Stephens Inc. AR Lowers Position in Stryker Co. (NYSE:SYK)

Stephens Inc. AR reduced its stake in Stryker Co. (NYSE:SYK) by 5.1% during the third quarter, HoldingsChannel.com reports. The fund owned 12,900 shares of the medical technology company’s stock after selling 691 shares during the quarter. Stephens Inc. AR’s holdings in Stryker were worth $4,660,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of SYK. Centennial Bank AR boosted its position in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 48 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in Stryker during the first quarter valued at $39,000. HBW Advisory Services LLC bought a new position in Stryker during the third quarter valued at $42,000. Grove Bank & Trust grew its stake in shares of Stryker by 84.8% in the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after buying an additional 56 shares in the last quarter. Finally, DT Investment Partners LLC increased its holdings in shares of Stryker by 114.3% in the 3rd quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock worth $49,000 after buying an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

SYK has been the subject of several recent research reports. Royal Bank of Canada lifted their price target on Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a research report on Wednesday. Robert W. Baird lifted their target price on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday. Wells Fargo & Company raised their price target on Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday. Citigroup boosted their price objective on shares of Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Piper Sandler restated an “overweight” rating and issued a $420.00 target price (up previously from $380.00) on shares of Stryker in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $393.65.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was 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 of the company’s stock, valued at approximately $1,072,790,023.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction dated 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 sale, the vice president now directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 200,068 shares of company stock valued at $65,151,372 over the last 90 days. Corporate insiders own 5.90% of the company’s stock.

Stryker Trading Up 3.1 %

SYK opened at $367.15 on Friday. Stryker Co. has a 52 week low of $266.93 and a 52 week high of $374.63. The company has a market capitalization of $139.96 billion, a P/E ratio of 39.35, a PEG ratio of 2.69 and a beta of 0.91. The stock’s fifty day moving average is $360.18 and its two-hundred day moving average is $344.31. The company has a quick ratio of 0.95, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the previous year, the company posted $2.46 earnings per share. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. Analysts forecast that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend was Monday, September 30th. Stryker’s payout ratio is 34.30%.

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.