Commonwealth Equity Services LLC Sells 21,331 Shares of Stryker Co. (NYSE:SYK)

Commonwealth Equity Services LLC lowered its position in Stryker Co. (NYSE:SYK) by 11.8% in the third quarter, HoldingsChannel.com reports. The fund owned 159,220 shares of the medical technology company’s stock after selling 21,331 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Stryker were worth $57,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Park Avenue Securities LLC lifted its position in shares of Stryker by 8.7% in the first quarter. Park Avenue Securities LLC now owns 8,909 shares of the medical technology company’s stock valued at $3,188,000 after buying an additional 715 shares during the last quarter. Salem Investment Counselors Inc. lifted its holdings in Stryker by 119.4% during the 1st quarter. Salem Investment Counselors Inc. now owns 4,747 shares of the medical technology company’s stock valued at $1,703,000 after purchasing an additional 2,583 shares during the last quarter. Cooper Financial Group boosted its position in Stryker by 10.2% during the first quarter. Cooper Financial Group now owns 905 shares of the medical technology company’s stock worth $324,000 after purchasing an additional 84 shares during the period. Ballentine Partners LLC increased its holdings in shares of Stryker by 2.6% in the first quarter. Ballentine Partners LLC now owns 7,039 shares of the medical technology company’s stock valued at $2,519,000 after purchasing an additional 181 shares during the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in shares of Stryker in the first quarter valued at about $143,000. Institutional investors own 77.09% of the company’s stock.

Stryker Trading Up 2.7 %

Shares of NYSE SYK opened at $369.56 on Friday. The firm has a 50 day moving average price of $355.79 and a two-hundred day moving average price of $343.26. The stock has a market cap of $140.83 billion, a P/E ratio of 41.20, a price-to-earnings-growth ratio of 2.85 and a beta of 0.91. Stryker Co. has a 52-week low of $255.22 and a 52-week high of $374.63. 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 (NYSE:SYK) last posted its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. Stryker’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.54 earnings per share. As a group, equities analysts forecast that Stryker Co. will post 12 EPS for the current year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s payout ratio is presently 35.67%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Barclays lifted their target price on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Truist Financial upped their target price on Stryker from $345.00 to $370.00 and gave the company a “hold” rating in a research report on Monday, October 14th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Piper Sandler restated an “overweight” rating and issued a $380.00 price target on shares of Stryker in a research note on Tuesday, September 10th. Finally, Wolfe Research initiated coverage on Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $381.16.

Insider Buying and Selling at Stryker

In other news, VP M Kathryn Fink sold 2,121 shares of the business’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 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was 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 $3,219,495. 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 is available at the SEC website. Also, VP M Kathryn Fink sold 2,121 shares of the business’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 value of $784,770.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 220,068 shares of company stock valued at $71,811,372. 5.90% of the stock is currently owned by company 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.