Stryker Co. (NYSE:SYK) Shares Sold by Investment Advisory Group LLC

Investment Advisory Group LLC decreased its holdings in shares of Stryker Co. (NYSE:SYK) by 17.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 679 shares of the medical technology company’s stock after selling 142 shares during the quarter. Investment Advisory Group LLC’s holdings in Stryker were worth $245,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Koshinski Asset Management Inc. acquired a new stake in Stryker during the first quarter worth $795,000. Envestnet Portfolio Solutions Inc. boosted its position in shares of Stryker by 43.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock worth $6,617,000 after buying an additional 5,565 shares during the period. Norden Group LLC purchased a new position in shares of Stryker during the first quarter worth $4,027,000. International Assets Investment Management LLC purchased a new position in shares of Stryker during the first quarter worth $21,970,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its position 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 worth $7,084,000 after buying an additional 5,502 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Activity

In other news, VP M Kathryn Fink sold 2,121 shares of the business’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 completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total value 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 $3,715,540. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 220,068 shares of company stock valued at $71,811,372. Insiders own 5.90% of the company’s stock.

Stryker Stock Down 0.2 %

Shares of NYSE:SYK traded down $0.73 on Tuesday, hitting $358.98. 975,374 shares of the company’s stock were exchanged, compared to its average volume of 1,256,347. The firm’s 50-day moving average is $352.72 and its 200 day moving average is $342.95. The company has a market capitalization of $136.75 billion, a PE ratio of 41.06, a P/E/G ratio of 2.73 and a beta of 0.91. Stryker Co. has a 1-year low of $255.22 and a 1-year high of $374.63. 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 released its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.02. The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.54 EPS. Sell-side analysts predict that Stryker Co. will post 12 EPS for the current year.

Stryker Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Barclays raised their price target on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Needham & Company LLC raised their price target on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. BTIG Research raised their price target on Stryker from $374.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday. UBS Group raised their price target on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Piper Sandler restated an “overweight” rating and set a $380.00 price target 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 issued a buy rating to the company. Based on data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and a consensus price target of $381.16.

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.