Candriam S.C.A. Sells 39,030 Shares of Stryker Co. (NYSE:SYK)

Candriam S.C.A. decreased its holdings in Stryker Co. (NYSE:SYK) by 20.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 151,965 shares of the medical technology company’s stock after selling 39,030 shares during the quarter. Candriam S.C.A.’s holdings in Stryker were worth $51,704,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SYK. Norges Bank acquired a new stake in Stryker in the 4th quarter valued at $1,260,562,000. Global Assets Advisory LLC bought a new position in shares of Stryker during the 1st quarter valued at approximately $341,049,000. JPMorgan Chase & Co. increased its stake in shares of Stryker by 10.4% during the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after purchasing an additional 813,311 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Stryker by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after buying an additional 642,178 shares during the period. Finally, 1832 Asset Management L.P. increased its stake in shares of Stryker by 146.9% in the first quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock worth $314,449,000 after purchasing an additional 522,817 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Performance

NYSE SYK opened at $358.92 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. The stock has a market cap of $136.78 billion, a price-to-earnings ratio of 40.97, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. The business has a fifty day moving average of $339.06 and a 200-day moving average of $341.98. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $364.36.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. The firm 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%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.54 EPS. As a group, analysts predict that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

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

Insider Activity

In other Stryker 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 transaction of $213,000.00. Following the transaction, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the sale, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Viju Menon sold 600 shares of Stryker stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The disclosure for this sale can be found here. In the last 90 days, insiders sold 210,600 shares of company stock worth $68,330,400. Insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on SYK shares. Morgan Stanley increased their price objective on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Stifel Nicolaus reduced their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Truist Financial decreased their price objective on Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Barclays upped their price objective on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $377.11.

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.