Inscription Capital LLC Buys New Position in Stryker Co. (NYSE:SYK)

Inscription Capital LLC purchased a new stake in Stryker Co. (NYSE:SYK) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,383 shares of the medical technology company’s stock, valued at approximately $619,000.

A number of other institutional investors have also made changes to their positions in the stock. Bank of New York Mellon Corp grew its holdings in Stryker by 0.8% in the 1st quarter. Bank of New York Mellon Corp now owns 7,389,290 shares of the medical technology company’s stock valued at $1,799,885,000 after buying an additional 58,099 shares during the last quarter. FMR LLC grew its stake in shares of Stryker by 1.6% during the second quarter. FMR LLC now owns 4,685,927 shares of the medical technology company’s stock worth $1,217,076,000 after purchasing an additional 75,772 shares during the period. Morgan Stanley grew its stake in Stryker by 7.2% in the first quarter. Morgan Stanley now owns 3,220,919 shares of the medical technology company’s stock valued at $784,551,000 after acquiring an additional 216,709 shares during the period. Fisher Asset Management LLC boosted its position in shares of Stryker by 4.9% during the second quarter. Fisher Asset Management LLC now owns 2,839,709 shares of the medical technology company’s stock worth $737,558,000 after buying an additional 133,531 shares during the period. Finally, WCM Investment Management LLC raised its holdings in Stryker by 26.4% during the second quarter. WCM Investment Management LLC now owns 2,721,652 shares of the medical technology company’s stock worth $706,895,000 after acquiring an additional 568,957 shares in the last quarter. 72.58% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Ronda E. Stryker sold 150,000 shares of the stock in a transaction on Friday, August 6th. The stock was sold at an average price of $262.26, for a total value of $39,339,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert S. Fletcher sold 1,120 shares of the stock in a transaction dated Thursday, August 5th. The stock was sold at an average price of $261.10, for a total value of $292,432.00. Following the completion of the sale, the vice president now directly owns 4,533 shares of the company’s stock, valued at $1,183,566.30. The disclosure for this sale can be found here. 6.70% of the stock is owned by corporate insiders.

Several brokerages recently issued reports on SYK. Oppenheimer raised their target price on Stryker from $273.00 to $288.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 28th. Citigroup boosted their target price on shares of Stryker from $303.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. Zacks Investment Research cut shares of Stryker from a “hold” rating to a “sell” rating and set a $286.00 target price on the stock. in a report on Tuesday, September 28th. Truist Securities upped their target price on shares of Stryker from $250.00 to $275.00 and gave the stock a “hold” rating in a research report on Wednesday, July 28th. Finally, Morgan Stanley upped their price target on shares of Stryker from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, July 28th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Stryker presently has an average rating of “Buy” and a consensus price target of $287.13.

NYSE:SYK opened at $256.50 on Thursday. The firm has a market cap of $96.73 billion, a price-to-earnings ratio of 46.98, a price-to-earnings-growth ratio of 3.08 and a beta of 0.98. Stryker Co. has a 1-year low of $196.09 and a 1-year high of $281.16. The firm’s fifty day moving average price is $268.65 and its 200 day moving average price is $261.19. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.12 and a quick ratio of 1.32.

Stryker (NYSE:SYK) last released its quarterly earnings results on Monday, July 26th. The medical technology company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.13. Stryker had a return on equity of 26.08% and a net margin of 12.82%. The business had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the previous year, the company posted $0.64 EPS. The business’s revenue was up 55.4% on a year-over-year basis. As a group, analysts expect that Stryker Co. will post 9.35 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 29th. Stockholders of record on Thursday, September 30th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Wednesday, September 29th. Stryker’s payout ratio is currently 33.92%.

Stryker Company Profile

Stryker Corp. engages in the provision of medical technology products and services. It operates through the following segments: Orthopaedics, MedSurg, and Neurotechnology & Spine. The Orthopaedics segment provides reconstructive and trauma implant systems. The MedSurg segment deals with surgical equipment and navigation systems, endoscopy, patient handling and reprocessed medical devices.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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