Farther Finance Advisors LLC Cuts Stake in Stryker Co. (NYSE:SYK)

Farther Finance Advisors LLC lessened its holdings in Stryker Co. (NYSE:SYK) by 5.2% during the third quarter, Holdings Channel.com reports. The firm owned 7,427 shares of the medical technology company’s stock after selling 406 shares during the quarter. Farther Finance Advisors LLC’s holdings in Stryker were worth $2,683,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SYK. Centennial Bank AR increased its holdings in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares during the period. Central Pacific Bank Trust Division bought a new position in Stryker during the 1st quarter worth approximately $39,000. HBW Advisory Services LLC purchased a new position in Stryker in the 3rd quarter worth approximately $42,000. Grove Bank & Trust lifted its position in Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after purchasing an additional 56 shares during the last quarter. Finally, DT Investment Partners LLC boosted its stake in shares of Stryker by 114.3% during the third quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock valued at $49,000 after purchasing an additional 72 shares during the period. 77.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Canaccord Genuity Group lifted their target price on shares of Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price objective (up from $380.00) on shares of Stryker in a research note on Wednesday. Royal Bank of Canada raised their target price on Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday. Wells Fargo & Company upped their price target on Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Wolfe Research began coverage on Stryker in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price objective on the stock. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $393.65.

Stryker Stock Up 3.1 %

Shares of NYSE:SYK opened at $367.15 on Friday. The company has a current ratio of 1.91, a quick ratio of 0.95 and a debt-to-equity ratio of 0.66. The stock has a fifty day simple moving average of $360.18 and a two-hundred day simple moving average of $344.31. Stryker Co. has a 12-month low of $266.93 and a 12-month high of $374.63. The stock has a market capitalization of $139.96 billion, a price-to-earnings ratio of 39.35, a PEG ratio of 2.69 and a beta of 0.91.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the previous year, the firm earned $2.46 EPS. Stryker’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, research analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Monday, September 30th. Stryker’s payout ratio is 34.30%.

Insider Activity at Stryker

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,685,213.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, 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. 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, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,685,213.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 200,068 shares of company stock valued at $65,151,372 over the last 90 days. Corporate insiders own 5.90% of the company’s stock.

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.