Intech Investment Management LLC Sells 302 Shares of Stryker Co. (NYSE:SYK)

Intech Investment Management LLC reduced its stake in Stryker Co. (NYSE:SYK) by 6.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,709 shares of the medical technology company’s stock after selling 302 shares during the quarter. Intech Investment Management LLC’s holdings in Stryker were worth $1,602,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SYK. Burkett Financial Services LLC bought a new position in shares of Stryker during the 4th quarter valued at approximately $25,000. Central Pacific Bank Trust Division bought a new position in shares of Stryker in the first quarter worth approximately $39,000. Accent Capital Management LLC purchased a new stake in shares of Stryker in the fourth quarter worth $60,000. Sachetta LLC raised its position 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 period. Finally, Hazlett Burt & Watson Inc. lifted its stake in shares of Stryker by 17.9% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 264 shares of the medical technology company’s stock valued at $94,000 after buying an additional 40 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Stryker news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the transaction, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 transaction of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,068 shares of company stock valued at $71,811,372. Corporate insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Truist Financial decreased their price target on Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research note on Monday, September 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $386.00 target price on shares of Stryker in a report on Wednesday, July 31st. UBS Group raised their target price on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Evercore ISI decreased their price target on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $378.58.

Stryker Price Performance

Stryker stock opened at $366.53 on Tuesday. The firm has a market capitalization of $139.63 billion, a PE ratio of 41.84, a price-to-earnings-growth ratio of 2.87 and a beta of 0.91. The firm has a 50-day moving average price of $345.88 and a 200-day moving average price of $342.87. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $374.63. 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 posted 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. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the previous year, the business earned $2.54 EPS. Stryker’s revenue was up 8.5% compared to the same quarter last year. As a group, equities research analysts forecast that Stryker Co. will post 12 EPS for the current year.

Stryker Dividend Announcement

The business 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 dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio (DPR) 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.