Artemis Investment Management LLP Sells 71,532 Shares of Stryker Co. (NYSE:SYK)

Artemis Investment Management LLP lessened its holdings in Stryker Co. (NYSE:SYK) by 40.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 105,435 shares of the medical technology company’s stock after selling 71,532 shares during the quarter. Artemis Investment Management LLP’s holdings in Stryker were worth $38,089,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Centennial Bank AR lifted its position 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 worth $32,000 after purchasing an additional 48 shares during the period. Central Pacific Bank Trust Division purchased a new stake in shares of Stryker during the first quarter valued at about $39,000. HBW Advisory Services LLC purchased a new position in shares of Stryker in the 3rd quarter worth approximately $42,000. Accent Capital Management LLC bought a new position in shares of Stryker during the 4th quarter worth approximately $60,000. Finally, Sachetta LLC lifted its holdings in shares of Stryker by 16.3% during the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock valued at $80,000 after purchasing an additional 34 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Performance

NYSE:SYK opened at $350.81 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. The stock has a market capitalization of $133.64 billion, a PE ratio of 40.05, a P/E/G ratio of 2.71 and a beta of 0.91. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $374.63. The company has a fifty day moving average of $350.01 and a two-hundred day moving average of $342.93.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping 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 firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the previous year, the business earned $2.54 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, research analysts forecast that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

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 given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s payout ratio is 36.53%.

Analysts Set New Price Targets

SYK has been the subject of several recent analyst reports. Evercore ISI raised their price target on Stryker from $365.00 to $380.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Piper Sandler reaffirmed an “overweight” rating and issued a $380.00 price target on shares of Stryker in a report on Tuesday, September 10th. Stifel Nicolaus cut their target price on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Barclays raised their target price on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Needham & Company LLC boosted their price target on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $379.37.

Insider Activity at Stryker

In related news, insider Viju Menon sold 600 shares of Stryker stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 sale, the chief financial officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Viju Menon sold 600 shares of Stryker stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 220,068 shares of company stock worth $71,811,372. Company insiders own 5.90% of the company’s stock.

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.