CX Institutional Buys 130 Shares of Stryker Co. (NYSE:SYK)

CX Institutional grew its stake in Stryker Co. (NYSE:SYK) by 3.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 3,478 shares of the medical technology company’s stock after purchasing an additional 130 shares during the quarter. CX Institutional’s holdings in Stryker were worth $1,257,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Sivia Capital Partners LLC boosted its holdings in Stryker by 6.2% in the third quarter. Sivia Capital Partners LLC now owns 1,010 shares of the medical technology company’s stock worth $365,000 after acquiring an additional 59 shares in the last quarter. Grove Bank & Trust boosted its holdings in Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after acquiring an additional 56 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Stryker by 11.6% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,819 shares of the medical technology company’s stock worth $2,103,000 after purchasing an additional 606 shares during the last quarter. Woodstock Corp raised its stake in shares of Stryker by 2.8% in the third quarter. Woodstock Corp now owns 16,068 shares of the medical technology company’s stock worth $5,805,000 after purchasing an additional 440 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA raised its stake in shares of Stryker by 145.0% in the third quarter. Compagnie Lombard Odier SCmA now owns 1,360 shares of the medical technology company’s stock worth $491,000 after purchasing an additional 805 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Insider Transactions at Stryker

In other news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The trade was a 0.00 % decrease in their ownership of the stock. 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 over the last 90 days. Company insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

SYK has been the subject of several recent analyst reports. Morgan Stanley boosted their price target on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Needham & Company LLC boosted their price target on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Truist Financial boosted their price target on Stryker from $345.00 to $370.00 and gave the stock a “hold” rating in a research note on Monday. Stifel Nicolaus decreased their price target on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, BTIG Research upped their price objective on Stryker from $374.00 to $383.00 and gave the company a “buy” rating in a research report on Monday. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $381.16.

Stryker Stock Performance

Shares of SYK opened at $361.38 on Thursday. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. The business has a 50-day simple moving average of $354.28 and a two-hundred day simple moving average of $343.09. The stock has a market cap of $137.67 billion, a price-to-earnings ratio of 41.25, a PEG ratio of 2.78 and a beta of 0.91. Stryker Co. has a 52 week low of $255.22 and a 52 week high of $374.63.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. The firm had revenue of $5.42 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the company posted $2.54 earnings per share. On average, analysts expect that Stryker Co. will post 12 EPS for the current year.

Stryker Dividend Announcement

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 paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is 36.53%.

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.