Commonwealth Equity Services LLC Sells 21,331 Shares of Stryker Co. (NYSE:SYK)

Commonwealth Equity Services LLC lowered its stake in shares of Stryker Co. (NYSE:SYK) by 11.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 159,220 shares of the medical technology company’s stock after selling 21,331 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Stryker were worth $57,520,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Koshinski Asset Management Inc. acquired a new stake in shares of Stryker in the first quarter valued at approximately $795,000. Envestnet Portfolio Solutions Inc. increased its stake in shares of Stryker by 43.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock valued at $6,617,000 after buying an additional 5,565 shares during the period. Norden Group LLC bought a new stake in shares of Stryker during the first quarter worth $4,027,000. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Stryker by 38.5% during the first 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 acquiring an additional 5,502 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Stryker by 78.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock valued at $45,260,000 after acquiring an additional 58,673 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Activity at Stryker

In other news, 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 transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. This trade 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 the SEC website. In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the business’s stock in a transaction dated 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 $3,685,213.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s 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 transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. The trade was 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 valued at $71,811,372. 5.90% of the stock is owned by insiders.

Stryker Stock Performance

Shares of SYK stock opened at $369.56 on Friday. 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 52 week low of $255.22 and a 52 week high of $374.63. The company’s 50 day moving average price is $355.79 and its two-hundred day moving average price is $343.26. The company has a market capitalization of $140.83 billion, a P/E ratio of 41.20, a price-to-earnings-growth ratio of 2.85 and a beta of 0.91.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the business posted $2.54 earnings per share. On average, analysts expect that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.80 per share. 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 payout ratio is presently 35.67%.

Analyst Ratings Changes

SYK has been the subject of several recent research reports. Barclays boosted their price objective on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a 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 for the company in a research note on Wednesday, July 31st. Wolfe Research began coverage on shares of Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price objective on the stock. Piper Sandler reiterated an “overweight” rating and set a $380.00 target price on shares of Stryker in a research report on Tuesday, September 10th. Finally, Truist Financial raised their price target on Stryker from $345.00 to $370.00 and gave the stock a “hold” rating in a research report on Monday, October 14th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $381.16.

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.