Stryker Co. (NYSE:SYK) Short Interest Update

Stryker Co. (NYSE:SYK) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totalling 4,300,000 shares, a decline of 15.5% from the September 30th total of 5,090,000 shares. Based on an average trading volume of 1,180,000 shares, the short-interest ratio is presently 3.6 days. Currently, 1.2% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Morgan Stanley boosted their target price on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Robert W. Baird raised their target price on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday. Piper Sandler reaffirmed an “overweight” rating and issued a $420.00 price target (up previously from $380.00) on shares of Stryker in a report on Wednesday. BTIG Research raised their price objective on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Stifel Nicolaus lowered their target price on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $392.60.

Stryker Trading Up 1.2 %

NYSE:SYK traded up $4.47 during trading hours on Wednesday, reaching $363.48. 2,242,755 shares of the company were exchanged, compared to its average volume of 1,255,561. The firm has a market cap of $138.47 billion, a price-to-earnings ratio of 41.49, a PEG ratio of 2.73 and a beta of 0.91. The stock has a 50 day simple moving average of $359.79 and a 200 day simple moving average of $343.98. Stryker has a 52-week low of $264.85 and a 52-week high of $374.63. 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 (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.09. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same period last year, the company posted $2.46 EPS. The business’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, analysts predict that Stryker will post 12 EPS for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Insider Activity

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the transaction, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the 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 in the company, valued at $949,716. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction 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 represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 220,068 shares of company stock valued at $71,811,372 over the last quarter. Corporate insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SYK. Centennial Bank AR boosted its position in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares during the period. Central Pacific Bank Trust Division purchased a new position in Stryker in the 1st quarter worth approximately $39,000. HBW Advisory Services LLC acquired a new stake in Stryker in the third quarter valued at approximately $42,000. Grove Bank & Trust grew its position in Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after acquiring an additional 56 shares in the last quarter. Finally, DT Investment Partners LLC raised its stake in shares of Stryker by 114.3% during the third quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock valued at $49,000 after purchasing an additional 72 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

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.