Peddock Capital Advisors LLC Acquires 86 Shares of Stryker Co. (NYSE:SYK)

Peddock Capital Advisors LLC increased its holdings in Stryker Co. (NYSE:SYK) by 1.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,783 shares of the medical technology company’s stock after purchasing an additional 86 shares during the period. Peddock Capital Advisors LLC’s holdings in Stryker were worth $1,728,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Centennial Bank AR boosted its holdings in Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in Stryker during the 1st quarter worth $39,000. HBW Advisory Services LLC acquired a new position in Stryker during the 3rd quarter worth $42,000. Accent Capital Management LLC acquired a new position in Stryker during the 4th quarter worth $60,000. Finally, Sachetta LLC lifted its position in Stryker by 16.3% during the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after acquiring an additional 34 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Up 0.2 %

Shares of NYSE SYK traded up $0.76 during mid-day trading on Wednesday, reaching $351.55. 171,850 shares of the company’s stock were exchanged, compared to its average volume of 1,262,111. The business has a fifty day simple moving average of $350.43 and a 200 day simple moving average of $342.92. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $374.63. The firm has a market capitalization of $133.92 billion, a price-to-earnings ratio of 40.05, a PEG ratio of 2.71 and a beta of 0.91. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51.

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 analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter last year, the firm earned $2.54 EPS. Stryker’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, equities analysts expect that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is 36.53%.

Insiders Place Their Bets

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at $3,685,213.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,685,213.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Viju Menon sold 600 shares of Stryker stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 220,068 shares of company stock valued at $71,811,372 in the last 90 days. 5.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of research analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $380.00 price objective on shares of Stryker in a research report on Tuesday, September 10th. Barclays upped their price objective on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $386.00 price objective on shares of Stryker in a research report on Wednesday, July 31st. Stifel Nicolaus reduced their target price on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, Wolfe Research initiated coverage on shares of Stryker in a report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price target on the stock. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.