Stryker Co. (NYSE:SYK) Shares Sold by Great Diamond Partners LLC

Great Diamond Partners LLC lowered its stake in shares of Stryker Co. (NYSE:SYK) by 20.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 912 shares of the medical technology company’s stock after selling 234 shares during the period. Great Diamond Partners LLC’s holdings in Stryker were worth $329,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its holdings in shares of Stryker by 66,967.5% in the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after buying an additional 852,496 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Stryker by 10.4% in the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after buying an additional 813,311 shares during the period. 1832 Asset Management L.P. raised its holdings in shares of Stryker by 146.9% in the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock valued at $314,449,000 after buying an additional 522,817 shares during the period. American Century Companies Inc. raised its holdings in shares of Stryker by 287.6% in the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock valued at $172,033,000 after buying an additional 375,166 shares during the period. Finally, Vanguard Group Inc. grew its stake in Stryker by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock worth $11,258,373,000 after purchasing an additional 309,592 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insiders Place Their Bets

In other news, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction that occurred on Tuesday, September 17th. The stock was 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 approximately $3,685,213.16. The trade was 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 other news, insider Viju Menon sold 600 shares of the business’s 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 completion of the transaction, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP M Kathryn Fink sold 7,347 shares of the company’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 owns 10,042 shares in the company, valued at $3,685,213.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,068 shares of company stock valued at $71,811,372 in the last 90 days. 5.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SYK shares. Truist Financial boosted their target price on Stryker from $345.00 to $370.00 and gave the stock a “hold” rating in a research note on Monday, October 14th. Royal Bank of Canada reissued an “outperform” rating and set a $386.00 target price on shares of Stryker in a research note on Wednesday, July 31st. Piper Sandler reissued an “overweight” rating and set a $380.00 target price on shares of Stryker in a research note on Tuesday, September 10th. Needham & Company LLC upped their price objective on Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Morgan Stanley upped their price objective on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $383.42.

Stryker Price Performance

Shares of SYK opened at $359.25 on Wednesday. The stock has a market cap of $136.86 billion, a P/E ratio of 41.01, a price-to-earnings-growth ratio of 2.73 and a beta of 0.91. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The stock’s 50-day moving average price is $359.43 and its two-hundred day moving average price is $343.84. Stryker Co. has a 1 year low of $258.33 and a 1 year high of $374.63.

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 analysts’ consensus estimates of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter last year, the firm earned $2.54 EPS. Stryker’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, equities analysts predict that Stryker Co. will post 12 earnings per share for the current year.

Stryker Dividend Announcement

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

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.