Park Avenue Securities LLC Sells 339 Shares of Stryker Co. (NYSE:SYK)

Park Avenue Securities LLC reduced its position in Stryker Co. (NYSE:SYK) by 3.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,471 shares of the medical technology company’s stock after selling 339 shares during the quarter. Park Avenue Securities LLC’s holdings in Stryker were worth $3,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of SYK. Cetera Advisor Networks LLC raised its position in shares of Stryker by 4.1% during the fourth quarter. Cetera Advisor Networks LLC now owns 32,980 shares of the medical technology company’s stock valued at $9,876,000 after buying an additional 1,293 shares during the last quarter. Morningstar Investment Services LLC bought a new position in shares of Stryker during the 4th quarter valued at approximately $392,000. Epoch Investment Partners Inc. grew its holdings in shares of Stryker by 9.1% in the fourth quarter. Epoch Investment Partners Inc. now owns 4,205 shares of the medical technology company’s stock valued at $1,259,000 after purchasing an additional 350 shares in the last quarter. Stamos Capital Partners L.P. bought a new stake in Stryker in the fourth quarter worth $518,000. Finally, Seven Eight Capital LP purchased a new stake in Stryker during the fourth quarter valued at $1,592,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. UBS Group lifted their price target on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Piper Sandler reaffirmed an “overweight” rating and set a $380.00 price target on shares of Stryker in a research note on Tuesday, September 10th. Needham & Company LLC upped their price target on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a report on Thursday, August 1st. BTIG Research raised their price objective on shares of Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Finally, Stifel Nicolaus cut their target price on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $379.37.

Insider Buying and Selling at Stryker

In related news, VP M Kathryn Fink sold 2,121 shares of the business’s 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 completion of the transaction, the vice president now owns 10,042 shares in the company, valued at $3,715,540. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP M Kathryn Fink sold 2,121 shares of the business’s 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 transaction, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the 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 approximately $949,716. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 220,068 shares of company stock worth $71,811,372 over the last quarter. Insiders own 5.90% of the company’s stock.

Stryker Stock Down 0.1 %

Shares of Stryker stock opened at $351.22 on Friday. Stryker Co. has a 1 year low of $249.98 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 stock has a market cap of $133.80 billion, a price-to-earnings ratio of 40.09, a PEG ratio of 2.74 and a beta of 0.91. The firm’s 50-day moving average is $349.77 and its two-hundred day moving average is $343.06.

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, beating the consensus estimate of $2.79 by $0.02. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. Stryker’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company posted $2.54 earnings per share. As a group, research analysts expect that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors 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 yield of 0.91%. The ex-dividend date is Monday, September 30th. Stryker’s payout ratio is currently 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.