Stryker Co. (NYSE:SYK) Stock Holdings Decreased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lessened its position in Stryker Co. (NYSE:SYK) by 3.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 361,473 shares of the medical technology company’s stock after selling 14,722 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Stryker were worth $122,991,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Stryker in the fourth quarter worth approximately $1,260,562,000. Global Assets Advisory LLC purchased a new stake in Stryker in the 1st quarter worth approximately $341,049,000. JPMorgan Chase & Co. boosted its stake in shares of Stryker by 10.4% during the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after buying an additional 813,311 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Stryker by 5.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after acquiring an additional 642,178 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its stake in shares of Stryker by 146.9% in the first quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock worth $314,449,000 after acquiring an additional 522,817 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Activity

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the sale, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Stryker 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 sale, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at approximately $949,716. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 210,600 shares of company stock valued at $68,330,400. Insiders own 5.90% of the company’s stock.

Stryker Stock Performance

NYSE:SYK traded up $0.92 during mid-day trading on Friday, hitting $358.92. 1,001,435 shares of the company’s stock traded hands, compared to its average volume of 1,295,614. 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 firm has a 50 day moving average of $339.06 and a two-hundred day moving average of $341.98. The firm has a market capitalization of $136.78 billion, a price-to-earnings ratio of 40.97, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $364.36.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the prior year, the business earned $2.54 earnings per share. Stryker’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, equities analysts forecast that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.80 per share. The ex-dividend date is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.89%. Stryker’s payout ratio is 36.53%.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of research reports. Morgan Stanley lifted their price objective on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. Truist Financial cut their price objective on shares of Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. UBS Group boosted their target price on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus cut their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average price target of $377.11.

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.