SeaBridge Investment Advisors LLC Has $2.21 Million Stock Holdings in Stryker Co. (NYSE:SYK)

SeaBridge Investment Advisors LLC lifted its position in Stryker Co. (NYSE:SYK) by 3.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,500 shares of the medical technology company’s stock after purchasing an additional 213 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in Stryker were worth $2,212,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Burkett Financial Services LLC bought a new position in shares of Stryker in the fourth quarter valued at approximately $25,000. Central Pacific Bank Trust Division acquired a new position in Stryker in the first quarter worth $39,000. DSM Capital Partners LLC bought a new stake in shares of Stryker during the fourth quarter worth $34,000. Private Wealth Management Group LLC acquired a new stake in shares of Stryker in the fourth quarter valued at $40,000. Finally, Rational Advisors LLC bought a new position in shares of Stryker in the first quarter valued at about $64,000. 77.09% of the stock is owned by institutional investors.

Stryker Stock Up 0.7 %

SYK stock traded up $2.49 during mid-day trading on Friday, hitting $360.42. 1,307,583 shares of the company were exchanged, compared to its average volume of 1,185,878. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41. The firm’s 50 day simple moving average is $337.13 and its 200 day simple moving average is $341.57. The firm has a market cap of $137.35 billion, a P/E ratio of 41.14, a P/E/G ratio of 2.78 and a beta of 0.89.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the business posted $2.54 earnings per share. On average, sell-side analysts predict that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed 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 of this dividend is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.89%. Stryker’s payout ratio is presently 36.53%.

Wall Street Analyst Weigh In

SYK has been the subject of several research reports. Stifel Nicolaus lowered their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Needham & Company LLC upped their price objective on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. Morgan Stanley raised their price target on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Finally, Truist Financial dropped their price objective on Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a report 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $373.84.

Insider Activity at Stryker

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Stryker 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 transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Viju Menon sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The disclosure for this sale can be found here. In the last quarter, insiders have sold 210,600 shares of company stock valued at $68,330,400. 5.90% of the stock is owned by insiders.

About Stryker

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.