Grimes & Company Inc. Boosts Stock Position in Stryker Co. (NYSE:SYK)

Grimes & Company Inc. boosted its position in shares of Stryker Co. (NYSE:SYK) by 0.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,239 shares of the medical technology company’s stock after buying an additional 33 shares during the quarter. Grimes & Company Inc.’s holdings in Stryker were worth $2,977,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. CENTRAL TRUST Co boosted its holdings in Stryker by 0.9% during the 3rd quarter. CENTRAL TRUST Co now owns 14,742 shares of the medical technology company’s stock valued at $5,326,000 after acquiring an additional 127 shares during the period. Beese Fulmer Investment Management Inc. increased its stake in Stryker by 0.8% in the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 42,193 shares of the medical technology company’s stock worth $15,243,000 after buying an additional 328 shares during the period. Hennion & Walsh Asset Management Inc. grew its stake in Stryker by 60.8% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 9,116 shares of the medical technology company’s stock worth $3,293,000 after acquiring an additional 3,447 shares in the last quarter. Patrick M Sweeney & Associates Inc. raised its stake in shares of Stryker by 1.5% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock valued at $793,000 after acquiring an additional 32 shares in the last quarter. Finally, Great Lakes Retirement Inc. boosted its holdings in shares of Stryker by 3.6% in the third quarter. Great Lakes Retirement Inc. now owns 4,687 shares of the medical technology company’s stock valued at $1,693,000 after purchasing an additional 162 shares during the period. Institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the subject of several research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $386.00 target price on shares of Stryker in a report on Wednesday, July 31st. Truist Financial increased their target price on Stryker from $345.00 to $370.00 and gave the company a “hold” rating in a research report on Monday, October 14th. Evercore ISI boosted their price target on Stryker from $365.00 to $380.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Wolfe Research started coverage on Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective on the stock. Finally, Piper Sandler reiterated an “overweight” rating and issued a $380.00 target price on shares of Stryker in a research note on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and an average price target of $381.16.

Stryker Price Performance

NYSE SYK traded up $2.61 on Thursday, hitting $365.85. The company had a trading volume of 42,028 shares, compared to its average volume of 1,244,427. Stryker Co. has a 12-month low of $255.22 and a 12-month high of $374.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The company’s fifty day moving average price is $357.99 and its 200-day moving average price is $343.59. The company has a market capitalization of $139.37 billion, a PE ratio of 41.72, a PEG ratio of 2.83 and a beta of 0.91.

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

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid 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 yield of 0.87%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Insider Transactions at Stryker

In related news, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Viju Menon sold 600 shares of the company’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 completion of the sale, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 220,068 shares of company stock valued at $71,811,372 over the last 90 days. 5.90% of the stock is currently owned by corporate insiders.

About Stryker

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.