Ashton Thomas Private Wealth LLC Sells 148 Shares of Stryker Co. (NYSE:SYK)

Ashton Thomas Private Wealth LLC decreased its position in Stryker Co. (NYSE:SYK) by 1.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,146 shares of the medical technology company’s stock after selling 148 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Stryker were worth $4,813,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Stryker in the 4th quarter worth approximately $1,260,562,000. Global Assets Advisory LLC purchased a new stake in Stryker during the first quarter valued at approximately $341,049,000. JPMorgan Chase & Co. raised its position 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 worth $3,096,078,000 after acquiring an additional 813,311 shares during the period. Price T Rowe Associates Inc. MD boosted its stake 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 worth $3,755,782,000 after acquiring an additional 642,178 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its position in shares of Stryker by 146.9% during the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock valued at $314,449,000 after acquiring an additional 522,817 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SYK has been the topic of several analyst reports. Truist Financial lowered their target price on Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. 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. Stifel Nicolaus reduced their target price on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Barclays lifted their price target on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Needham & Company LLC increased their price objective on shares of Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $377.11.

Stryker Trading Up 0.3 %

SYK stock opened at $358.92 on Monday. The firm has a market cap of $136.78 billion, a PE ratio of 40.97, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The firm has a fifty day moving average price of $339.06 and a 200 day moving average price of $341.90. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $364.36.

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

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given 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 dividend payout ratio (DPR) is presently 36.53%.

Insider Activity

In other 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 transaction of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 210,600 shares of company stock valued at $68,330,400. 5.90% of the stock is currently owned by insiders.

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.