Dakota Wealth Management Increases Stock Position in Stryker Co. (NYSE:SYK)

Dakota Wealth Management boosted its holdings in shares of Stryker Co. (NYSE:SYK) by 5.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,152 shares of the medical technology company’s stock after buying an additional 1,239 shares during the quarter. Dakota Wealth Management’s holdings in Stryker were worth $9,090,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. DT Investment Partners LLC raised its position in shares of Stryker by 114.3% in the 3rd quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock worth $49,000 after acquiring an additional 72 shares in the last quarter. Global Trust Asset Management LLC bought a new position in Stryker in the third quarter worth about $69,000. Mcdaniel Terry & Co. raised its holdings in Stryker by 1.5% in the third quarter. Mcdaniel Terry & Co. now owns 66,863 shares of the medical technology company’s stock worth $24,155,000 after purchasing an additional 978 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Stryker by 15.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 10,304 shares of the medical technology company’s stock valued at $3,722,000 after buying an additional 1,392 shares in the last quarter. Finally, IFM Investors Pty Ltd grew its position in shares of Stryker by 0.5% in the 3rd quarter. IFM Investors Pty Ltd now owns 71,686 shares of the medical technology company’s stock worth $25,897,000 after buying an additional 337 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Down 0.9 %

Stryker stock opened at $359.90 on Friday. Stryker Co. has a 52 week low of $255.22 and a 52 week high of $374.63. The firm has a market cap of $137.10 billion, a price-to-earnings ratio of 41.08, a price-to-earnings-growth ratio of 2.83 and a beta of 0.91. The business’s 50-day moving average price is $357.99 and its 200 day moving average price is $343.59. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51.

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

Stryker Dividend Announcement

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

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction 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 directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $3,219,495. This represents a 0.00 % decrease in their position. 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 in the last three months. 5.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Truist Financial increased their target price on shares of Stryker from $345.00 to $370.00 and gave the company a “hold” rating in a research report on Monday, October 14th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Morgan Stanley increased their price target on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Needham & Company LLC boosted their price target on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, UBS Group increased their price objective on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average target price of $381.16.

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.