Stryker Co. (NYSE:SYK) Position Reduced by Cary Street Partners Asset Management LLC

Cary Street Partners Asset Management LLC lessened its stake in Stryker Co. (NYSE:SYK) by 1.1% during the third quarter, HoldingsChannel.com reports. The firm owned 6,359 shares of the medical technology company’s stock after selling 70 shares during the period. Cary Street Partners Asset Management LLC’s holdings in Stryker were worth $2,297,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Centennial Bank AR lifted its holdings in Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in Stryker in the first quarter worth $39,000. HBW Advisory Services LLC bought a new stake in Stryker during the third quarter valued at $42,000. Grove Bank & Trust raised its holdings in shares of Stryker by 84.8% during the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 56 shares during the period. Finally, DT Investment Partners LLC lifted its position in shares of Stryker by 114.3% in the 3rd quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock worth $49,000 after buying an additional 72 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Insider Activity

In other news, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction dated 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 sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,685,213.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the business’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 sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,685,213.16. 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 is available at this hyperlink. Also, insider Viju Menon sold 600 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,068 shares of company stock worth $3,693,972 in the last ninety days. Corporate insiders own 5.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Piper Sandler reiterated an “overweight” rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Stifel Nicolaus dropped their target price on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. UBS Group increased their price objective on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. BTIG Research boosted their target price on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Barclays boosted their price objective on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Stock Down 0.1 %

SYK stock opened at $366.90 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The firm has a market capitalization of $139.87 billion, a P/E ratio of 39.32, a P/E/G ratio of 2.77 and a beta of 0.91. Stryker Co. has a 52-week low of $266.93 and a 52-week high of $374.63. The company’s 50 day simple moving average is $360.43 and its 200-day simple moving average is $344.64.

Stryker (NYSE:SYK) last announced its 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 net margin of 16.34% and a return on equity of 23.07%. The company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the previous year, the business earned $2.46 EPS. The company’s revenue was up 11.9% on a year-over-year basis. As a group, equities research analysts anticipate that Stryker Co. will post 12.06 EPS for the current year.

Stryker Dividend Announcement

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

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.