Invst LLC Has $397,000 Stock Position in Stryker Co. (NYSE:SYK)

Invst LLC reduced its stake in shares of Stryker Co. (NYSE:SYK) by 5.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,181 shares of the medical technology company’s stock after selling 71 shares during the quarter. Invst LLC’s holdings in Stryker were worth $397,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Stryker by 19.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 47,704 shares of the medical technology company’s stock worth $16,234,000 after purchasing an additional 7,879 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Stryker by 36.1% in the second quarter. NewEdge Advisors LLC now owns 22,854 shares of the medical technology company’s stock valued at $7,776,000 after buying an additional 6,066 shares in the last quarter. Silver Lake Advisory LLC acquired a new stake in Stryker in the second quarter valued at about $296,000. Copperwynd Financial LLC boosted its stake in Stryker by 9.4% in the second quarter. Copperwynd Financial LLC now owns 2,271 shares of the medical technology company’s stock valued at $744,000 after buying an additional 196 shares in the last quarter. Finally, Creative Planning boosted its stake in Stryker by 0.9% in the second quarter. Creative Planning now owns 79,875 shares of the medical technology company’s stock valued at $27,178,000 after buying an additional 716 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Trading Up 0.5 %

SYK opened at $361.26 on Tuesday. The business has a 50 day simple moving average of $348.29 and a two-hundred day simple moving average of $343.00. The firm has a market capitalization of $137.62 billion, a price-to-earnings ratio of 41.24, a PEG ratio of 2.78 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. Stryker Co. has a one year low of $249.98 and a one year high of $374.63.

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, topping 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 firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the prior year, the company earned $2.54 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. Analysts predict that Stryker Co. will post 12 EPS for the current year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.89%. Stryker’s payout ratio is currently 36.53%.

Insider Buying and Selling

In related news, insider Viju Menon sold 600 shares of the company’s 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 sale, the insider now 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 accessible through this link. In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Viju Menon sold 600 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now owns 9,069 shares in the company, valued at $3,219,495. The disclosure for this sale can be found here. Insiders have sold 220,068 shares of company stock worth $71,811,372 in the last 90 days. Insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SYK. Barclays raised their price objective on Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. BTIG Research raised their price objective on Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Wolfe Research began coverage on Stryker in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $386.00 target price on shares of Stryker in a research report on Wednesday, July 31st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $380.00 target price on shares of Stryker in a research report on Tuesday, September 10th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $378.58.

About Stryker

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.