Thrivent Financial for Lutherans Has $29.69 Million Stock Position in Stryker Co. (NYSE:SYK)

Thrivent Financial for Lutherans boosted its stake in shares of Stryker Co. (NYSE:SYK) by 69.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 87,244 shares of the medical technology company’s stock after buying an additional 35,833 shares during the period. Thrivent Financial for Lutherans’ holdings in Stryker were worth $29,685,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of SYK. Burkett Financial Services LLC acquired a new stake in Stryker during the 4th quarter worth approximately $25,000. Central Pacific Bank Trust Division acquired a new stake in shares of Stryker in the first quarter valued at approximately $39,000. Accent Capital Management LLC acquired a new stake in shares of Stryker in the fourth quarter valued at approximately $60,000. Sachetta LLC raised its holdings in shares of Stryker by 16.3% in the second 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. Finally, Hazlett Burt & Watson Inc. raised its holdings in shares of Stryker by 17.9% in the first quarter. Hazlett Burt & Watson Inc. now owns 264 shares of the medical technology company’s stock valued at $94,000 after purchasing an additional 40 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SYK. Piper Sandler reiterated an “overweight” rating and issued a $380.00 price objective on shares of Stryker in a report on Tuesday, September 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $386.00 price objective on shares of Stryker in a report on Wednesday, July 31st. Needham & Company LLC lifted their price objective on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Truist Financial lowered their price objective on shares of Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Finally, The Goldman Sachs Group initiated coverage on shares of Stryker in a report on Thursday, May 30th. They set a “neutral” rating and a $372.00 target price on the stock. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and an average price target of $378.58.

Insider Activity

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the sale, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated 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 directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 220,068 shares of company stock valued at $71,811,372. 5.90% of the stock is owned by company insiders.

Stryker Trading Up 0.5 %

SYK stock opened at $366.53 on Tuesday. 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 company has a fifty day moving average price of $345.88 and a two-hundred day moving average price of $342.87. Stryker Co. has a one year low of $249.98 and a one year high of $374.63. The stock has a market cap of $139.63 billion, a price-to-earnings ratio of 41.84, a price-to-earnings-growth ratio of 2.87 and a beta of 0.91.

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. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. Stryker’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.54 earnings per share. Equities analysts anticipate that Stryker Co. will post 12 EPS for the current year.

Stryker Dividend Announcement

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

Stryker 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.