Stryker Co. (NYSE:SYK) Shares Sold by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd cut its holdings in Stryker Co. (NYSE:SYK) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 50,248 shares of the medical technology company’s stock after selling 1,325 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Stryker were worth $18,073,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake 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 valued at $11,258,373,000 after purchasing an additional 309,592 shares during the period. JPMorgan Chase & Co. increased its stake in Stryker by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after purchasing an additional 813,311 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of Stryker by 2.9% in 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 acquiring an additional 66,482 shares in the last quarter. TD Asset Management Inc boosted its holdings in shares of 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 valued at $573,086,000 after acquiring an additional 44,765 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings 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 acquiring an additional 46,375 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $386.00 price objective on shares of Stryker in a research report on Wednesday, July 31st. Needham & Company LLC upped their target price on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus decreased their target price on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. UBS Group upped their target price on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Piper Sandler restated an “overweight” rating and issued a $380.00 target price on shares of Stryker in a research note on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $381.16.

Stryker Price Performance

Stryker stock traded down $5.05 during trading hours on Friday, hitting $354.85. 265,912 shares of the company traded hands, compared to its average volume of 1,243,025. The firm has a market cap of $135.18 billion, a P/E ratio of 41.08, a P/E/G ratio of 2.83 and a beta of 0.91. 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 firm’s 50-day simple moving average is $357.99 and its two-hundred day simple moving average is $343.59. Stryker Co. has a 1-year low of $255.22 and a 1-year high of $374.63.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.79 by $0.02. The firm had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. Stryker’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company earned $2.54 EPS. As a group, analysts forecast that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is currently 36.53%.

Insider Activity at Stryker

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were 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 directly owns 2,852 shares in the company, valued at approximately $949,716. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the transaction, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,068 shares of company stock valued at $71,811,372. Corporate insiders own 5.90% of the company’s stock.

Stryker Company 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.