Stryker Co. (NYSE:SYK) Shares Bought by First Affirmative Financial Network

12 Oct 2024, 19:12 by Michael Walen · The Markets Daily

First Affirmative Financial Network lifted its holdings in shares of Stryker Co. (NYSE:SYK – Free Report) by 160.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,017 shares of the medical technology company’s stock after acquiring an additional 3,088 shares during the quarter. Stryker accounts for about 1.0% of First Affirmative Financial Network’s investment portfolio, making the stock its 13th biggest position. First Affirmative Financial Network’s holdings in Stryker were worth $1,813,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Harbor Investment Advisory LLC grew its holdings in Stryker by 0.4% during the 1st quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock worth $2,499,000 after acquiring an additional 31 shares in the last quarter. Proficio Capital Partners LLC grew its stake in Stryker by 2.4% in the first quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock worth $507,000 after purchasing an additional 33 shares in the last quarter. Versant Capital Management Inc increased its holdings in Stryker by 4.0% in the second quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock valued at $294,000 after buying an additional 33 shares during the last quarter. Stanley Laman Group Ltd. raised its stake in Stryker by 4.6% during the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock valued at $256,000 after buying an additional 33 shares in the last quarter. Finally, Plimoth Trust Co. LLC lifted its holdings in Stryker by 0.3% during the 2nd quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock worth $3,224,000 after buying an additional 33 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Performance

SYK stock opened at $355.52 on Friday. The company has a 50-day simple moving average of $351.84 and a 200 day simple moving average of $343.10. The company has a market capitalization of $135.48 billion, a P/E ratio of 39.63, a PEG ratio of 2.73 and a beta of 0.91. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $374.63.

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

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio is presently 35.67%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SYK. Royal Bank of Canada reiterated an “outperform” rating and issued a $386.00 price target on shares of Stryker in a report on Wednesday, July 31st. Evercore ISI increased their target price on shares of Stryker from $365.00 to $380.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Stifel Nicolaus reduced their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Morgan Stanley boosted their price objective on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Finally, Needham & Company LLC raised their target price on shares of Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average target price of $379.37.

View Our Latest Stock Report on Stryker

Insider Activity

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. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the transaction, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 220,068 shares of company stock worth $71,811,372 over the last 90 days. 5.90% of the stock is currently owned by company insiders.

About Stryker

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