SeaBridge Investment Advisors LLC Buys 226 Shares of Stryker Co. (NYSE:SYK)

SeaBridge Investment Advisors LLC lifted its stake in Stryker Co. (NYSE:SYK) by 3.7% in the 1st quarter, HoldingsChannel reports. The firm owned 6,287 shares of the medical technology company’s stock after buying an additional 226 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in Stryker were worth $2,250,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of SYK. Norges Bank purchased a new position in Stryker during the fourth quarter valued at $1,260,562,000. Global Assets Advisory LLC purchased a new position in Stryker during the 1st quarter valued at about $341,049,000. Price T Rowe Associates Inc. MD boosted its stake in Stryker by 5.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock worth $3,755,782,000 after acquiring an additional 642,178 shares in the last quarter. Confluence Investment Management LLC purchased a new stake in Stryker in the first quarter worth about $93,369,000. Finally, Morgan Stanley increased its stake in shares of Stryker by 4.4% during the third quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock valued at $1,452,493,000 after purchasing an additional 223,728 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of SYK stock traded up $5.23 on Friday, reaching $337.25. The stock had a trading volume of 1,007,797 shares, compared to its average volume of 1,299,214. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.71. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $361.41. The stock has a market cap of $128.48 billion, a P/E ratio of 38.39, a price-to-earnings-growth ratio of 2.61 and a beta of 0.89. The company has a 50 day simple moving average of $337.35 and a 200 day simple moving average of $334.46.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.10 billion. During the same period last year, the firm posted $2.14 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities research analysts expect that Stryker Co. will post 11.95 EPS for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a dividend of $0.80 per share. The ex-dividend date is Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a yield of 0.95%. Stryker’s dividend payout ratio is currently 36.53%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SYK. Robert W. Baird boosted their price target on Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a report on Wednesday. Piper Sandler lifted their price target on Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. UBS Group increased their price objective on shares of Stryker from $339.00 to $351.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Finally, BTIG Research lifted their target price on shares of Stryker from $366.00 to $369.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $370.32.

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.