Stryker Co. (NYSE:SYK) Position Lessened by Novare Capital Management LLC

Novare Capital Management LLC reduced its stake in shares of Stryker Co. (NYSE:SYKFree Report) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,793 shares of the medical technology company’s stock after selling 461 shares during the quarter. Stryker comprises approximately 1.1% of Novare Capital Management LLC’s holdings, making the stock its 26th largest position. Novare Capital Management LLC’s holdings in Stryker were worth $13,292,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Stryker by 11.6% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,819 shares of the medical technology company’s stock worth $2,103,000 after acquiring an additional 606 shares during the period. Woodstock Corp increased its stake in shares of Stryker by 2.8% in the third quarter. Woodstock Corp now owns 16,068 shares of the medical technology company’s stock valued at $5,805,000 after purchasing an additional 440 shares during the period. Compagnie Lombard Odier SCmA raised its holdings in shares of Stryker by 145.0% during the third quarter. Compagnie Lombard Odier SCmA now owns 1,360 shares of the medical technology company’s stock valued at $491,000 after buying an additional 805 shares during the last quarter. Douglas Lane & Associates LLC boosted its position in shares of Stryker by 40.5% during the third quarter. Douglas Lane & Associates LLC now owns 1,214 shares of the medical technology company’s stock worth $439,000 after buying an additional 350 shares during the period. Finally, McGuire Investment Group LLC grew its holdings in Stryker by 0.6% in the 3rd quarter. McGuire Investment Group LLC now owns 57,074 shares of the medical technology company’s stock worth $20,619,000 after buying an additional 325 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Trading Up 0.4 %

Shares of Stryker stock traded up $1.43 during trading on Monday, hitting $357.03. The stock had a trading volume of 115,490 shares, compared to its average volume of 1,254,818. Stryker Co. has a 1 year low of $255.22 and a 1 year high of $374.63. The stock has a 50 day simple moving average of $351.84 and a 200 day simple moving average of $342.94. 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 company has a market capitalization of $136.01 billion, a PE ratio of 40.65, a P/E/G ratio of 2.73 and a beta of 0.91.

Stryker (NYSE:SYKGet Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping 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%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.54 EPS. On average, research analysts expect that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed 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 of this dividend is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.90%. Stryker’s payout ratio is presently 36.53%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Truist Financial boosted their price target on Stryker from $345.00 to $370.00 and gave the stock a “hold” rating in a research report on Monday. Stifel Nicolaus lowered their target price on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. BTIG Research upped their price target on shares of Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Evercore ISI raised their price objective on shares of Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, Piper Sandler restated an “overweight” rating and issued a $380.00 target price on shares of Stryker in a research report on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus target price of $380.68.

Get Our Latest Stock Report on SYK

Insider Buying and Selling at Stryker

In related news, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 value of $6,660,000.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 220,068 shares of company stock valued at $71,811,372 in the last 90 days. 5.90% of the stock is currently owned by corporate insiders.

Stryker Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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