Stryker Co. (NYSE:SYK) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC decreased its position in Stryker Co. (NYSE:SYK) by 6.0% in the second quarter, HoldingsChannel.com reports. The fund owned 4,709 shares of the medical technology company’s stock after selling 302 shares during the period. Intech Investment Management LLC’s holdings in Stryker were worth $1,602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Bright Financial Advisors Inc. acquired a new stake in Stryker during the 2nd quarter valued at approximately $5,811,000. Lokken Investment Group LLC raised its position in Stryker by 11.5% during the second quarter. Lokken Investment Group LLC now owns 3,441 shares of the medical technology company’s stock worth $1,171,000 after acquiring an additional 356 shares during the period. CCLA Investment Management raised its position in Stryker by 1.1% during the second quarter. CCLA Investment Management now owns 299,901 shares of the medical technology company’s stock worth $102,048,000 after acquiring an additional 3,331 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in shares of Stryker by 11.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 35,086 shares of the medical technology company’s stock worth $11,938,000 after purchasing an additional 3,732 shares in the last quarter. Finally, Tredje AP fonden raised its position in shares of Stryker by 23.8% during the 2nd quarter. Tredje AP fonden now owns 108,662 shares of the medical technology company’s stock worth $36,972,000 after purchasing an additional 20,857 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SYK. BTIG Research lifted their price target on Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Barclays boosted their price target on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Piper Sandler reissued an “overweight” rating and issued a $380.00 target price on shares of Stryker in a research note on Tuesday, September 10th. StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a research report on Monday, September 16th. Finally, Needham & Company LLC boosted their price objective on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and an average target price of $378.58.

Stryker Price Performance

SYK stock opened at $366.53 on Tuesday. The business’s 50-day moving average is $345.88 and its two-hundred day moving average is $342.87. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The firm has a market capitalization of $139.63 billion, a P/E ratio of 41.84, a P/E/G ratio of 2.87 and a beta of 0.91. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $374.63.

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

Stryker Dividend Announcement

The firm 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 is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Insider Buying and Selling at Stryker

In other news, insider Viju Menon sold 600 shares of the company’s 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 completion of the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Viju Menon sold 600 shares of the business’s stock in a transaction that occurred 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 owns 9,069 shares in the company, valued at approximately $3,219,495. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the transaction, the vice president now directly owns 10,042 shares in the company, valued at $3,685,213.16. The disclosure for this sale can be found here. Insiders have sold a total of 220,068 shares of company stock worth $71,811,372 over the last ninety days. Corporate insiders own 5.90% of the company’s stock.

Stryker Company 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.