Stryker Co. (NYSE:SYK) Stock Position Lifted by SteelPeak Wealth LLC

SteelPeak Wealth LLC boosted its stake in shares of Stryker Co. (NYSE:SYK) by 7.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 796 shares of the medical technology company’s stock after purchasing an additional 54 shares during the period. SteelPeak Wealth LLC’s holdings in Stryker were worth $288,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Centennial Bank AR lifted its stake in Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 48 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in Stryker in the first quarter valued at approximately $39,000. HBW Advisory Services LLC acquired a new stake in Stryker in the third quarter valued at approximately $42,000. Grove Bank & Trust lifted its stake in Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after acquiring an additional 56 shares during the last quarter. Finally, DT Investment Partners LLC lifted its stake in Stryker by 114.3% in the third quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock valued at $49,000 after acquiring an additional 72 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Stryker

In other news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the transaction, the vice president now directly owns 10,042 shares in the company, valued at $3,685,213.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,685,213.16. This trade represents a 0.00 % decrease in their position. 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 firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 200,068 shares of company stock worth $65,151,372 in the last three months. Insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Evercore ISI lifted their target price on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday. Barclays boosted their price objective on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research note on Thursday. Citigroup boosted their price objective on shares of Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $393.65.

Stryker Stock Performance

Shares of SYK opened at $356.28 on Friday. The firm’s 50 day moving average price is $359.90 and its two-hundred day moving average price is $344.06. The firm has a market cap of $135.77 billion, a P/E ratio of 38.19, a PEG ratio of 2.79 and a beta of 0.91. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.95 and a current ratio of 1.91. Stryker Co. has a twelve month low of $264.85 and a twelve month high of $374.63.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.78 by $0.09. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.46 EPS. On average, analysts forecast that Stryker Co. will post 12.05 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.90%. Stryker’s dividend payout ratio is 34.30%.

Stryker Company 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.