Stryker Co. (NYSE:SYK) Shares Sold by Schmidt P J Investment Management Inc.

Schmidt P J Investment Management Inc. trimmed its holdings in Stryker Co. (NYSE:SYK) by 2.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,013 shares of the medical technology company’s stock after selling 575 shares during the quarter. Stryker comprises approximately 1.4% of Schmidt P J Investment Management Inc.’s portfolio, making the stock its 19th biggest position. Schmidt P J Investment Management Inc.’s holdings in Stryker were worth $7,953,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SYK. DGS Capital Management LLC acquired a new position in Stryker in the first quarter valued at approximately $239,000. Wealthcare Advisory Partners LLC boosted its holdings in Stryker by 41.4% in the first quarter. Wealthcare Advisory Partners LLC now owns 1,049 shares of the medical technology company’s stock valued at $375,000 after purchasing an additional 307 shares in the last quarter. Courier Capital LLC boosted its holdings in Stryker by 19.3% in the first quarter. Courier Capital LLC now owns 3,357 shares of the medical technology company’s stock valued at $1,201,000 after purchasing an additional 543 shares in the last quarter. Capital Asset Advisory Services LLC boosted its holdings in shares of Stryker by 3.3% in the first quarter. Capital Asset Advisory Services LLC now owns 1,277 shares of the medical technology company’s stock valued at $448,000 after acquiring an additional 41 shares during the period. Finally, Register Financial Advisors LLC acquired a new stake in shares of Stryker in the first quarter valued at approximately $105,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Trading Down 0.9 %

NYSE:SYK opened at $359.90 on Friday. The stock has a fifty day moving average price of $357.99 and a two-hundred day moving average price of $343.59. The stock has a market capitalization of $137.10 billion, a price-to-earnings ratio of 41.08, a PEG ratio of 2.83 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. Stryker Co. has a 1 year low of $255.22 and a 1 year high of $374.63.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter last year, the business posted $2.54 earnings per share. The business’s revenue for the quarter 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 fiscal year.

Stryker Announces Dividend

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 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 is currently 36.53%.

Analyst Ratings Changes

SYK has been the subject of several research analyst reports. Piper Sandler reissued an “overweight” rating and issued a $380.00 price objective on shares of Stryker in a report on Tuesday, September 10th. Wolfe Research initiated coverage on Stryker in a report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price objective for the company. Truist Financial increased their price objective on Stryker from $345.00 to $370.00 and gave the company a “hold” rating in a report on Monday, October 14th. Evercore ISI increased their price objective on Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and an average target price of $381.16.

Insider Activity

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s 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 transaction, the chief financial officer now owns 2,852 shares in the company, valued at $949,716. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s 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 transaction, the chief financial officer now owns 2,852 shares in the company, valued at $949,716. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $61,457,400.00. Following the sale, the director now directly owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The trade was 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 worth $71,811,372 over the last 90 days. 5.90% of the stock is currently owned by corporate insiders.

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.