Connors Investor Services Inc. Raises Stock Position in Stryker Co. (NYSE:SYK)

Connors Investor Services Inc. raised its position in Stryker Co. (NYSE:SYK) by 45.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,469 shares of the medical technology company’s stock after buying an additional 12,073 shares during the quarter. Connors Investor Services Inc.’s holdings in Stryker were worth $13,089,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of SYK. Precision Wealth Strategies LLC raised its stake in Stryker by 2.1% during the 4th quarter. Precision Wealth Strategies LLC now owns 3,114 shares of the medical technology company’s stock valued at $933,000 after acquiring an additional 65 shares during the last quarter. Gryphon Financial Partners LLC acquired a new stake in shares of Stryker in the fourth quarter valued at about $348,000. Level Four Advisory Services LLC grew its holdings in shares of Stryker by 31.0% in the 4th quarter. Level Four Advisory Services LLC now owns 1,204 shares of the medical technology company’s stock worth $361,000 after acquiring an additional 285 shares during the period. TrinityPoint Wealth LLC increased its stake in Stryker by 2.5% in the 4th quarter. TrinityPoint Wealth LLC now owns 2,841 shares of the medical technology company’s stock valued at $851,000 after purchasing an additional 70 shares in the last quarter. Finally, UBS Group AG boosted its position in Stryker by 23.8% during the fourth quarter. UBS Group AG now owns 896,999 shares of the medical technology company’s stock worth $268,615,000 after purchasing an additional 172,391 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Stryker

In other Stryker news, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the sale, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Stryker news, insider Viju Menon sold 600 shares of the company’s stock in a transaction dated 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 approximately $3,219,495. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the transaction, the director now owns 3,316,608 shares of the company’s stock, 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 worth $68,330,400 over the last ninety days. 5.90% of the stock is currently owned by corporate insiders.

Stryker Stock Performance

Shares of SYK opened at $371.97 on Tuesday. The firm has a fifty day moving average of $343.03 and a 200-day moving average of $342.53. The company has a market cap of $141.70 billion, a price-to-earnings ratio of 42.46, a price-to-earnings-growth ratio of 2.84 and a beta of 0.91. 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 $374.63.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.79 by $0.02. The company 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%. Stryker’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.54 earnings per share. As a group, equities analysts anticipate that Stryker Co. will post 12 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is 36.53%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SYK. UBS Group increased their price objective on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Needham & Company LLC lifted their price objective on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Piper Sandler reiterated an “overweight” rating and set a $380.00 target price on shares of Stryker in a report on Tuesday, September 10th. Stifel Nicolaus cut their price target on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $386.00 price objective on shares of Stryker in a research note on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $378.58.

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.