Stryker Co. (NYSE:SYK) Position Lowered by Cullinan Associates Inc.

Cullinan Associates Inc. reduced its position in Stryker Co. (NYSE:SYK) by 4.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,365 shares of the medical technology company’s stock after selling 366 shares during the quarter. Cullinan Associates Inc.’s holdings in Stryker were worth $2,713,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Koshinski Asset Management Inc. acquired a new stake in shares of Stryker during the 1st quarter worth approximately $795,000. Envestnet Portfolio Solutions Inc. lifted its stake in Stryker by 43.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock valued at $6,617,000 after buying an additional 5,565 shares during the last quarter. Norden Group LLC acquired a new position in shares of Stryker during the first quarter valued at $4,027,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings 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 valued at $7,084,000 after acquiring an additional 5,502 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Stryker by 78.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock worth $45,260,000 after acquiring an additional 58,673 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Down 1.8 %

Shares of SYK traded down $6.35 during trading hours on Friday, hitting $353.55. 91,772 shares of the company were exchanged, compared to its average volume of 1,242,184. The firm’s 50 day moving average is $357.99 and its 200-day moving average is $343.59. 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 Co. has a 52 week low of $255.22 and a 52 week high of $374.63. The company has a market cap of $134.68 billion, a PE ratio of 41.08, a PEG ratio of 2.83 and a beta of 0.91.

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, topping 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 firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the prior year, the business earned $2.54 earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. On average, equities research analysts forecast that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 0.91%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Morgan Stanley boosted their target price on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. UBS Group increased their price objective on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Piper Sandler reaffirmed an “overweight” rating and set a $380.00 target price on shares of Stryker in a research note on Tuesday, September 10th. Truist Financial increased their price target on Stryker from $345.00 to $370.00 and gave the stock a “hold” rating in a research note on Monday, October 14th. Finally, Wolfe Research began coverage on shares of Stryker in a research note on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and an average target price of $381.16.

Insiders Place Their Bets

In other news, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. 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 valued at $71,811,372 in the last quarter. Insiders own 5.90% of the company’s stock.

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.