Arbor Trust Wealth Advisors LLC Acquires 540 Shares of Stryker Co. (NYSE:SYK)

Arbor Trust Wealth Advisors LLC lifted its holdings in shares of Stryker Co. (NYSE:SYKGet Rating) by 4.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 11,964 shares of the medical technology company’s stock after purchasing an additional 540 shares during the period. Stryker comprises about 1.7% of Arbor Trust Wealth Advisors LLC’s investment portfolio, making the stock its 19th biggest position. Arbor Trust Wealth Advisors LLC’s holdings in Stryker were worth $2,388,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SYK. First Western Trust Bank purchased a new stake in Stryker during the 1st quarter valued at $1,090,886,000. Norges Bank purchased a new stake in Stryker during the 4th quarter valued at $816,519,000. Ontario Teachers Pension Plan Board boosted its position in Stryker by 87,902.2% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 2,077,732 shares of the medical technology company’s stock valued at $555,482,000 after buying an additional 2,075,371 shares during the period. Wellington Management Group LLP boosted its position in Stryker by 11.3% during the 1st quarter. Wellington Management Group LLP now owns 15,370,391 shares of the medical technology company’s stock valued at $4,109,274,000 after buying an additional 1,561,376 shares during the period. Finally, AustralianSuper Pty Ltd purchased a new stake in Stryker during the 1st quarter valued at $295,397,000. Institutional investors own 76.44% of the company’s stock.

Stryker Stock Performance

Shares of SYK stock traded down $1.88 during trading hours on Friday, reaching $207.00. The company had a trading volume of 71,349 shares, compared to its average volume of 1,343,231. The business has a fifty day moving average price of $213.01 and a 200-day moving average price of $228.11. Stryker Co. has a one year low of $188.84 and a one year high of $280.43. The firm has a market cap of $78.28 billion, a PE ratio of 38.04, a price-to-earnings-growth ratio of 2.58 and a beta of 1.03. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 2.00.

Stryker (NYSE:SYKGet Rating) last announced its quarterly earnings results on Tuesday, July 26th. The medical technology company reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.02). The company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.53 billion. Stryker had a return on equity of 23.34% and a net margin of 11.79%. During the same quarter in the prior year, the firm earned $2.25 earnings per share. Sell-side analysts predict that Stryker Co. will post 9.38 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be issued a dividend of $0.695 per share. This represents a $2.78 annualized dividend and a yield of 1.34%. The ex-dividend date is Thursday, September 29th. Stryker’s dividend payout ratio is currently 51.20%.

Wall Street Analyst Weigh In

SYK has been the subject of several research analyst reports. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, September 13th. Bank of America cut shares of Stryker from a “buy” rating to a “neutral” rating in a research report on Monday, July 11th. BTIG Research dropped their target price on shares of Stryker from $244.00 to $238.00 and set a “buy” rating for the company in a research report on Tuesday, September 6th. Cowen lowered their price target on shares of Stryker from $305.00 to $233.00 and set an “outperform” rating for the company in a research report on Friday, July 22nd. Finally, Stifel Nicolaus lowered their price target on shares of Stryker from $285.00 to $245.00 in a research report on Monday, July 18th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and an average target price of $256.29.

Stryker Company Profile

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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.

See Also

Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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