New Century Financial Group LLC Boosts Stock Holdings in Stryker Co. (NYSE:SYK)

New Century Financial Group LLC grew its position in Stryker Co. (NYSE:SYK) by 7.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 858 shares of the medical technology company’s stock after purchasing an additional 60 shares during the period. New Century Financial Group LLC’s holdings in Stryker were worth $310,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Verde Capital Management bought a new position in shares of Stryker during the 3rd quarter worth approximately $397,000. AA Financial Advisors LLC increased its position in shares of Stryker by 1.5% during the third quarter. AA Financial Advisors LLC now owns 3,501 shares of the medical technology company’s stock valued at $1,265,000 after acquiring an additional 53 shares during the last quarter. Chicago Capital LLC lifted its holdings in Stryker by 2.2% during the third quarter. Chicago Capital LLC now owns 189,211 shares of the medical technology company’s stock worth $68,354,000 after acquiring an additional 4,013 shares during the period. Raymond James & Associates boosted its position in Stryker by 23.5% in the third quarter. Raymond James & Associates now owns 724,533 shares of the medical technology company’s stock worth $261,745,000 after purchasing an additional 137,916 shares during the last quarter. Finally, First Citizens Bank & Trust Co. grew its stake in Stryker by 0.8% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 23,012 shares of the medical technology company’s stock valued at $8,313,000 after purchasing an additional 187 shares during the period. 77.09% of the stock is owned by institutional investors.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was 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 in the company, valued at $1,072,790,023.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction 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 $949,716. This represents a 0.00 % decrease in their ownership of the stock. 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. Company insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SYK shares. BTIG Research boosted their price target on shares of Stryker from $374.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $386.00 target price on shares of Stryker in a research note on Wednesday, July 31st. Needham & Company LLC raised their price target on shares of Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Wolfe Research initiated coverage on Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price objective on the stock. Finally, Piper Sandler reissued an “overweight” rating and set a $380.00 price objective on shares of Stryker in a report on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $381.16.

Stryker Stock Up 2.7 %

SYK stock opened at $369.56 on Monday. The stock has a 50-day simple moving average of $355.79 and a two-hundred day simple moving average of $343.20. Stryker Co. has a twelve month low of $255.22 and a twelve month high of $374.63. The firm has a market capitalization of $140.78 billion, a PE ratio of 42.19, a PEG ratio of 2.85 and a beta of 0.91. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating 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 analyst estimates of $5.40 billion. During the same period last year, the business earned $2.54 earnings per share. Stryker’s revenue was up 8.5% compared to the same quarter last year. On average, equities analysts predict that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors 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 0.87%. 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.