CVA Family Office LLC Sells 142 Shares of Stryker Co. (NYSE:SYK)

CVA Family Office LLC trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 9.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,330 shares of the medical technology company’s stock after selling 142 shares during the period. CVA Family Office LLC’s holdings in Stryker were worth $480,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Koshinski Asset Management Inc. bought a new position in shares of Stryker during the 1st quarter worth approximately $795,000. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Stryker by 43.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock worth $6,617,000 after buying an additional 5,565 shares in the last quarter. Norden Group LLC bought a new position in shares of Stryker during the 1st quarter worth approximately $4,027,000. International Assets Investment Management LLC bought a new position in shares of Stryker during the 1st quarter worth approximately $21,970,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Stryker by 38.5% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock worth $7,084,000 after purchasing an additional 5,502 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SYK. Barclays upped their target price on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Evercore ISI upped their target price on Stryker from $365.00 to $380.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Truist Financial lowered their target price on Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Stifel Nicolaus lowered their target price on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $386.00 target price on shares of Stryker in a research report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $379.37.

Stryker Stock Performance

Shares of Stryker stock traded up $2.23 during trading hours on Friday, hitting $355.60. 787,931 shares of the company’s stock traded hands, compared to its average volume of 985,736. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $374.63. The stock has a market capitalization of $135.47 billion, a price-to-earnings ratio of 40.59, a PEG ratio of 2.73 and a beta of 0.91. The company has a fifty day simple moving average of $351.84 and a 200-day simple moving average of $343.05. 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 announced its earnings results 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. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the firm posted $2.54 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. Equities research analysts anticipate that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is 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 (DPR) is presently 36.53%.

Insider Activity

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the sale, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Viju Menon sold 600 shares of the firm’s 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 of the company’s stock, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s 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 transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 220,068 shares of company stock worth $71,811,372. 5.90% of the stock is currently owned by insiders.

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.