Brown Brothers Harriman & Co. Grows Stock Position in Stryker Co. (NYSE:SYK)

Brown Brothers Harriman & Co. boosted its holdings in shares of Stryker Co. (NYSE:SYK) by 1.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,056 shares of the medical technology company’s stock after purchasing an additional 44 shares during the period. Brown Brothers Harriman & Co.’s holdings in Stryker were worth $794,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. RE Advisers Corp purchased a new position in Stryker during the 2nd quarter valued at about $34,000. Penserra Capital Management LLC purchased a new position in Stryker during the 2nd quarter valued at about $36,000. Albion Financial Group UT purchased a new position in shares of Stryker during the 2nd quarter worth approximately $37,000. Magellan Asset Management Ltd purchased a new position in shares of Stryker during the 1st quarter worth approximately $35,000. Finally, Eagle Bay Advisors LLC purchased a new position in shares of Stryker during the 2nd quarter worth approximately $43,000. Institutional investors own 72.58% of the company’s stock.

SYK opened at $256.50 on Thursday. The firm has a 50-day simple moving average of $268.65 and a two-hundred day simple moving average of $261.19. Stryker Co. has a 52 week low of $196.09 and a 52 week high of $281.16. The company has a market capitalization of $96.73 billion, a PE ratio of 46.98, a price-to-earnings-growth ratio of 3.08 and a beta of 0.98. The company has a quick ratio of 1.32, a current ratio of 2.12 and a debt-to-equity ratio of 0.92.

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

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 29th. Investors of record on Thursday, September 30th will be issued a $0.63 dividend. 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 33.92%.

A number of research analysts have weighed in on the company. Truist Securities upped their target price on Stryker from $250.00 to $275.00 and gave the stock a “hold” rating in a report on Wednesday, July 28th. SVB Leerink upped their target price on Stryker from $290.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, July 28th. Truist upped their target price on Stryker from $250.00 to $275.00 and gave the stock a “hold” rating in a report on Wednesday, July 28th. Northland Securities upgraded Stryker from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $248.00 to $310.00 in a report on Wednesday, July 28th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Stryker in a research report on Wednesday, July 28th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Stryker has a consensus rating of “Buy” and an average price target of $287.13.

In related news, VP Robert S. Fletcher sold 1,120 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $1,183,566.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 150,000 shares of the firm’s stock in a transaction dated 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. 6.70% of the stock is currently owned by company insiders.

Stryker 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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