Davis R M Inc. Sells 1,471 Shares of Stryker Co. (NYSE:SYK)

Davis R M Inc. decreased its position in shares of Stryker Co. (NYSE:SYK) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 102,634 shares of the medical technology company’s stock after selling 1,471 shares during the quarter. Davis R M Inc.’s holdings in Stryker were worth $26,657,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its holdings in Stryker by 0.8% during the 1st quarter. Bank of New York Mellon Corp now owns 7,389,290 shares of the medical technology company’s stock worth $1,799,885,000 after purchasing an additional 58,099 shares during the last quarter. Morgan Stanley raised its holdings in Stryker by 7.2% during the 1st quarter. Morgan Stanley now owns 3,220,919 shares of the medical technology company’s stock worth $784,551,000 after purchasing an additional 216,709 shares during the last quarter. Fisher Asset Management LLC raised its holdings in Stryker by 4.9% during the 2nd quarter. Fisher Asset Management LLC now owns 2,839,709 shares of the medical technology company’s stock worth $737,558,000 after purchasing an additional 133,531 shares during the last quarter. WCM Investment Management LLC raised its holdings in Stryker by 26.4% during the 2nd quarter. WCM Investment Management LLC now owns 2,721,652 shares of the medical technology company’s stock worth $706,895,000 after purchasing an additional 568,957 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of Stryker by 4.9% during the 2nd quarter. Mackenzie Financial Corp now owns 2,171,150 shares of the medical technology company’s stock worth $563,913,000 after buying an additional 101,417 shares during the period. Hedge funds and other institutional investors own 72.58% of the company’s stock.

Several analysts have recently commented on the stock. Truist Securities raised their price objective on shares of Stryker from $250.00 to $275.00 and gave the stock a “hold” rating in a research report on Wednesday, July 28th. Credit Suisse Group raised their price objective on shares of Stryker from $291.00 to $311.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 28th. Robert W. Baird raised their price objective on shares of Stryker from $292.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 28th. Argus raised their price objective on shares of Stryker from $280.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, July 29th. Finally, SVB Leerink lifted their price target on shares of Stryker from $290.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, July 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $287.18.

Shares of Stryker stock opened at $275.35 on Monday. Stryker Co. has a 52-week low of $196.09 and a 52-week high of $281.16. The stock’s 50-day simple moving average is $268.51 and its 200 day simple moving average is $258.77. The stock has a market capitalization of $103.83 billion, a P/E ratio of 50.67, a P/E/G ratio of 3.08 and a beta of 0.98. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.32 and a current ratio of 2.12.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Monday, July 26th. The medical technology company reported $2.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.12 by $0.13. Stryker had a return on equity of 26.08% and a net margin of 12.82%. The business had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.14 billion. During the same period in the previous year, the business posted $0.64 EPS. The firm’s quarterly revenue was up 55.4% compared to the same quarter last year. Equities research analysts forecast that Stryker Co. will post 9.35 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 29th. Stockholders of record on Thursday, September 30th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Wednesday, September 29th. Stryker’s dividend payout ratio is presently 33.92%.

In other news, VP Robert S. Fletcher sold 1,120 shares of the company’s stock in a transaction dated Thursday, August 5th. The stock was sold at an average price of $261.10, for a total transaction of $292,432.00. Following the sale, the vice president now directly owns 4,533 shares in the company, valued at $1,183,566.30. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ronda E. Stryker sold 150,000 shares of the business’s stock in a transaction dated Friday, August 6th. The stock was sold at an average price of $262.26, for a total value of $39,339,000.00. The disclosure for this sale can be found here. Corporate insiders own 6.70% of the company’s stock.

About Stryker

Stryker Corp. engages in the provision of medical technology products and services. It operates through the following segments: Orthopaedics, MedSurg, and Neurotechnology & Spine. The Orthopaedics segment provides reconstructive and trauma implant systems. The MedSurg segment deals with surgical equipment and navigation systems, endoscopy, patient handling and reprocessed medical devices.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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