Klingenstein Fields & Co. LP Boosts Position in Stryker Co. (NYSE:SYK)

Klingenstein Fields & Co. LP grew its position in Stryker Co. (NYSE:SYK) by 0.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 77,488 shares of the medical technology company’s stock after purchasing an additional 54 shares during the period. Klingenstein Fields & Co. LP’s holdings in Stryker were worth $27,993,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SYK. Vanguard Group Inc. increased its stake in shares of Stryker by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock worth $11,258,373,000 after purchasing an additional 309,592 shares in the last quarter. JPMorgan Chase & Co. grew its position in Stryker by 10.4% during 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 acquiring an additional 813,311 shares during the period. Clearbridge Investments LLC boosted its position 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 worth $790,554,000 after buying an additional 66,482 shares during the period. TD Asset Management Inc increased its stake in Stryker by 2.9% during the 1st 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 period. Finally, The Manufacturers Life Insurance Company grew its holdings in Stryker by 4.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,209,769 shares of the medical technology company’s stock worth $411,624,000 after acquiring an additional 46,375 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SYK shares. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. Barclays raised their target price on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research report on Thursday. UBS Group boosted their price target on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Truist Financial raised their target price on Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $393.65.

Insider Activity

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the transaction, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,715,540. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the sale, the director now directly owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 200,068 shares of company stock valued at $65,151,372. Insiders own 5.90% of the company’s stock.

Stryker Trading Up 3.1 %

Stryker stock opened at $367.15 on Monday. The stock has a market cap of $139.96 billion, a P/E ratio of 39.35, a P/E/G ratio of 2.69 and a beta of 0.91. Stryker Co. has a 12 month low of $266.93 and a 12 month high of $374.63. The company has a quick ratio of 0.95, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The company’s fifty day simple moving average is $360.18 and its 200-day simple moving average is $344.36.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period in the previous year, the company earned $2.46 EPS. The firm’s revenue was up 11.9% on a year-over-year basis. As a group, sell-side analysts forecast that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given a $0.80 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.87%. Stryker’s dividend payout ratio is currently 34.30%.

Stryker 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.