Hartford Investment Management Co. Cuts Position in Stryker Co. (NYSE:SYK)

Hartford Investment Management Co. lowered its position in shares of Stryker Co. (NYSE:SYK) by 0.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 21,592 shares of the medical technology company’s stock after selling 141 shares during the quarter. Hartford Investment Management Co.’s holdings in Stryker were worth $7,800,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Stryker by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock valued at $11,258,373,000 after buying an additional 309,592 shares during the period. JPMorgan Chase & Co. grew its holdings in Stryker by 10.4% during the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after purchasing an additional 813,311 shares in the last quarter. Clearbridge Investments LLC increased its stake in Stryker by 2.9% during the 2nd quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock worth $790,554,000 after buying an additional 66,482 shares during the period. TD Asset Management Inc grew its stake in shares of Stryker by 2.9% during the first quarter. TD Asset Management Inc now owns 1,601,380 shares of the medical technology company’s stock valued at $573,086,000 after acquiring an additional 44,765 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Stryker by 4.0% during the second quarter. The Manufacturers Life Insurance Company now owns 1,209,769 shares of the medical technology company’s stock worth $411,624,000 after acquiring an additional 46,375 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Transactions at Stryker

In related news, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,685,213.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other 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 completion of the sale, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was 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 position. The disclosure for this sale can be found here. Insiders have sold 220,068 shares of company stock worth $71,811,372 in the last ninety days. Insiders own 5.90% of the company’s stock.

Stryker Stock Down 0.5 %

SYK traded down $1.81 during trading on Wednesday, hitting $364.21. The company had a trading volume of 29,360 shares, compared to its average volume of 1,244,138. The firm’s 50-day moving average price is $357.37 and its 200 day moving average price is $343.45. The company has a market capitalization of $138.75 billion, a PE ratio of 41.80, a PEG ratio of 2.85 and a beta of 0.91. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. Stryker Co. has a one year low of $255.22 and a one year high of $374.63.

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

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Analyst Ratings Changes

SYK has been the subject of several research analyst reports. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. BTIG Research raised their price objective on Stryker from $374.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Piper Sandler reissued an “overweight” rating and set a $380.00 target price on shares of Stryker in a report on Tuesday, September 10th. Needham & Company LLC boosted their price objective on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, UBS Group increased their price target on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $381.16.

Stryker 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.