Tyche Wealth Partners LLC Has $407,000 Stake in Stryker Co. (NYSE:SYK)

Tyche Wealth Partners LLC trimmed its position in Stryker Co. (NYSE:SYK) by 15.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,126 shares of the medical technology company’s stock after selling 198 shares during the period. Tyche Wealth Partners LLC’s holdings in Stryker were worth $407,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SYK. Centennial Bank AR increased its holdings in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the period. Central Pacific Bank Trust Division purchased a new stake in Stryker in the first quarter worth approximately $39,000. HBW Advisory Services LLC purchased a new position in shares of Stryker during the 3rd quarter worth $42,000. Grove Bank & Trust lifted its stake in shares of Stryker by 84.8% during the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after buying an additional 56 shares in the last quarter. Finally, DT Investment Partners LLC increased its holdings in Stryker by 114.3% in the 3rd 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. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Trading Up 1.1 %

SYK traded up $3.74 during trading on Tuesday, hitting $359.75. The company’s stock had a trading volume of 299,844 shares, compared to its average volume of 1,241,877. Stryker Co. has a twelve month low of $258.33 and a twelve month high of $374.63. 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’s fifty day moving average price is $359.10 and its 200-day moving average price is $343.72. The firm has a market capitalization of $137.05 billion, a P/E ratio of 40.65, a PEG ratio of 2.73 and a beta of 0.91.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. The business had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. Stryker’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.54 EPS. Analysts anticipate that Stryker Co. will post 12 EPS for the current year.

Stryker Dividend Announcement

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 issued a dividend of $0.80 per share. The ex-dividend date is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.89%. Stryker’s dividend payout ratio (DPR) is 36.53%.

Analyst Ratings Changes

SYK has been the subject of several research reports. BTIG Research boosted their price objective on shares of Stryker from $374.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 14th. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Wolfe Research assumed coverage on shares of Stryker in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price for the company. Truist Financial lifted their price target on shares of Stryker from $345.00 to $370.00 and gave the company a “hold” rating in a research report on Monday, October 14th. Finally, Barclays lifted their price objective on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $381.16.

Insider Buying and Selling

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. In related news, insider Viju Menon sold 600 shares of Stryker stock in a transaction that occurred 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 in the company, valued at $3,219,495. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction on 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 transaction, the vice president now owns 10,042 shares of the company’s stock, valued at $3,685,213.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 220,068 shares of company stock valued at $71,811,372. Corporate insiders own 5.90% of the company’s stock.

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.