Stryker Co. (NYSE:SYK) Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC cut its position in Stryker Co. (NYSE:SYK) by 6.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,716 shares of the medical technology company’s stock after selling 623 shares during the period. Apollon Wealth Management LLC’s holdings in Stryker were worth $2,966,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in Stryker during the 4th quarter valued at approximately $1,260,562,000. Global Assets Advisory LLC acquired a new stake in Stryker during the 1st quarter worth about $341,049,000. JPMorgan Chase & Co. raised its stake in shares of Stryker by 10.4% during the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after buying an additional 813,311 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Stryker by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock worth $3,755,782,000 after buying an additional 642,178 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its holdings in Stryker by 146.9% during the first quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock worth $314,449,000 after acquiring an additional 522,817 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the sale, the director now owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

Stryker Trading Up 0.9 %

SYK opened at $341.06 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The company’s 50 day simple moving average is $335.67 and its two-hundred day simple moving average is $340.80. The firm has a market capitalization of $129.97 billion, a price-to-earnings ratio of 38.93, a price-to-earnings-growth ratio of 2.61 and a beta of 0.89. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41.

Stryker (NYSE:SYK) last announced 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 firm had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.54 earnings per share. Analysts expect that Stryker Co. will post 11.99 EPS 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 given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.94%. The ex-dividend date is Monday, September 30th. Stryker’s payout ratio is currently 36.53%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SYK. Piper Sandler raised their price objective on shares of Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Stifel Nicolaus dropped their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. The Goldman Sachs Group began coverage on Stryker in a research report on Thursday, May 30th. They set a “neutral” rating and a $372.00 target price on the stock. UBS Group upped their target price on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. Four investment 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.com, Stryker presently has an average rating of “Moderate Buy” and an average target price of $373.11.

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.