Stryker Co. (NYSE:SYK) Shares Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC grew its position in Stryker Co. (NYSE:SYK) by 14.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 65,579 shares of the medical technology company’s stock after purchasing an additional 8,070 shares during the period. Sanctuary Advisors LLC’s holdings in Stryker were worth $25,238,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Dunhill Financial LLC lifted its holdings in Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 37 shares during the period. Centennial Bank AR increased its holdings in Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after buying an additional 48 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Stryker in the third quarter worth about $36,000. Hara Capital LLC purchased a new position in shares of Stryker in the 3rd quarter valued at about $42,000. Finally, HBW Advisory Services LLC acquired a new position in Stryker in the 3rd quarter worth about $42,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Truist Financial increased their target price on Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Needham & Company LLC lifted their target price on shares of Stryker from $409.00 to $442.00 and gave the company a “buy” rating in a research report on Thursday. Robert W. Baird raised their price target on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Barclays boosted their price objective on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, Wolfe Research assumed coverage on Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and an average target price of $404.35.

Insiders Place Their Bets

In related news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at $3,685,213.16. The trade was a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Stryker Trading Down 0.3 %

Shares of Stryker stock opened at $375.01 on Friday. Stryker Co. has a fifty-two week low of $285.79 and a fifty-two week high of $398.20. The stock has a 50 day moving average of $372.88 and a 200 day moving average of $354.65. The firm has a market capitalization of $142.96 billion, a price-to-earnings ratio of 40.19, a PEG ratio of 2.84 and a beta of 0.94. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The company had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. Stryker’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the business posted $2.46 EPS. As a group, research analysts predict that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a yield of 0.90%. Stryker’s dividend payout ratio is 34.30%.

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.