CX Institutional Purchases 7,962 Shares of Stryker Corporation $SYK

CX Institutional raised its position in shares of Stryker Corporation (NYSE:SYKFree Report) by 195.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,043 shares of the medical technology company’s stock after acquiring an additional 7,962 shares during the period. CX Institutional’s holdings in Stryker were worth $4,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Mid American Wealth Advisory Group Inc. bought a new position in Stryker during the second quarter valued at $26,000. Clayton Financial Group LLC purchased a new stake in shares of Stryker during the 3rd quarter valued at about $26,000. Elevation Point Wealth Partners LLC bought a new position in shares of Stryker in the 2nd quarter valued at about $28,000. Sachetta LLC grew its position in Stryker by 58.7% in the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after acquiring an additional 27 shares in the last quarter. Finally, Kilter Group LLC bought a new stake in Stryker during the second quarter worth approximately $29,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Key Stryker News

Here are the key news stories impacting Stryker this week:

Insider Activity

In other news, CFO Preston Wendell Wells sold 165 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $365.88, for a total value of $60,370.20. Following the completion of the sale, the chief financial officer owned 6,694 shares of the company’s stock, valued at approximately $2,449,200.72. This represents a 2.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO William E. Berry, Jr. sold 1,953 shares of Stryker stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $365.49, for a total transaction of $713,801.97. Following the transaction, the chief accounting officer directly owned 2,833 shares in the company, valued at approximately $1,035,433.17. The trade was a 40.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 522,118 shares of company stock worth $185,381,932. 5.90% of the stock is currently owned by corporate insiders.

Stryker Trading Up 0.4%

Shares of NYSE SYK opened at $367.74 on Thursday. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19. The firm has a market cap of $140.63 billion, a PE ratio of 48.32, a price-to-earnings-growth ratio of 2.35 and a beta of 0.89. The business has a fifty day simple moving average of $359.72 and a two-hundred day simple moving average of $375.30. The company has a quick ratio of 1.13, a current ratio of 1.85 and a debt-to-equity ratio of 0.68.

Stryker (NYSE:SYKGet Free Report) last announced its quarterly earnings results on Friday, October 31st. The medical technology company reported $3.19 EPS for the quarter, beating the consensus estimate of $3.13 by $0.06. The firm had revenue of $6.06 billion for the quarter, compared to analyst estimates of $6.04 billion. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.87 earnings per share. Analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be issued a $0.88 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. This is an increase from Stryker’s previous quarterly dividend of $0.84. Stryker’s dividend payout ratio (DPR) is presently 46.25%.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of recent research reports. Raymond James Financial upgraded Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 target price for the company in a report on Tuesday. BTIG Research restated a “buy” rating and issued a $410.00 target price on shares of Stryker in a report on Friday, November 14th. Rothschild Redb raised shares of Stryker to a “hold” rating in a research report on Thursday, September 18th. Citizens Jmp upgraded Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 target price for the company in a research report on Friday, December 19th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $435.00 price target on shares of Stryker in a research note on Friday, November 14th. Fourteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $430.40.

View Our Latest Report on Stryker

Stryker Profile

(Free Report)

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.

See Also

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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