Eagle Ridge Investment Management Buys 397 Shares of Stryker Co. (NYSE:SYK)

25 Oct 2024, 07:58 by Jessica Moore · The Cerbat Gem

Eagle Ridge Investment Management lifted its position in Stryker Co. (NYSE:SYK – Free Report) by 0.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,373 shares of the medical technology company’s stock after buying an additional 397 shares during the quarter. Stryker comprises approximately 2.8% of Eagle Ridge Investment Management’s holdings, making the stock its 10th largest position. Eagle Ridge Investment Management’s holdings in Stryker were worth $31,564,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Centennial Bank AR boosted its holdings in Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 48 shares during the period. Central Pacific Bank Trust Division bought a new stake in Stryker during the 1st quarter valued at approximately $39,000. HBW Advisory Services LLC acquired a new stake in Stryker in the 3rd quarter valued at approximately $42,000. Grove Bank & Trust increased its position in Stryker by 84.8% in the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after buying an additional 56 shares during the period. Finally, DT Investment Partners LLC lifted its holdings in shares of Stryker by 114.3% during the third quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock worth $49,000 after buying an additional 72 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Stryker Price Performance

NYSE:SYK opened at $359.90 on Friday. 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 cap of $137.10 billion, a PE ratio of 41.08, a price-to-earnings-growth ratio of 2.83 and a beta of 0.91. Stryker Co. has a 12 month low of $255.22 and a 12 month high of $374.63. The company’s 50-day moving average price is $357.99 and its two-hundred day moving average price is $343.59.

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

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a $0.80 dividend. 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 0.89%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Insider Activity at Stryker

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,685,213.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Stryker news, insider Viju Menon sold 600 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the transaction, the vice president now owns 10,042 shares in the company, valued at $3,685,213.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 220,068 shares of company stock valued at $71,811,372 over the last ninety days. 5.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SYK. Needham & Company LLC raised their price objective on shares of Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Piper Sandler restated an “overweight” rating and issued a $380.00 price target on shares of Stryker in a research report on Tuesday, September 10th. Truist Financial upped their price objective on shares of Stryker from $345.00 to $370.00 and gave the company a “hold” rating in a research report on Monday, October 14th. Stifel Nicolaus reduced their target price on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $386.00 price target on shares of Stryker in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average price target of $381.16.

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