PDS Planning Inc Acquires 74 Shares of Stryker Co. (NYSE:SYK)

PDS Planning Inc increased its holdings in shares of Stryker Co. (NYSE:SYK) by 5.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,422 shares of the medical technology company’s stock after purchasing an additional 74 shares during the period. PDS Planning Inc’s holdings in Stryker were worth $514,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of SYK. International Assets Investment Management LLC boosted its position in Stryker by 66,967.5% during the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after purchasing an additional 852,496 shares during the last quarter. JPMorgan Chase & Co. increased its holdings 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 worth $3,096,078,000 after buying an additional 813,311 shares during the last quarter. 1832 Asset Management L.P. lifted its stake in Stryker by 146.9% in the first 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 last quarter. American Century Companies Inc. grew its position in shares of Stryker by 287.6% in the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock valued at $172,033,000 after acquiring an additional 375,166 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Stryker by 1.0% in the 1st 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. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SYK shares. Barclays increased their price target on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Stifel Nicolaus dropped their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Morgan Stanley upped their price target on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Piper Sandler restated an “overweight” rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Finally, Truist Financial increased their target price on Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Stock Down 0.1 %

NYSE SYK opened at $366.90 on Tuesday. The company 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. The stock has a 50 day moving average price of $360.43 and a 200-day moving average price of $344.64. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. Stryker Co. has a one year low of $266.93 and a one year high of $374.63.

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

Stryker Dividend Announcement

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

Insider Buying and Selling

In related news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Viju Menon sold 600 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the transaction, the vice president now owns 10,042 shares in the company, valued at $3,715,540. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,068 shares of company stock worth $3,693,972 in the last three months. Corporate insiders own 5.50% of the company’s stock.

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.