Sigma Investment Counselors Inc. Boosts Stock Position in Stryker Co. (NYSE:SYK)

Sigma Investment Counselors Inc. lifted its position in shares of Stryker Co. (NYSE:SYKGet Rating) by 0.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,425 shares of the medical technology company’s stock after acquiring an additional 225 shares during the period. Stryker comprises approximately 0.7% of Sigma Investment Counselors Inc.’s holdings, making the stock its 29th largest holding. Sigma Investment Counselors Inc.’s holdings in Stryker were worth $9,036,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Claremont Financial Group Inc. purchased a new position in shares of Stryker during the 1st quarter valued at $25,000. Exane Derivatives bought a new position in Stryker during the first quarter valued at about $27,000. Princeton Global Asset Management LLC lifted its position in shares of Stryker by 1,212.5% in the first quarter. Princeton Global Asset Management LLC now owns 105 shares of the medical technology company’s stock worth $28,000 after buying an additional 97 shares during the last quarter. Dixon Hughes Goodman Wealth Advisors LLC raised its stake in shares of Stryker by 10,700.0% in the 1st quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 108 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 107 shares in the last quarter. Finally, Holloway Wealth Management LLC acquired a new position in shares of Stryker during the 1st quarter worth about $33,000. Institutional investors and hedge funds own 76.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SYK shares. Cowen lowered their price objective on Stryker from $305.00 to $233.00 and set an “outperform” rating on the stock in a research report on Friday, July 22nd. Deutsche Bank Aktiengesellschaft lowered shares of Stryker from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $285.00 to $205.00 in a report on Thursday, July 21st. Edward Jones upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, July 28th. Bank of America lowered shares of Stryker from a “buy” rating to a “neutral” rating in a report on Monday, July 11th. Finally, Piper Sandler raised their price target on shares of Stryker from $250.00 to $260.00 and gave the company an “overweight” rating in a report on Wednesday, September 14th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $256.29.

Stryker Stock Down 1.8 %

Shares of NYSE:SYK traded down $3.86 during mid-day trading on Friday, reaching $205.02. 40,055 shares of the stock were exchanged, compared to its average volume of 1,343,231. Stryker Co. has a one year low of $188.84 and a one year high of $280.43. The company has a quick ratio of 1.15, a current ratio of 2.00 and a debt-to-equity ratio of 0.85. The stock’s 50 day simple moving average is $213.01 and its 200-day simple moving average is $228.11. The company has a market cap of $77.53 billion, a P/E ratio of 37.89, a P/E/G ratio of 2.58 and a beta of 1.03.

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

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 given a dividend of $0.695 per share. The ex-dividend date is Thursday, September 29th. This represents a $2.78 annualized dividend and a yield of 1.36%. Stryker’s dividend payout ratio (DPR) is presently 51.20%.

About Stryker

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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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