Northstar Group Inc. Lowers Position in Stryker Co. (NYSE:SYK)

Northstar Group Inc. cut its holdings in Stryker Co. (NYSE:SYK) by 0.6% during the third quarter, Holdings Channel reports. The institutional investor owned 6,265 shares of the medical technology company’s stock after selling 40 shares during the quarter. Northstar Group Inc.’s holdings in Stryker were worth $2,263,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Centennial Bank AR boosted its stake in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 48 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in Stryker in the first quarter valued at approximately $39,000. HBW Advisory Services LLC purchased a new position in shares of Stryker in the 3rd quarter worth $42,000. Accent Capital Management LLC acquired a new stake in Stryker during the 4th quarter worth approximately $60,000. Finally, Sachetta LLC grew its stake in Stryker by 16.3% during the second quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after buying an additional 34 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Activity

In other news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. 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 can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the sale, the director now owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,068 shares of company stock worth $71,811,372 in the last 90 days. Company insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on SYK shares. Piper Sandler reissued an “overweight” rating and issued a $380.00 price objective on shares of Stryker in a research report on Tuesday, September 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $386.00 price objective on shares of Stryker in a research report on Wednesday, July 31st. Barclays boosted their target price 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. Stifel Nicolaus dropped their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, BTIG Research raised their target price on Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $379.37.

Stryker Price Performance

Shares of NYSE SYK traded up $0.87 during mid-day trading on Thursday, reaching $354.83. 42,682 shares of the company traded hands, compared to its average volume of 1,259,450. The firm has a market cap of $135.17 billion, a PE ratio of 40.41, a price-to-earnings-growth ratio of 2.71 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $374.63. The stock has a fifty day simple moving average of $350.96 and a 200-day simple moving average of $343.00.

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

Stryker Announces Dividend

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

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.