Stryker Co. (NYSE:SYK) Shares Acquired by Payden & Rygel

Payden & Rygel grew its position in Stryker Co. (NYSE:SYK) by 0.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 51,700 shares of the medical technology company’s stock after purchasing an additional 200 shares during the period. Stryker makes up approximately 1.4% of Payden & Rygel’s holdings, making the stock its 25th biggest position. Payden & Rygel’s holdings in Stryker were worth $18,677,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in SYK. Moran Wealth Management LLC raised its stake in Stryker by 0.4% during the 3rd quarter. Moran Wealth Management LLC now owns 9,047 shares of the medical technology company’s stock valued at $3,268,000 after acquiring an additional 34 shares in the last quarter. Moors & Cabot Inc. raised its stake in shares of Stryker by 0.4% during the third quarter. Moors & Cabot Inc. now owns 10,643 shares of the medical technology company’s stock valued at $3,845,000 after purchasing an additional 40 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in Stryker in the third quarter worth about $36,000. Howe & Rusling Inc. grew its position in Stryker by 1.7% in the 3rd quarter. Howe & Rusling Inc. now owns 34,720 shares of the medical technology company’s stock valued at $12,543,000 after buying an additional 594 shares in the last quarter. Finally, NS Partners Ltd lifted its stake in shares of Stryker by 1.3% in the 3rd quarter. NS Partners Ltd now owns 113,066 shares of the medical technology company’s stock worth $40,846,000 after acquiring an additional 1,488 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SYK shares. Needham & Company LLC upped their price target on shares of Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada raised their target price on shares of Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and issued a $420.00 target price (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. UBS Group raised their target price on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Evercore ISI increased their price objective on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a report 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, Stryker currently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Stock Performance

NYSE SYK traded down $4.39 during midday trading on Wednesday, hitting $384.29. The company had a trading volume of 167,896 shares, compared to its average volume of 1,266,447. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The firm has a fifty day simple moving average of $365.08 and a two-hundred day simple moving average of $348.40. Stryker Co. has a fifty-two week low of $285.79 and a fifty-two week high of $398.20. The stock has a market cap of $146.50 billion, a price-to-earnings ratio of 41.66, a P/E/G ratio of 2.94 and a beta of 0.91.

Stryker (NYSE:SYK) last announced its quarterly earnings data 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. The company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the company earned $2.46 EPS. Equities analysts forecast that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Insider Activity

In other news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. This represents a 17.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Viju Menon sold 600 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the sale, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. This trade represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,381 shares of company stock worth $24,825,275. 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.