Stryker Co. (NYSE:SYK) Holdings Raised by Legal & General Group Plc

Legal & General Group Plc increased its position in shares of Stryker Co. (NYSE:SYK) by 0.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,844,394 shares of the medical technology company’s stock after purchasing an additional 2,563 shares during the quarter. Legal & General Group Plc owned 0.75% of Stryker worth $967,803,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SYK. Burkett Financial Services LLC acquired a new position in shares of Stryker in the 4th quarter valued at about $25,000. Central Pacific Bank Trust Division bought a new position in Stryker in the first quarter worth about $39,000. Accent Capital Management LLC acquired a new position in Stryker in the fourth quarter valued at approximately $60,000. Sachetta LLC raised its position 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 period. Finally, Hazlett Burt & Watson Inc. raised its position in shares of Stryker by 17.9% during the 1st 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 during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of NYSE SYK opened at $361.38 on Friday. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $374.63. The stock has a market capitalization of $137.67 billion, a price-to-earnings ratio of 41.25, a PEG ratio of 2.79 and a beta of 0.91. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. The stock’s fifty day simple moving average is $346.93 and its 200 day simple moving average is $343.01.

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

Stryker Announces Dividend

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 is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.89%. Stryker’s payout ratio is currently 36.53%.

Insider Transactions at Stryker

In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was 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 of the company’s stock, valued at approximately $1,072,790,023.68. The disclosure for this sale can be found here. Insiders sold a total of 220,068 shares of company stock valued at $71,811,372 over the last quarter. Company insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wolfe Research started coverage on Stryker in a research note on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective for the company. Evercore ISI cut their price target on Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Truist Financial reduced their price target on Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Stifel Nicolaus reduced their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $386.00 target price on shares of Stryker in a research note on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $378.58.

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.