Campbell Newman Asset Management Inc. Has $39.81 Million Stake in Stryker Co. (NYSE:SYK)

Campbell Newman Asset Management Inc. grew its holdings in Stryker Co. (NYSE:SYK) by 0.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,943 shares of the medical technology company’s stock after purchasing an additional 107 shares during the period. Stryker comprises about 3.4% of Campbell Newman Asset Management Inc.’s investment portfolio, making the stock its 9th biggest holding. Campbell Newman Asset Management Inc.’s holdings in Stryker were worth $39,810,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Stryker in the 4th quarter worth $25,000. Capital A Wealth Management LLC purchased a new position in Stryker during the fourth quarter valued at $26,000. Rakuten Securities Inc. lifted its position in Stryker by 618.2% during the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock valued at $28,000 after purchasing an additional 68 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in Stryker during the fourth quarter valued at $30,000. Finally, City Holding Co. lifted its position in Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock valued at $33,000 after purchasing an additional 74 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on SYK shares. BTIG Research set a $403.00 target price on Stryker and gave the company a “buy” rating in a research report on Monday, April 14th. Sanford C. Bernstein set a $450.00 price objective on Stryker in a research report on Monday, May 5th. Truist Financial boosted their price objective on Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, May 5th. Citigroup reaffirmed a “buy” rating and issued a $455.00 target price (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Finally, Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a report on Saturday. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $427.30.

Stryker Stock Down 0.9%

Shares of NYSE SYK opened at $377.01 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The firm has a market capitalization of $143.90 billion, a price-to-earnings ratio of 48.58, a PEG ratio of 2.93 and a beta of 0.91. The stock has a 50 day moving average price of $372.73 and a 200 day moving average price of $375.83. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19.

Stryker (NYSE:SYK) last posted its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.73 by $0.11. The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. Stryker had a return on equity of 23.58% and a net margin of 13.25%. Stryker’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.50 earnings per share. Sell-side analysts expect that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Monday, June 30th. Stryker’s payout ratio is 45.41%.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the transaction, the director now directly owns 3,417,326 shares of the company’s stock, valued at $1,288,195,208.96. This represents a 5.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.90% of the stock is owned by 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.