Stryker Co. (NYSE:SYK) Shares Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC lifted its position in shares of Stryker Co. (NYSE:SYK) by 14.0% during the third quarter, Holdings Channel reports. The firm owned 65,579 shares of the medical technology company’s stock after acquiring an additional 8,070 shares during the quarter. Sanctuary Advisors LLC’s holdings in Stryker were worth $25,238,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Unigestion Holding SA purchased a new stake in Stryker in the third quarter valued at approximately $580,000. Sunbelt Securities Inc. raised its stake in Stryker by 25.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 501 shares of the medical technology company’s stock valued at $181,000 after acquiring an additional 102 shares during the last quarter. Toronto Dominion Bank lifted its position in Stryker by 2.3% during the 3rd quarter. Toronto Dominion Bank now owns 173,965 shares of the medical technology company’s stock worth $62,847,000 after acquiring an additional 3,855 shares during the period. Neo Ivy Capital Management purchased a new position in shares of Stryker in the 3rd quarter valued at approximately $966,000. Finally, Wilson & Boucher Capital Management LLC increased its holdings in shares of Stryker by 0.6% in the third quarter. Wilson & Boucher Capital Management LLC now owns 8,770 shares of the medical technology company’s stock valued at $3,168,000 after purchasing an additional 50 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. The trade was a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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 began coverage on Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price on the stock. BTIG Research upped their target price on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $425.00 price target (up previously from $400.00) on shares of Stryker in a report on Wednesday. Needham & Company LLC lifted their price objective on Stryker from $409.00 to $442.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Piper Sandler reissued an “overweight” rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $404.35.

Stryker Stock Performance

Shares of Stryker stock opened at $375.01 on Friday. The stock has a market cap of $142.96 billion, a PE ratio of 40.19, a price-to-earnings-growth ratio of 2.84 and a beta of 0.94. Stryker Co. has a 12 month low of $285.79 and a 12 month high of $398.20. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The business has a fifty day simple moving average of $372.88 and a 200-day simple moving average of $354.65.

Stryker (NYSE:SYK) last released its earnings results 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. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.46 EPS. On average, sell-side analysts anticipate that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.90%. This is an increase from Stryker’s previous quarterly dividend of $0.80. 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.