InTrack Investment Management Inc Buys 271 Shares of Stryker Co. (NYSE:SYK)

InTrack Investment Management Inc grew its stake in shares of Stryker Co. (NYSE:SYK) by 8.1% during the third quarter, Holdings Channel reports. The institutional investor owned 3,612 shares of the medical technology company’s stock after purchasing an additional 271 shares during the quarter. InTrack Investment Management Inc’s holdings in Stryker were worth $1,305,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SYK. Centennial Bank AR grew its stake in shares of Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after buying an additional 48 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Stryker in the first quarter worth about $39,000. HBW Advisory Services LLC bought a new stake in shares of Stryker in the third quarter worth about $42,000. Accent Capital Management LLC bought a new stake in shares of Stryker in the fourth quarter worth about $60,000. Finally, Sachetta LLC grew its stake in shares of Stryker by 16.3% in the second quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after purchasing an additional 34 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Stryker Price Performance

SYK stock opened at $355.60 on Friday. The firm has a 50 day moving average price of $351.84 and a 200-day moving average price of $343.05. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $374.63. The firm 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 debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The company had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period in the previous year, the business earned $2.54 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities research analysts forecast that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Dividend Announcement

The company 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 $0.80 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.90%. Stryker’s payout ratio is currently 36.53%.

Insider Buying and Selling

In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at $949,716. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now owns 2,852 shares of the company’s stock, valued at approximately $949,716. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 220,068 shares of company stock worth $71,811,372 in the last three months. Insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the topic of several recent analyst reports. Wolfe Research initiated coverage on Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price on the stock. Truist Financial cut their target price on Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Barclays raised their target price on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Evercore ISI raised their target price on Stryker from $365.00 to $380.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $380.00 price objective on shares of Stryker in a research report on Tuesday, September 10th. Four investment 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 currently has an average rating of “Moderate Buy” and an average price target of $379.37.

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.