Stryker Co. (NYSE:SYK) Shares Acquired by Lokken Investment Group LLC

Lokken Investment Group LLC increased its holdings in shares of Stryker Co. (NYSE:SYK) by 11.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,441 shares of the medical technology company’s stock after purchasing an additional 356 shares during the period. Lokken Investment Group LLC’s holdings in Stryker were worth $1,171,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Precision Wealth Strategies LLC grew its holdings in shares of Stryker by 2.1% during the fourth quarter. Precision Wealth Strategies LLC now owns 3,114 shares of the medical technology company’s stock worth $933,000 after buying an additional 65 shares during the last quarter. Gryphon Financial Partners LLC purchased a new stake in Stryker in the 4th quarter valued at approximately $348,000. Level Four Advisory Services LLC increased its position in Stryker by 31.0% during the 4th quarter. Level Four Advisory Services LLC now owns 1,204 shares of the medical technology company’s stock worth $361,000 after purchasing an additional 285 shares during the period. TrinityPoint Wealth LLC lifted its holdings in shares of Stryker by 2.5% in the 4th quarter. TrinityPoint Wealth LLC now owns 2,841 shares of the medical technology company’s stock valued at $851,000 after buying an additional 70 shares during the period. Finally, Gladstone Institutional Advisory LLC boosted its stake in shares of Stryker by 10.3% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 1,798 shares of the medical technology company’s stock valued at $539,000 after buying an additional 168 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Price Performance

SYK stock opened at $364.00 on Wednesday. The stock has a market capitalization of $138.71 billion, a price-to-earnings ratio of 41.55, a price-to-earnings-growth ratio of 2.87 and a beta of 0.91. The stock’s fifty day simple moving average is $343.60 and its 200-day simple moving average is $342.61. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $374.63. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.79 by $0.02. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.54 EPS. Equities research analysts expect that Stryker Co. will post 12 EPS for the current year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio is currently 36.53%.

Insider Buying and Selling at Stryker

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the sale, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The disclosure for this sale can be found here. Insiders have sold a total of 220,068 shares of company stock worth $71,811,372 in the last quarter. 5.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on SYK shares. Needham & Company LLC raised their target price on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Piper Sandler reiterated an “overweight” rating and set a $380.00 price target on shares of Stryker in a research report on Tuesday, September 10th. Morgan Stanley upped their price target on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Barclays lifted their price objective on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a report on Monday. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Stryker has an average rating of “Moderate Buy” and an average price target of $378.58.

Stryker Profile

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.