Stryker Co. (NYSE:SYK) Shares Sold by SPC Financial Inc.

SPC Financial Inc. reduced its position in Stryker Co. (NYSE:SYK) by 5.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 996 shares of the medical technology company’s stock after selling 54 shares during the quarter. SPC Financial Inc.’s holdings in Stryker were worth $339,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Central Pacific Bank Trust Division purchased a new stake in Stryker during the 1st quarter worth about $39,000. Accent Capital Management LLC purchased a new stake in shares of Stryker during the fourth quarter worth approximately $60,000. Sachetta LLC lifted its stake in Stryker by 16.3% in the second quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after acquiring an additional 34 shares during the last quarter. Hazlett Burt & Watson Inc. grew its holdings in Stryker by 17.9% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 264 shares of the medical technology company’s stock worth $94,000 after acquiring an additional 40 shares in the last quarter. Finally, Rise Advisors LLC increased its position in shares of Stryker by 144.6% in the 1st quarter. Rise Advisors LLC now owns 274 shares of the medical technology company’s stock valued at $98,000 after purchasing an additional 162 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SYK shares. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a report on Tuesday. Morgan Stanley lifted their price target on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Piper Sandler reissued an “overweight” rating and issued a $380.00 price objective on shares of Stryker in a report on Tuesday, September 10th. Evercore ISI raised their target price on shares of Stryker from $365.00 to $380.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Truist Financial reduced their price target on shares of Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $379.37.

Stryker Price Performance

Shares of NYSE:SYK opened at $357.36 on Wednesday. The business’s 50 day simple moving average is $348.60 and its 200-day simple moving average is $343.04. The firm has a market capitalization of $136.14 billion, a price-to-earnings ratio of 40.79, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. Stryker Co. has a 12 month low of $249.98 and a 12 month 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.

Stryker (NYSE:SYK) last issued its quarterly earnings data 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. The firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.54 EPS. As a group, equities analysts forecast that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Monday, September 30th. Stryker’s payout ratio is 36.53%.

Insider Activity

In related news, insider Viju Menon sold 600 shares of the stock in a transaction dated 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 $3,219,495. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Viju Menon sold 600 shares of Stryker stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP M Kathryn Fink sold 2,121 shares of Stryker 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 disclosure for this sale can be found here. Insiders sold a total of 220,068 shares of company stock valued at $71,811,372 over the last quarter. Company insiders own 5.90% of the company’s stock.

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.