Stryker Co. (NYSE:SYK) Shares Bought by Sky Investment Group LLC

Sky Investment Group LLC raised its position in shares of Stryker Co. (NYSE:SYK) by 3.7% in the third quarter, Holdings Channel.com reports. The fund owned 15,119 shares of the medical technology company’s stock after acquiring an additional 533 shares during the quarter. Sky Investment Group LLC’s holdings in Stryker were worth $5,462,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SYK. Centennial Bank AR boosted its position in Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 48 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Stryker during the 1st quarter worth approximately $39,000. HBW Advisory Services LLC acquired a new position in shares of Stryker during the 3rd quarter worth approximately $42,000. Grove Bank & Trust grew its position in shares of Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after purchasing an additional 56 shares in the last quarter. Finally, Sachetta LLC lifted its position in Stryker by 16.3% during the second quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after buying an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Morgan Stanley raised their target price on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Stifel Nicolaus cut their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. 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 raised their price target on shares of Stryker from $345.00 to $370.00 and gave the stock a “hold” rating in a report on Monday, October 14th. Finally, Evercore ISI upped their price objective on Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $381.16.

Insider Buying and Selling

In related news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. 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 link. Also, 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 completion of the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 220,068 shares of company stock valued at $71,811,372 in the last three months. 5.90% of the stock is owned by corporate insiders.

Stryker Trading Down 0.5 %

NYSE:SYK traded down $1.71 on Tuesday, reaching $365.54. 132,170 shares of the company’s stock were exchanged, compared to its average volume of 1,246,298. The firm has a market capitalization of $139.25 billion, a price-to-earnings ratio of 41.92, a price-to-earnings-growth ratio of 2.85 and a beta of 0.91. Stryker Co. has a 52-week low of $255.22 and a 52-week high of $374.63. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. The business has a fifty day moving average of $356.63 and a 200-day moving average of $343.34.

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

Stryker Dividend Announcement

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