National Bank of Canada FI Sells 189,810 Shares of Stryker Co. (NYSE:SYK)

National Bank of Canada FI lowered its position in shares of Stryker Co. (NYSE:SYK) by 52.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 171,007 shares of the medical technology company’s stock after selling 189,810 shares during the period. National Bank of Canada FI’s holdings in Stryker were worth $57,472,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in SYK. Burkett Financial Services LLC bought a new stake in shares of Stryker in the 4th quarter worth $25,000. Central Pacific Bank Trust Division purchased a new stake in shares of Stryker during the first quarter valued at $39,000. DSM Capital Partners LLC bought a new stake in Stryker in the 4th quarter worth about $34,000. Private Wealth Management Group LLC purchased a new position in Stryker in the 4th quarter worth about $40,000. Finally, Advantage Trust Co bought a new position in Stryker during the 4th quarter valued at about $60,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Stryker

In other news, insider Viju Menon sold 600 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Viju Menon sold 600 shares of Stryker stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the sale, the director now owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The disclosure for this sale can be found here. Insiders sold a total of 210,600 shares of company stock valued at $68,330,400 in the last three months. 5.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SYK shares. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $386.00 target price on shares of Stryker in a research note on Wednesday, July 31st. Evercore ISI dropped their price target on Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Barclays upped their price objective on Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Truist Financial dropped their target price on Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $377.11.

Stryker Stock Performance

Shares of NYSE SYK opened at $358.00 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $364.36. The firm has a fifty day moving average price of $338.69 and a 200-day moving average price of $341.91. The stock has a market cap of $136.43 billion, a PE ratio of 40.87, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. The business had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the firm earned $2.54 earnings per share. Equities analysts anticipate that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.80 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.89%. Stryker’s payout ratio is 36.53%.

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.