Keel Point LLC Has $4 Million Holdings in Stryker Co. (NYSE:SYK)

Keel Point LLC trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 7.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,095 shares of the medical technology company’s stock after selling 1,071 shares during the quarter. Keel Point LLC’s holdings in Stryker were worth $3,995,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vinva Investment Management Ltd bought a new stake in Stryker during the first quarter valued at about $3,257,000. Stifel Financial Corp lifted its holdings in shares of Stryker by 0.7% during the first quarter. Stifel Financial Corp now owns 400,767 shares of the medical technology company’s stock worth $114,412,000 after buying an additional 2,868 shares during the last quarter. Coastal Investment Advisors Inc. bought a new stake in shares of Stryker in the fourth quarter valued at approximately $271,000. Maryland State Retirement & Pension System increased its position in Stryker by 0.6% during the first quarter. Maryland State Retirement & Pension System now owns 27,814 shares of the medical technology company’s stock worth $7,940,000 after acquiring an additional 164 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. raised its stake in Stryker by 28.6% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,451 shares of the medical technology company’s stock valued at $1,271,000 after purchasing an additional 990 shares during the last quarter. 76.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Barclays boosted their price objective on shares of Stryker from $321.00 to $335.00 and gave the stock an “overweight” rating in a report on Monday, August 7th. Morgan Stanley raised their price objective on Stryker from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Monday, August 7th. Argus boosted their price objective on Stryker from $285.00 to $310.00 in a research report on Thursday, May 25th. BTIG Research lifted their price target on shares of Stryker from $313.00 to $331.00 in a research note on Monday, July 17th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $325.00 price objective on shares of Stryker in a research note on Thursday, August 17th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $309.59.

Stryker Trading Down 0.6 %

SYK stock traded down $1.72 during midday trading on Tuesday, reaching $291.50. The company’s stock had a trading volume of 130,763 shares, compared to its average volume of 1,293,638. The business’s 50-day simple moving average is $286.90 and its 200-day simple moving average is $285.91. The company has a quick ratio of 0.84, a current ratio of 1.54 and a debt-to-equity ratio of 0.64. Stryker Co. has a 52 week low of $200.80 and a 52 week high of $306.93. The stock has a market cap of $110.71 billion, a PE ratio of 41.42, a price-to-earnings-growth ratio of 2.83 and a beta of 0.95.

Stryker (NYSE:SYK) last posted its earnings results on Thursday, August 3rd. The medical technology company reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.16. Stryker had a net margin of 13.92% and a return on equity of 22.31%. The company had revenue of $5 billion for the quarter, compared to analyst estimates of $4.83 billion. During the same period last year, the business posted $2.25 earnings per share. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, sell-side analysts expect that Stryker Co. will post 10.37 EPS for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $3.00 annualized dividend and a dividend yield of 1.03%. Stryker’s dividend payout ratio (DPR) is currently 42.37%.

Insider Transactions at Stryker

In related news, insider Viju Menon sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $289.00, for a total value of $1,445,000.00. Following the completion of the transaction, the insider now directly owns 6,994 shares in the company, valued at approximately $2,021,266. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.90% of the stock is currently 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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.