Burke & Herbert Bank & Trust Co. Invests $340,000 in Stryker Co. (NYSE:SYK)

Burke & Herbert Bank & Trust Co. purchased a new stake in Stryker Co. (NYSE:SYK) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,000 shares of the medical technology company’s stock, valued at approximately $340,000.

Several other hedge funds have also made changes to their positions in the company. Burkett Financial Services LLC acquired a new stake in shares of Stryker in the fourth quarter worth $25,000. Rogco LP acquired a new stake in Stryker during the 4th quarter worth about $30,000. DSM Capital Partners LLC purchased a new position in Stryker during the 4th quarter valued at about $34,000. Bourgeon Capital Management LLC purchased a new position in Stryker during the 4th quarter valued at about $37,000. Finally, Central Pacific Bank Trust Division acquired a new position in shares of Stryker in the 1st quarter valued at about $39,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Trading Up 1.2 %

Shares of SYK stock opened at $328.99 on Wednesday. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41. The company has a market cap of $125.37 billion, a PE ratio of 37.56, a price-to-earnings-growth ratio of 2.53 and a beta of 0.89. 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 business’s 50 day moving average is $336.62 and its two-hundred day moving average is $340.53.

Stryker (NYSE:SYK) last posted 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 business 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%. Stryker’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.54 EPS. Equities analysts predict that Stryker Co. will post 11.99 EPS for the current year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.97%. Stryker’s dividend payout ratio is presently 36.53%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Barclays boosted their price objective on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Truist Financial lowered their price target on shares of Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. UBS Group increased their price objective on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Royal Bank of Canada reissued an “outperform” rating and set a $386.00 price objective on shares of Stryker in a research report on Wednesday, July 31st. Finally, BTIG Research dropped their target price on Stryker from $372.00 to $360.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and a consensus price target of $373.11.

Insider Activity at Stryker

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker 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 of the company’s stock, valued at approximately $949,716. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the transaction, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction dated 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 sale, the chief financial officer now directly owns 2,852 shares in the company, valued at $949,716. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

Stryker Company 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.