Stryker Co. (NYSE:SYK) Shares Sold by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC reduced its stake in shares of Stryker Co. (NYSE:SYK) by 37.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 3,934 shares of the medical technology company’s stock after selling 2,404 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in Stryker were worth $1,339,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Aspen Investment Management Inc increased its position in shares of Stryker by 0.7% during the first quarter. Aspen Investment Management Inc now owns 4,368 shares of the medical technology company’s stock worth $1,563,000 after purchasing an additional 31 shares in the last quarter. Harbor Investment Advisory LLC lifted its stake in Stryker by 0.4% in the first quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock valued at $2,499,000 after buying an additional 31 shares during the last quarter. Proficio Capital Partners LLC increased its stake in Stryker by 2.4% in the first quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock valued at $507,000 after purchasing an additional 33 shares during the period. Versant Capital Management Inc raised its holdings in shares of Stryker by 4.0% in the second quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock valued at $294,000 after buying an additional 33 shares during the last quarter. Finally, Stanley Laman Group Ltd. boosted its stake in shares of Stryker by 4.6% during the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after buying an additional 33 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker 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 completion of the sale, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the 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 transaction, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. 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 in the last quarter. 5.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on SYK. Royal Bank of Canada reaffirmed an “outperform” rating and set a $386.00 price objective on shares of Stryker in a research note on Wednesday, July 31st. Truist Financial cut their price target on Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a research note on Monday, September 16th. Needham & Company LLC increased their target price on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Morgan Stanley boosted their price target on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $378.58.

Stryker Trading Down 0.3 %

Stryker stock opened at $360.27 on Friday. The stock has a 50-day moving average price of $347.92 and a 200 day moving average price of $343.06. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $374.63. The stock has a market cap of $137.24 billion, a PE ratio of 41.13, a P/E/G ratio of 2.79 and a beta of 0.91. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51.

Stryker (NYSE:SYK) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.54 earnings per share. Equities research analysts predict that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.89%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

About Stryker

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.