the first quarter. Janney Montgomery Scott LLC now owns 69,981 shares of the medical technology company’s stock worth $25,044,000 after acquiring an additional 2,343 shares during the last quarter. Finally, Fidelis Capital Partners LLC increased its holdings in shares of Stryker by 8.2% in the first quarter. Fidelis Capital Partners LLC now owns 2,098 shares of the medical technology company’s stock worth $751,000 after purchasing an additional 159 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Stryker Stock Performance

Stryker stock opened at $367.15 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 0.95. The firm’s fifty day moving average price is $360.18 and its 200 day moving average price is $344.31. The company has a market capitalization of $139.96 billion, a price-to-earnings ratio of 39.35, a price-to-earnings-growth ratio of 2.69 and a beta of 0.91. Stryker Co. has a 12-month low of $266.93 and a 12-month high of $374.63.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the previous year, the firm posted $2.46 earnings per share. The company’s revenue was up 11.9% compared to the same quarter last year. On average, research analysts forecast that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend was Monday, September 30th. Stryker’s payout ratio is currently 34.30%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SYK shares. Evercore ISI boosted their target price on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday. Needham & Company LLC raised their price target on Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a research note on Wednesday. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Piper Sandler restated an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a report on Wednesday. Finally, Royal Bank of Canada boosted their target price on Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $393.65.

Insiders Place Their Bets

In related news, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the transaction, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Stryker news, insider Viju Menon sold 600 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 transaction of $784,770.00. Following the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 200,068 shares of company stock valued at $65,151,372 in the last quarter. Insiders own 5.90% of the company’s stock.

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.