Stryker Co. (NYSE:SYK) Shares Sold by Ninety One UK Ltd

Ninety One UK Ltd trimmed its position in Stryker Co. (NYSE:SYK) by 5.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,465 shares of the medical technology company’s stock after selling 2,847 shares during the quarter. Ninety One UK Ltd’s holdings in Stryker were worth $17,511,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of SYK. Burkett Financial Services LLC acquired a new stake in shares of Stryker during the 4th quarter worth approximately $25,000. Rogco LP purchased a new position in Stryker in the fourth quarter valued at $30,000. DSM Capital Partners LLC purchased a new stake in shares of Stryker during the 4th quarter worth about $34,000. Central Pacific Bank Trust Division acquired a new stake in shares of Stryker during the 1st quarter valued at about $39,000. Finally, Private Wealth Management Group LLC purchased a new position in shares of Stryker in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the transaction, the director now owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 2,852 shares of the company’s stock, valued at $949,716. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the sale, the director now owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Stryker Trading Up 0.8 %

Shares of NYSE:SYK traded up $2.65 during midday trading on Tuesday, reaching $343.71. 217,949 shares of the company’s stock were exchanged, compared to its average volume of 1,310,606. The firm’s 50 day simple moving average is $335.67 and its two-hundred day simple moving average is $340.80. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. 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 $130.94 billion, a price-to-earnings ratio of 39.18, a P/E/G ratio of 2.61 and a beta of 0.89.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating the consensus estimate 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%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.54 EPS. As a group, sell-side analysts forecast that Stryker Co. will post 11.99 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed 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 0.93%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio is presently 36.53%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Truist Financial reduced their target price on Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Barclays lifted their target price on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Stifel Nicolaus reduced their target price on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Wells Fargo & Company upped their price objective on shares of Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Finally, Evercore ISI decreased their target price 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. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $373.11.

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.