Stryker Co. (NYSE:SYK) Shares Sold by Park Place Capital Corp

Park Place Capital Corp reduced its position in shares of Stryker Co. (NYSE:SYK) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,695 shares of the medical technology company’s stock after selling 33 shares during the period. Park Place Capital Corp’s holdings in Stryker were worth $610,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Dunhill Financial LLC grew its holdings in shares of Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 37 shares during the period. Centennial Bank AR grew its stake in shares of Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after buying an additional 48 shares during the period. Darwin Wealth Management LLC acquired a new stake in shares of Stryker during the 3rd quarter worth approximately $36,000. HBW Advisory Services LLC purchased a new stake in shares of Stryker during the 3rd quarter valued at approximately $42,000. Finally, Hara Capital LLC purchased a new position in Stryker in the third quarter worth approximately $42,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Buying and Selling

In other news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.50% of the company’s stock.

Stryker Price Performance

Stryker stock opened at $392.56 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $149.65 billion, a PE ratio of 42.08, a P/E/G ratio of 2.63 and a beta of 0.95. The firm’s 50-day simple moving average is $375.78 and its 200 day simple moving average is $359.94. Stryker Co. has a 52 week low of $307.23 and a 52 week high of $398.20.

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

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. This is an increase from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio is currently 36.01%.

Analyst Ratings Changes

A number of analysts have issued reports on SYK shares. Barclays boosted their target price on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Canaccord Genuity Group increased their target price on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. BTIG Research lifted their target price on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Truist Financial increased their price target on shares of Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Finally, UBS Group lifted their price objective on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $405.80.

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.