Stryker Co. (NYSE:SYK) Shares Sold by 1832 Asset Management L.P.

1832 Asset Management L.P. lessened its holdings in shares of Stryker Co. (NYSE:SYK) by 57.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 370,306 shares of the medical technology company’s stock after selling 508,363 shares during the quarter. 1832 Asset Management L.P. owned 0.10% of Stryker worth $125,997,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in SYK. Precision Wealth Strategies LLC grew its position in shares of Stryker by 2.1% in the 4th quarter. Precision Wealth Strategies LLC now owns 3,114 shares of the medical technology company’s stock worth $933,000 after acquiring an additional 65 shares in the last quarter. Gryphon Financial Partners LLC acquired a new position in shares of Stryker in the 4th quarter worth approximately $348,000. TrinityPoint Wealth LLC grew its position in shares of Stryker by 2.5% in the 4th quarter. TrinityPoint Wealth LLC now owns 2,841 shares of the medical technology company’s stock worth $851,000 after acquiring an additional 70 shares in the last quarter. Assetmark Inc. grew its position in shares of Stryker by 57.1% in the 4th quarter. Assetmark Inc. now owns 891 shares of the medical technology company’s stock worth $267,000 after acquiring an additional 324 shares in the last quarter. Finally, SageView Advisory Group LLC grew its position in shares of Stryker by 17.1% in the 4th quarter. SageView Advisory Group LLC now owns 1,627 shares of the medical technology company’s stock worth $515,000 after acquiring an additional 237 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Viju Menon sold 600 shares of Stryker 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 transaction, the insider now owns 9,069 shares in the company, valued at $3,219,495. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction 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 in the company, valued at approximately $1,072,790,023.68. 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 three months. 5.90% of the stock is currently owned by insiders.

Stryker Stock Down 0.1 %

Shares of SYK stock opened at $364.81 on Friday. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $374.63. The stock has a market cap of $138.97 billion, a PE ratio of 41.64, a price-to-earnings-growth ratio of 2.87 and a beta of 0.91. The business’s fifty day moving average is $345.12 and its 200-day moving average is $342.89. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68.

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. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The company had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same period last year, the firm earned $2.54 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities analysts expect that Stryker Co. will post 12 earnings per share for the current fiscal 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. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Monday, September 30th. Stryker’s payout ratio is 36.53%.

Analyst Ratings Changes

Several research analysts have recently commented on SYK shares. Barclays lifted their target price on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. The Goldman Sachs Group initiated coverage on Stryker in a report on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price target on the stock. Piper Sandler reissued an “overweight” rating and issued a $380.00 price target on shares of Stryker in a report on Tuesday, September 10th. Needham & Company LLC raised their price target on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a report on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $378.58.

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.