Northstar Group Inc. Cuts Holdings in Stryker Co. (NYSE:SYK)

Northstar Group Inc. lessened its stake in shares of Stryker Co. (NYSE:SYK) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,265 shares of the medical technology company’s stock after selling 40 shares during the quarter. Northstar Group Inc.’s holdings in Stryker were worth $2,263,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SYK. Koshinski Asset Management Inc. bought a new position in shares of Stryker during the 1st quarter worth approximately $795,000. Envestnet Portfolio Solutions Inc. increased its position in Stryker by 43.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock valued at $6,617,000 after buying an additional 5,565 shares in the last quarter. Norden Group LLC purchased a new stake in Stryker in the first quarter valued at about $4,027,000. International Assets Investment Management LLC acquired a new stake in Stryker in the first quarter worth about $21,970,000. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Stryker by 38.5% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock worth $7,084,000 after acquiring an additional 5,502 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

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 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. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker 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 completion of the sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. 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 accessible through the SEC website. Also, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 220,068 shares of company stock valued at $71,811,372 in the last ninety days. Company insiders own 5.90% of the company’s stock.

Stryker Trading Up 0.2 %

Shares of SYK traded up $0.87 during midday trading on Thursday, reaching $354.83. The company had a trading volume of 42,682 shares, compared to its average volume of 1,259,450. The firm has a 50 day simple moving average of $350.96 and a 200-day simple moving average of $343.00. 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 stock has a market cap of $135.17 billion, a PE ratio of 40.41, a price-to-earnings-growth ratio of 2.71 and a beta of 0.91. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $374.63.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 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 for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the prior year, the company posted $2.54 EPS. The company’s quarterly revenue was up 8.5% on a year-over-year basis. Research analysts forecast that Stryker Co. will post 12 EPS for the current fiscal 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 issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is currently 36.53%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SYK shares. Piper Sandler reiterated an “overweight” rating and issued a $380.00 target price on shares of Stryker in a research note on Tuesday, September 10th. Morgan Stanley lifted their price objective on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. BTIG Research upped their target price on Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. UBS Group lifted their price target on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Needham & Company LLC increased their price objective on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock 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.