Global Retirement Partners LLC Acquires 103 Shares of Stryker Co. (NYSE:SYK)

Global Retirement Partners LLC increased its stake in shares of Stryker Co. (NYSE:SYK) by 1.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,183 shares of the medical technology company’s stock after purchasing an additional 103 shares during the quarter. Global Retirement Partners LLC’s holdings in Stryker were worth $2,234,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Centennial Bank AR increased its holdings in shares of Stryker by 106.7% during the second 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 in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Stryker during the 1st quarter worth approximately $39,000. HBW Advisory Services LLC purchased a new position in Stryker during the third quarter valued at $42,000. Grove Bank & Trust boosted its holdings in Stryker by 84.8% in the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after buying an additional 56 shares during the last quarter. Finally, Sachetta LLC boosted its holdings in shares of Stryker by 16.3% during the 2nd 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. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Performance

NYSE SYK opened at $369.56 on Friday. The company has a fifty day moving average of $355.79 and a two-hundred day moving average of $343.31. The company has a market capitalization of $140.78 billion, a PE ratio of 42.19, a P/E/G ratio of 2.78 and a beta of 0.91. Stryker Co. has a 1 year low of $255.22 and a 1 year high of $374.63. 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 (NYSE:SYK) last released its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (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 quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.54 EPS. As a group, analysts expect that Stryker Co. will post 12 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.87%. Stryker’s payout ratio is 36.53%.

Insider Transactions at Stryker

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at $949,716. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Viju Menon sold 600 shares of Stryker 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 $3,219,495. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,068 shares of company stock worth $71,811,372. Company insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on SYK. Needham & Company LLC raised their target price on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Evercore ISI raised their price target on shares of Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Morgan Stanley upped their price objective on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Truist Financial increased their price objective on Stryker from $345.00 to $370.00 and gave the company a “hold” rating in a research note on Monday, October 14th. Finally, BTIG Research boosted their target price on Stryker from $374.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $381.16.

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.