Fermata Advisors LLC Purchases 134 Shares of Stryker Co. (NYSE:SYK)

11 Oct 2024, 16:41 by Amy Steele · The Cerbat Gem

Fermata Advisors LLC boosted its position in shares of Stryker Co. (NYSE:SYK – Free Report) by 10.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,427 shares of the medical technology company’s stock after purchasing an additional 134 shares during the period. Fermata Advisors LLC’s holdings in Stryker were worth $515,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Centennial Bank AR boosted its holdings in shares of Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 48 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in Stryker in the first quarter worth $39,000. HBW Advisory Services LLC bought a new stake in shares of Stryker during the third quarter worth $42,000. Accent Capital Management LLC acquired a new stake in shares of Stryker in the fourth quarter valued at $60,000. Finally, Sachetta LLC lifted its position in Stryker by 16.3% during the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after buying an additional 34 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SYK shares. Morgan Stanley boosted their target price on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Wolfe Research initiated coverage on Stryker in a report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective on the stock. Truist Financial lowered their target price on Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Evercore ISI upped their price target on Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, BTIG Research lifted their price objective on Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and an average target price of $379.37.

Check Out Our Latest Report on SYK

Insider Activity at Stryker

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at $949,716. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 220,068 shares of company stock valued at $71,811,372. 5.90% of the stock is owned by insiders.

Stryker Stock Up 0.8 %

Shares of SYK traded up $2.85 on Friday, hitting $356.22. The company’s stock had a trading volume of 250,224 shares, compared to its average volume of 1,257,767. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $135.75 billion, a price-to-earnings ratio of 39.41, a P/E/G ratio of 2.73 and a beta of 0.91. The firm’s fifty day moving average price is $351.36 and its 200-day moving average price is $343.07. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $374.63.

Stryker (NYSE:SYK – Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.02. The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.54 earnings per share. On average, equities research analysts expect that Stryker Co. will post 12 EPS for the current year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.90%. Stryker’s payout ratio is presently 35.67%.

About Stryker

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