Creative Planning Sells 4,876 Shares of Stryker Co. (NYSE:SYK)

Creative Planning lowered its position in Stryker Co. (NYSE:SYK) by 6.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 74,999 shares of the medical technology company’s stock after selling 4,876 shares during the period. Creative Planning’s holdings in Stryker were worth $27,094,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Centennial Bank AR grew its position in Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares during the period. Central Pacific Bank Trust Division acquired a new position in shares of Stryker during the first quarter valued at about $39,000. HBW Advisory Services LLC bought a new stake in shares of Stryker during the third quarter worth about $42,000. Grove Bank & Trust raised its holdings in shares of Stryker by 84.8% in the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after acquiring an additional 56 shares during the last quarter. Finally, Sachetta LLC lifted its position in Stryker by 16.3% in the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock valued at $80,000 after acquiring an additional 34 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SYK. UBS Group increased their price objective on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $386.00 price objective on shares of Stryker in a report on Wednesday, July 31st. Needham & Company LLC increased their target price on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Piper Sandler restated an “overweight” rating and set a $380.00 price target on shares of Stryker in a report on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and an average target price of $381.16.

Insider Transactions at Stryker

In related news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction dated 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 sale, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Viju Menon sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of the 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 sale, the vice president now owns 10,042 shares in the company, valued at $3,685,213.16. This represents 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 three months. Company insiders own 5.90% of the company’s stock.

Stryker Stock Performance

NYSE:SYK opened at $369.56 on Monday. Stryker Co. has a 1 year low of $255.22 and a 1 year high of $374.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The business has a fifty day simple moving average of $355.79 and a two-hundred day simple moving average of $343.20. The company has a market capitalization of $140.78 billion, a P/E ratio of 42.19, a P/E/G ratio of 2.85 and a beta of 0.91.

Stryker (NYSE:SYK) last announced its quarterly earnings data 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. The business had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.54 EPS. On average, analysts expect that Stryker Co. will post 12 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a dividend of $0.80 per share. The ex-dividend date is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.87%. Stryker’s payout ratio is 36.53%.

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.