Peddock Capital Advisors LLC Purchases 86 Shares of Stryker Co. (NYSE:SYK)

Peddock Capital Advisors LLC boosted its position in Stryker Co. (NYSE:SYK) by 1.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,783 shares of the medical technology company’s stock after purchasing an additional 86 shares during the quarter. Peddock Capital Advisors LLC’s holdings in Stryker were worth $1,728,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SYK. Centennial Bank AR boosted its stake in Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares during the period. Central Pacific Bank Trust Division bought a new stake in Stryker in the 1st quarter valued at $39,000. HBW Advisory Services LLC bought a new stake in Stryker in the 3rd quarter valued at $42,000. Accent Capital Management LLC bought a new stake in Stryker in the 4th quarter valued at $60,000. Finally, Sachetta LLC boosted its stake in Stryker by 16.3% in the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock valued at $80,000 after purchasing an additional 34 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wolfe Research assumed coverage on Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price for the company. Morgan Stanley upped their target price on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. BTIG Research upped their target price on Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. Finally, Truist Financial cut their target price on Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $379.37.

Insider Buying and Selling at Stryker

In other Stryker 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 value of $213,000.00. Following the sale, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Viju Menon sold 600 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares in the company, valued at $3,219,495. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 220,068 shares of company stock worth $71,811,372. Insiders own 5.90% of the company’s stock.

Stryker Price Performance

SYK traded up $0.76 on Wednesday, reaching $351.55. The stock had a trading volume of 171,850 shares, compared to its average volume of 1,262,111. 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 of $350.43 and a 200-day moving average of $342.92. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $133.92 billion, a price-to-earnings ratio of 40.05, a price-to-earnings-growth ratio of 2.71 and a beta of 0.91.

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 during the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the prior year, the firm earned $2.54 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Stryker Co. will post 12 EPS for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.91%. Stryker’s payout ratio is presently 36.53%.

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.