Stryker Co. (NYSE:SYK) Holdings Reduced by Harbour Investment Management LLC

Harbour Investment Management LLC decreased its holdings in Stryker Co. (NYSE:SYK) by 0.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,090 shares of the medical technology company’s stock after selling 50 shares during the period. Stryker comprises about 2.3% of Harbour Investment Management LLC’s investment portfolio, making the stock its 9th biggest holding. Harbour Investment Management LLC’s holdings in Stryker were worth $5,101,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SYK. Centennial Bank AR raised its position in Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Stryker during the first quarter valued at approximately $39,000. HBW Advisory Services LLC bought a new position in Stryker during the third quarter valued at approximately $42,000. Grove Bank & Trust boosted its holdings in Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 56 shares during the last quarter. Finally, DT Investment Partners LLC raised its stake in Stryker by 114.3% during the 3rd quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock valued at $49,000 after buying an additional 72 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the sale, the director now directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,715,540. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 200,068 shares of company stock valued at $65,151,372. Insiders own 5.90% of the company’s stock.

Stryker Price Performance

Stryker stock traded up $10.87 during midday trading on Friday, reaching $367.15. 1,860,484 shares of the stock traded hands, compared to its average volume of 1,090,088. The stock has a market cap of $139.96 billion, a P/E ratio of 39.35, a PEG ratio of 2.69 and a beta of 0.91. The stock’s fifty day moving average is $360.18 and its 200-day moving average is $344.31. The company has a quick ratio of 0.95, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker Co. has a 12 month low of $266.93 and a 12 month high of $374.63.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.46 EPS. As a group, equities research analysts anticipate that Stryker Co. will post 12.06 EPS for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.87%. The ex-dividend date was Monday, September 30th. Stryker’s dividend payout ratio is 34.30%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SYK. Wolfe Research started coverage on Stryker in a report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price target on the stock. Piper Sandler reiterated an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a research report on Wednesday. Canaccord Genuity Group upped their price objective on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday. Needham & Company LLC lifted their target price on Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Citigroup boosted their price target on Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

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.