788 Shares in Stryker Co. (NYSE:SYK) Acquired by Janney Capital Management LLC

Janney Capital Management LLC bought a new stake in shares of Stryker Co. (NYSE:SYK) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 788 shares of the medical technology company’s stock, valued at approximately $285,000.

Several other hedge funds have also made changes to their positions in the company. Norden Group LLC bought a new position in Stryker during the 1st quarter worth about $280,000. Lincoln National Corp lifted its position in shares of Stryker by 3.0% in the 1st quarter. Lincoln National Corp now owns 7,159 shares of the medical technology company’s stock worth $2,562,000 after purchasing an additional 210 shares during the period. Jennison Associates LLC boosted its stake in shares of Stryker by 3.2% during the first quarter. Jennison Associates LLC now owns 214,900 shares of the medical technology company’s stock valued at $76,906,000 after purchasing an additional 6,763 shares in the last quarter. Whittier Trust Co. increased its holdings in Stryker by 4.2% during the first quarter. Whittier Trust Co. now owns 3,346 shares of the medical technology company’s stock valued at $1,197,000 after buying an additional 134 shares during the period. Finally, Central Pacific Bank Trust Division bought a new position in Stryker in the first quarter worth approximately $39,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SYK shares. Piper Sandler reiterated an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Royal Bank of Canada boosted their target price on shares of Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Barclays raised their price target on shares of Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a report on Thursday. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Finally, Robert W. Baird raised their target price on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Stock Up 3.1 %

SYK stock opened at $367.15 on Monday. The company has a market capitalization of $139.96 billion, a P/E ratio of 39.35, a price-to-earnings-growth ratio of 2.69 and a beta of 0.91. Stryker Co. has a 12 month low of $266.93 and a 12 month high of $374.63. The firm’s fifty day simple moving average is $360.18 and its 200-day simple moving average is $344.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 0.95.

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

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Monday, September 30th. Stryker’s payout ratio is presently 34.30%.

Insider Transactions at Stryker

In related news, insider Viju Menon sold 600 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $3,715,540. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Viju Menon sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 200,068 shares of company stock valued at $65,151,372 in the last 90 days. 5.90% of the stock is currently owned by company insiders.

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.