Mutual Advisors LLC Boosts Stock Position in Stryker Co. (NYSE:SYK)

Mutual Advisors LLC grew its holdings in shares of Stryker Co. (NYSE:SYK) by 9.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 5,562 shares of the medical technology company’s stock after acquiring an additional 457 shares during the quarter. Mutual Advisors LLC’s holdings in Stryker were worth $2,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Stryker by 1.0% in the first quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock worth $11,258,373,000 after acquiring an additional 309,592 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Stryker by 10.4% in the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after purchasing an additional 813,311 shares during the period. Clearbridge Investments LLC grew its holdings in Stryker by 2.9% during the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock valued at $790,554,000 after purchasing an additional 66,482 shares during the period. TD Asset Management Inc increased its position in Stryker by 2.9% in the first quarter. TD Asset Management Inc now owns 1,601,380 shares of the medical technology company’s stock worth $573,086,000 after buying an additional 44,765 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Stryker by 4.0% in the second quarter. The Manufacturers Life Insurance Company now owns 1,209,769 shares of the medical technology company’s stock valued at $411,624,000 after buying an additional 46,375 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Viju Menon sold 600 shares of Stryker stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the transaction, the insider now directly owns 9,069 shares in the company, 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. Over the last three months, insiders have sold 200,068 shares of company stock valued at $65,151,372. 5.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Royal Bank of Canada lifted their price objective on Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday. Morgan Stanley boosted their price target on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. JPMorgan Chase & Co. raised their price objective on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday. Evercore ISI boosted their target price on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Truist Financial raised their price target on Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and an average price target of $393.65.

Stryker Price Performance

SYK opened at $356.28 on Friday. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $135.72 billion, a P/E ratio of 40.67, a PEG ratio of 2.73 and a beta of 0.91. The stock has a 50-day moving average price of $359.90 and a 200-day moving average price of $344.06. Stryker Co. has a 12-month low of $264.85 and a 12-month high of $374.63.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.78 by $0.09. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. Stryker’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.46 earnings per share. Equities analysts predict that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.90%. Stryker’s payout ratio 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.