Renasant Bank increased its holdings in Stryker Co. (NYSE:SYK – Free Report) by 6.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 803 shares of the medical technology company’s stock after buying an additional 52 shares during the quarter. Renasant Bank’s holdings in Stryker were worth $245,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in SYK. Quarry LP bought a new position in Stryker during the 1st quarter valued at $27,000. Bay Harbor Wealth Management LLC acquired a new stake in shares of Stryker during the 2nd quarter valued at $31,000. Freedom Wealth Alliance LLC acquired a new stake in shares of Stryker during the 4th quarter valued at $26,000. Altshuler Shaham Ltd acquired a new stake in shares of Stryker during the 1st quarter valued at $33,000. Finally, HBW Advisory Services LLC acquired a new stake in shares of Stryker during the 2nd quarter valued at $35,000. 76.24% of the stock is owned by institutional investors.
Stryker Stock Down 0.7 %
Shares of SYK opened at $268.42 on Friday. The stock has a market cap of $101.94 billion, a price-to-earnings ratio of 37.91, a P/E/G ratio of 2.61 and a beta of 0.95. The company has a quick ratio of 0.84, a current ratio of 1.54 and a debt-to-equity ratio of 0.64. Stryker Co. has a 12 month low of $205.43 and a 12 month high of $306.93. The company has a 50-day moving average price of $278.92 and a two-hundred day moving average price of $285.63.
Stryker (NYSE:SYK – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The medical technology company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.16. The firm had revenue of $5 billion during the quarter, compared to analysts’ expectations of $4.83 billion. Stryker had a net margin of 13.92% and a return on equity of 22.31%. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.25 earnings per share. Equities analysts predict that Stryker Co. will post 10.37 EPS for the current fiscal year.
Stryker Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Thursday, September 28th. Stryker’s dividend payout ratio (DPR) is currently 42.37%.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the company. Morgan Stanley increased their target price on Stryker from $295.00 to $300.00 and gave the company an “equal weight” rating in a report on Monday, August 7th. Citigroup cut their price objective on Stryker from $342.00 to $330.00 and set a “buy” rating for the company in a report on Monday, October 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $325.00 price objective on shares of Stryker in a report on Thursday, August 17th. BTIG Research increased their price objective on Stryker from $313.00 to $331.00 in a report on Monday, July 17th. Finally, Truist Financial increased their price objective on Stryker from $300.00 to $310.00 in a report on Wednesday, July 19th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and an average price target of $311.30.
Get Our Latest Research Report on Stryker
In other news, insider Viju Menon sold 5,000 shares of Stryker stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $289.00, for a total value of $1,445,000.00. Following the completion of the transaction, the insider now owns 6,994 shares in the company, valued at $2,021,266. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.90% of the stock is currently owned by corporate insiders.
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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