Moody National Bank Trust Division bought a new stake in Stryker Co. (NYSE:SYK – Get Rating) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,195 shares of the medical technology company’s stock, valued at approximately $636,000.
Other institutional investors also recently made changes to their positions in the company. LGT Group Foundation increased its position in Stryker by 307.9% in the first quarter. LGT Group Foundation now owns 7,101 shares of the medical technology company’s stock worth $1,910,000 after buying an additional 5,360 shares during the period. Freestone Capital Holdings LLC lifted its position in Stryker by 13.6% in the 1st quarter. Freestone Capital Holdings LLC now owns 1,701 shares of the medical technology company’s stock valued at $455,000 after purchasing an additional 204 shares during the last quarter. Compass Financial Advisors LLC acquired a new position in Stryker during the 4th quarter valued at about $562,000. Spears Abacus Advisors LLC grew its position in Stryker by 31.9% in the 4th quarter. Spears Abacus Advisors LLC now owns 2,511 shares of the medical technology company’s stock worth $671,000 after purchasing an additional 608 shares during the last quarter. Finally, Peak Asset Management LLC increased its stake in shares of Stryker by 0.6% in the first quarter. Peak Asset Management LLC now owns 54,321 shares of the medical technology company’s stock valued at $14,523,000 after purchasing an additional 345 shares during the period. 76.44% of the stock is owned by institutional investors.
Stryker Price Performance
Shares of NYSE SYK opened at $221.25 on Friday. Stryker Co. has a twelve month low of $188.84 and a twelve month high of $280.43. The company has a current ratio of 2.00, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $83.67 billion, a price-to-earnings ratio of 40.75, a PEG ratio of 2.69 and a beta of 1.03. The firm has a 50-day moving average of $211.40 and a two-hundred day moving average of $229.46.
Stryker Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be issued a dividend of $0.695 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $2.78 annualized dividend and a yield of 1.26%. Stryker’s payout ratio is presently 51.20%.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on SYK. Truist Financial increased their price objective on Stryker to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Robert W. Baird cut their price objective on shares of Stryker from $297.00 to $240.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 27th. Morgan Stanley decreased their target price on shares of Stryker from $270.00 to $220.00 and set an “equal weight” rating for the company in a research report on Friday, July 15th. Deutsche Bank Aktiengesellschaft cut shares of Stryker from a “buy” rating to a “hold” rating and lowered their target price for the company from $285.00 to $205.00 in a research note on Thursday, July 21st. Finally, Bank of America cut shares of Stryker from a “buy” rating to a “neutral” rating in a report on Monday, July 11th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $256.29.
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.
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