Stryker Co. (NYSE:SYK) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its stake in shares of Stryker Co. (NYSE:SYK) by 2.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 120,610 shares of the medical technology company’s stock after selling 2,444 shares during the period. Truist Financial Corp’s holdings in Stryker were worth $41,037,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Koshinski Asset Management Inc. purchased a new position in Stryker in the 1st quarter valued at about $795,000. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Stryker by 43.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock worth $6,617,000 after acquiring an additional 5,565 shares during the last quarter. Norden Group LLC purchased a new stake in shares of Stryker during the first quarter worth approximately $4,027,000. International Assets Investment Management LLC acquired a new position in Stryker in the 1st quarter valued at $21,970,000. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Stryker by 38.5% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock valued at $7,084,000 after purchasing an additional 5,502 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP M Kathryn Fink sold 7,347 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was 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 of the company’s stock, valued at approximately $3,685,213.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,068 shares of company stock valued at $71,811,372. 5.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on SYK. Needham & Company LLC increased their target price on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. UBS Group increased their price objective on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a report on Tuesday. BTIG Research lifted their price objective on Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Finally, Morgan Stanley upped their target price on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $379.37.

Stryker Stock Down 0.6 %

Stryker stock opened at $355.11 on Thursday. The company has a market capitalization of $135.28 billion, a PE ratio of 40.54, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. 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 Co. has a fifty-two week low of $249.98 and a fifty-two week high of $374.63. The firm has a 50 day moving average price of $348.90 and a 200 day moving average price of $343.12.

Stryker (NYSE:SYK) last issued 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. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the previous year, the firm posted $2.54 earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. Research analysts expect that Stryker Co. will post 12 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.80 per share. The ex-dividend date is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.90%. Stryker’s dividend payout ratio is presently 36.53%.

About Stryker

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.