CX Institutional Purchases 130 Shares of Stryker Co. (NYSE:SYK)

CX Institutional lifted its position in shares of Stryker Co. (NYSE:SYK) by 3.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,478 shares of the medical technology company’s stock after acquiring an additional 130 shares during the quarter. CX Institutional’s holdings in Stryker were worth $1,257,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SYK. Koshinski Asset Management Inc. bought a new position in Stryker in the 1st quarter worth about $795,000. Envestnet Portfolio Solutions Inc. boosted its stake in Stryker by 43.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock worth $6,617,000 after purchasing an additional 5,565 shares during the period. Norden Group LLC bought a new position in Stryker in the 1st quarter worth about $4,027,000. International Assets Investment Management LLC bought a new position in Stryker in the 1st quarter worth about $21,970,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its stake 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 worth $7,084,000 after purchasing an additional 5,502 shares during the period. Institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

Shares of Stryker stock opened at $361.38 on Thursday. 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 business’s 50 day simple moving average is $354.28 and its two-hundred day simple moving average is $343.09. The stock has a market capitalization of $137.67 billion, a P/E ratio of 41.25, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. Stryker Co. has a one year low of $255.22 and a one year high of $374.63.

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, topping analysts’ consensus estimates of $2.79 by $0.02. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company earned $2.54 EPS. Analysts forecast that Stryker Co. will post 12 EPS for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a $0.80 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.89%. Stryker’s dividend payout ratio is currently 36.53%.

Insider Transactions at Stryker

In other news, insider Viju Menon sold 600 shares of Stryker stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the sale, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Viju Menon sold 600 shares of Stryker stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now owns 9,069 shares in the company, valued at $3,219,495. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 220,068 shares of company stock worth $71,811,372. 5.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Stifel Nicolaus cut their target price on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $380.00 price target on shares of Stryker in a report on Tuesday, September 10th. Morgan Stanley raised their price target on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Finally, Truist Financial raised their price target on Stryker from $345.00 to $370.00 and gave the company a “hold” rating in a report on Monday. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $381.16.

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.