Sigma Investment Counselors Inc. Raises Stock Holdings in Stryker Co. (NYSE:SYK)

Sigma Investment Counselors Inc. lifted its stake in shares of Stryker Co. (NYSE:SYKGet Rating) by 0.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 45,425 shares of the medical technology company’s stock after buying an additional 225 shares during the quarter. Stryker accounts for 0.7% of Sigma Investment Counselors Inc.’s portfolio, making the stock its 29th biggest position. Sigma Investment Counselors Inc.’s holdings in Stryker were worth $9,036,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Stryker by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 28,898,295 shares of the medical technology company’s stock valued at $7,725,958,000 after acquiring an additional 245,614 shares during the period. Wellington Management Group LLP lifted its holdings in Stryker by 11.3% during the 1st quarter. Wellington Management Group LLP now owns 15,370,391 shares of the medical technology company’s stock worth $4,109,274,000 after purchasing an additional 1,561,376 shares in the last quarter. State Street Corp increased its position in shares of Stryker by 3.0% during the fourth quarter. State Street Corp now owns 13,911,036 shares of the medical technology company’s stock valued at $3,729,638,000 after buying an additional 402,204 shares during the period. Capital Research Global Investors boosted its position in shares of Stryker by 5.1% in the first quarter. Capital Research Global Investors now owns 10,403,668 shares of the medical technology company’s stock valued at $2,781,432,000 after acquiring an additional 502,935 shares during the period. Finally, First Western Trust Bank bought a new stake in Stryker during the 1st quarter worth approximately $1,090,886,000. 76.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on SYK. Robert W. Baird decreased their price target on shares of Stryker from $297.00 to $240.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Piper Sandler boosted their price target on shares of Stryker from $250.00 to $260.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 14th. Morgan Stanley cut 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. Cowen decreased their price objective on Stryker from $305.00 to $233.00 and set an “outperform” rating on the stock in a report on Friday, July 22nd. Finally, StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, September 13th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $256.29.

Stryker Stock Performance

NYSE SYK traded down $3.86 during trading hours on Friday, hitting $205.02. The company’s stock had a trading volume of 40,055 shares, compared to its average volume of 1,343,231. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.00 and a quick ratio of 1.15. The company has a market cap of $77.53 billion, a P/E ratio of 37.89, a price-to-earnings-growth ratio of 2.58 and a beta of 1.03. The company’s 50 day simple moving average is $213.01 and its two-hundred day simple moving average is $228.11. Stryker Co. has a 12 month low of $188.84 and a 12 month high of $280.43.

Stryker (NYSE:SYKGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The medical technology company reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.02). The firm had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.53 billion. Stryker had a net margin of 11.79% and a return on equity of 23.34%. During the same quarter in the prior year, the firm earned $2.25 earnings per share. As a group, sell-side analysts expect that Stryker Co. will post 9.38 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be given a dividend of $0.695 per share. The ex-dividend date is Thursday, September 29th. This represents a $2.78 dividend on an annualized basis and a dividend yield of 1.36%. Stryker’s payout ratio is currently 51.20%.

Stryker Profile

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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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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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