National Asset Management Inc. grew its holdings in shares of Stryker Co. (NYSE:SYK) by 8.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,867 shares of the medical technology company’s stock after buying an additional 1,434 shares during the quarter. National Asset Management Inc.’s holdings in Stryker were worth $4,887,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. RE Advisers Corp purchased a new stake in shares of Stryker during the 2nd quarter valued at about $34,000. Magellan Asset Management Ltd purchased a new stake in shares of Stryker during the 1st quarter valued at about $35,000. Eagle Bay Advisors LLC purchased a new stake in shares of Stryker during the 2nd quarter valued at about $43,000. Newfound Research LLC bought a new position in Stryker during the 2nd quarter valued at about $44,000. Finally, Evolution Wealth Advisors LLC grew its holdings in Stryker by 50.4% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 182 shares of the medical technology company’s stock valued at $47,000 after purchasing an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 72.58% of the company’s stock.
Shares of NYSE SYK traded up $1.16 during midday trading on Wednesday, reaching $276.42. The company had a trading volume of 5,508 shares, compared to its average volume of 1,168,294. The business’s 50-day simple moving average is $266.69 and its 200 day simple moving average is $256.91. The stock has a market cap of $104.24 billion, a P/E ratio of 50.41, a P/E/G 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 company has a current ratio of 2.12, a quick ratio of 1.32 and a debt-to-equity ratio of 0.92.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 29th. Stockholders of record on Thursday, September 30th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Wednesday, September 29th. Stryker’s dividend payout ratio is currently 33.92%.
In related news, VP Robert S. Fletcher sold 1,120 shares of Stryker stock in a transaction that occurred on Thursday, August 5th. The shares were sold at an average price of $261.10, for a total value of $292,432.00. Following the completion of the transaction, the vice president now owns 4,533 shares in the company, valued at $1,183,566.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronda E. Stryker sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, August 6th. The stock was sold at an average price of $262.26, for a total transaction of $39,339,000.00. The disclosure for this sale can be found here. Company insiders own 6.70% of the company’s stock.
Several brokerages recently commented on SYK. Oppenheimer upped their price target on shares of Stryker from $273.00 to $288.00 and gave the company a “market perform” rating in a report on Wednesday, July 28th. 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 report on Wednesday, July 28th. Truist upped their price target on shares of Stryker from $250.00 to $275.00 and gave the company a “hold” rating in a report on Wednesday, July 28th. Robert W. Baird upped their price target on shares of Stryker from $292.00 to $305.00 and gave the company an “outperform” rating in a report on Wednesday, July 28th. Finally, Canaccord Genuity upped their target price on shares of Stryker from $285.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, July 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Stryker has an average rating of “Buy” and an average target price of $287.18.
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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