Stryker Co. (NYSE:SYK) Shares Acquired by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. increased its holdings in shares of Stryker Co. (NYSE:SYK) by 1.3% during the second quarter, Holdings Channel.com reports. The fund owned 5,890 shares of the medical technology company’s stock after buying an additional 75 shares during the period. Coldstream Capital Management Inc.’s holdings in Stryker were worth $2,004,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Stryker in the fourth quarter valued at approximately $1,561,000. Koshinski Asset Management Inc. acquired a new position in Stryker during the first quarter worth $795,000. Envestnet Portfolio Solutions Inc. lifted its holdings in Stryker by 43.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock valued at $6,617,000 after purchasing an additional 5,565 shares in the last quarter. Norden Group LLC acquired a new stake in shares of Stryker in the first quarter valued at about $4,027,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Stryker during the first quarter worth about $21,970,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

Shares of SYK opened at $365.10 on Wednesday. The firm has a 50-day simple moving average of $340.21 and a two-hundred day simple moving average of $342.04. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $365.96. The stock has a market cap of $139.13 billion, a PE ratio of 41.68, a P/E/G ratio of 2.77 and a beta of 0.91.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the previous year, the company earned $2.54 earnings per share. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, analysts forecast that Stryker Co. will post 12 EPS for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio is currently 36.53%.

Insiders Place Their Bets

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Viju Menon sold 600 shares of the 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. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. The disclosure for this sale can be found here. Insiders have sold 210,600 shares of company stock worth $68,330,400 over the last three months. Company insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SYK shares. Royal Bank of Canada restated an “outperform” rating and issued a $386.00 target price on shares of Stryker in a research report on Wednesday, July 31st. Piper Sandler reaffirmed an “overweight” rating and set a $380.00 target price on shares of Stryker in a research note on Tuesday. Morgan Stanley upped their target price on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Barclays boosted their price target on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $378.58.

Stryker Company Profile

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 total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.