GAMMA Investing LLC Grows Stake in Stryker Co. (NYSE:SYK)

GAMMA Investing LLC lifted its position in Stryker Co. (NYSE:SYK) by 38.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,901 shares of the medical technology company’s stock after buying an additional 810 shares during the period. GAMMA Investing LLC’s holdings in Stryker were worth $1,048,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of SYK. Centennial Bank AR raised its holdings 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 purchasing an additional 48 shares during the period. Central Pacific Bank Trust Division bought a new position in Stryker in the 1st quarter worth $39,000. HBW Advisory Services LLC bought a new position in Stryker in the 3rd quarter worth $42,000. Accent Capital Management LLC bought a new position in Stryker in the 4th quarter worth $60,000. Finally, Sachetta LLC raised its holdings in Stryker by 16.3% in the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after purchasing an additional 34 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Trading Down 1.7 %

SYK opened at $345.14 on Tuesday. The firm has a market cap of $131.48 billion, a P/E ratio of 39.40, a P/E/G ratio of 2.74 and a beta of 0.91. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $374.63. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The stock has a 50-day moving average of $349.77 and a 200 day moving average of $342.99.

Stryker (NYSE:SYK) last announced its 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 business had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the previous year, the business earned $2.54 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, research analysts forecast that Stryker Co. will post 12 EPS for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is 36.53%.

Insider Buying and Selling

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction 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 completion of the sale, 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 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. Corporate insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SYK shares. Barclays raised their target price on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Needham & Company LLC raised their price target on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Wolfe Research assumed coverage on Stryker in a report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price target on the stock. Truist Financial decreased their price target on Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Finally, Evercore ISI raised their price target 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 issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $379.37.

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.