Harbour Trust & Investment Management Co Buys 276 Shares of Stryker Corporation $SYK

Harbour Trust & Investment Management Co raised its stake in shares of Stryker Corporation (NYSE:SYK) by 0.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,754 shares of the medical technology company’s stock after buying an additional 276 shares during the period. Stryker accounts for approximately 1.8% of Harbour Trust & Investment Management Co’s portfolio, making the stock its 13th biggest holding. Harbour Trust & Investment Management Co’s holdings in Stryker were worth $16,519,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SYK. Sachetta LLC raised its holdings in Stryker by 58.7% during the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after buying an additional 27 shares in the last quarter. Goodman Advisory Group LLC bought a new position in Stryker during the first quarter valued at about $32,000. Ridgewood Investments LLC raised its holdings in Stryker by 48.4% during the second quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock valued at $36,000 after buying an additional 30 shares in the last quarter. Ransom Advisory Ltd bought a new position in Stryker during the first quarter valued at about $37,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in Stryker during the first quarter valued at about $40,000. 77.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SYK has been the topic of several recent research reports. Wall Street Zen lowered Stryker from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Wells Fargo & Company raised their price target on Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Truist Financial set a $415.00 price target on Stryker and gave the company a “hold” rating in a research report on Monday, August 4th. Rothschild & Co Redburn assumed coverage on Stryker in a research report on Thursday, September 18th. They issued a “neutral” rating and a $420.00 price target on the stock. Finally, Rothschild Redb raised Stryker to a “hold” rating in a research report on Thursday, September 18th. Fifteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $432.14.

Stryker Stock Up 0.1%

SYK stock opened at $364.95 on Tuesday. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19. The company has a market cap of $139.52 billion, a PE ratio of 48.34, a price-to-earnings-growth ratio of 2.63 and a beta of 0.94. The business’s 50-day simple moving average is $379.93 and its 200 day simple moving average is $378.91. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70.

Stryker (NYSE:SYK) last released its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The business had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. During the same period last year, the business earned $2.81 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, research analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. Stryker’s dividend payout ratio (DPR) is 44.50%.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the completion of the transaction, the director owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Viju Menon sold 500 shares of the firm’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the transaction, the insider owned 12,511 shares of the company’s stock, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their position. The disclosure for this sale can be found here. 5.20% of the stock is owned by company insiders.

About Stryker

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.