Nvest Financial LLC Boosts Stock Position in Stryker Co. (NYSE:SYK)

Nvest Financial LLC raised its position in shares of Stryker Co. (NYSE:SYK) by 126.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,577 shares of the medical technology company’s stock after buying an additional 880 shares during the period. Nvest Financial LLC’s holdings in Stryker were worth $570,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of SYK. Harbor Investment Advisory LLC lifted its position in Stryker by 0.4% in the first quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock valued at $2,499,000 after acquiring an additional 31 shares during the last quarter. Proficio Capital Partners LLC grew its stake in Stryker by 2.4% during the 1st quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock worth $507,000 after buying an additional 33 shares during the last quarter. Versant Capital Management Inc increased its position in Stryker by 4.0% during the second quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock worth $294,000 after buying an additional 33 shares during the period. Stanley Laman Group Ltd. lifted its stake in Stryker by 4.6% in the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock valued at $256,000 after buying an additional 33 shares during the last quarter. Finally, Plimoth Trust Co. LLC boosted its holdings in shares of Stryker by 0.3% in the second quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock valued at $3,224,000 after acquiring an additional 33 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the sale, the director now owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the transaction, the director now owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 220,068 shares of company stock valued at $71,811,372 over the last quarter. Insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

SYK has been the subject of several research reports. Truist Financial reduced their price target on shares of Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Needham & Company LLC increased their target price on shares of Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Wolfe Research began coverage on Stryker in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price target on the stock. Evercore ISI lifted their target price on Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, Morgan Stanley upped their price target on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $379.37.

Stryker Price Performance

Shares of Stryker stock traded up $2.47 on Friday, hitting $355.84. The company’s stock had a trading volume of 273,297 shares, compared to its average volume of 1,257,989. 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 firm has a fifty day moving average price of $351.36 and a 200-day moving average price of $343.07. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $374.63. The company has a market capitalization of $135.60 billion, a P/E ratio of 39.41, a price-to-earnings-growth 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 the consensus estimate of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the business earned $2.54 earnings per share. The company’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities research analysts expect that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a $0.80 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.90%. Stryker’s dividend payout ratio is currently 35.67%.

Stryker 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.