Stryker Co. (NYSE:SYK) Shares Sold by Anchor Investment Management LLC

Anchor Investment Management LLC lowered its position in shares of Stryker Co. (NYSE:SYK) by 0.8% in the second quarter, HoldingsChannel.com reports. The firm owned 9,958 shares of the medical technology company’s stock after selling 82 shares during the quarter. Anchor Investment Management LLC’s holdings in Stryker were worth $3,388,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Centennial Bank AR increased its holdings in shares of Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 48 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in Stryker in the first quarter valued at $39,000. Accent Capital Management LLC acquired a new position in Stryker in the fourth quarter valued at $60,000. Sachetta LLC grew its holdings in shares of Stryker by 16.3% during the second quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after purchasing an additional 34 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. increased its position in shares of Stryker by 17.9% during the first quarter. Hazlett Burt & Watson Inc. now owns 264 shares of the medical technology company’s stock worth $94,000 after purchasing an additional 40 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Buying and Selling

In other Stryker news, insider Viju Menon sold 600 shares of the business’s stock in a transaction on 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 $3,219,495. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Viju Menon sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. The disclosure for this sale can be found here. Insiders have sold a total of 220,068 shares of company stock worth $71,811,372 in the last quarter. Company insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SYK shares. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday. Royal Bank of Canada restated an “outperform” rating and set a $386.00 target price on shares of Stryker in a research report on Wednesday, July 31st. Piper Sandler reiterated an “overweight” rating and issued a $380.00 price target on shares of Stryker in a research report on Tuesday, September 10th. Stifel Nicolaus lowered their price objective 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. Finally, Evercore ISI upped their target price on shares of Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and a consensus price target of $379.37.

Stryker Trading Down 0.6 %

Shares of SYK stock opened at $355.11 on Thursday. The business’s fifty day moving average price is $348.90 and its 200 day moving average price is $343.12. The firm has a market capitalization of $135.28 billion, a PE ratio of 40.54, a P/E/G ratio of 2.78 and a beta of 0.91. 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 Co. has a 1-year low of $249.98 and a 1-year high of $374.63.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The business had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the prior year, the company posted $2.54 EPS. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, sell-side analysts forecast that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is 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.