DT Investment Partners LLC Buys 72 Shares of Stryker Co. (NYSE:SYK)

DT Investment Partners LLC grew its stake in shares of Stryker Co. (NYSE:SYK) by 114.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 135 shares of the medical technology company’s stock after acquiring an additional 72 shares during the quarter. DT Investment Partners LLC’s holdings in Stryker were worth $49,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Global Trust Asset Management LLC bought a new stake in Stryker during the third quarter worth about $69,000. Mcdaniel Terry & Co. boosted its position in shares of Stryker by 1.5% during the 3rd quarter. Mcdaniel Terry & Co. now owns 66,863 shares of the medical technology company’s stock worth $24,155,000 after acquiring an additional 978 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Stryker by 15.6% in the third quarter. Assenagon Asset Management S.A. now owns 10,304 shares of the medical technology company’s stock valued at $3,722,000 after acquiring an additional 1,392 shares during the last quarter. IFM Investors Pty Ltd raised its position in Stryker by 0.5% during the third quarter. IFM Investors Pty Ltd now owns 71,686 shares of the medical technology company’s stock valued at $25,897,000 after purchasing an additional 337 shares in the last quarter. Finally, Bogart Wealth LLC lifted its stake in Stryker by 1.5% during the third quarter. Bogart Wealth LLC now owns 11,260 shares of the medical technology company’s stock worth $4,068,000 after purchasing an additional 169 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction dated 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 of the company’s stock, valued at $3,685,213.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Viju Menon sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 220,068 shares of company stock worth $71,811,372. Corporate insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

SYK has been the subject of several recent analyst reports. UBS Group upped their price objective on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Stifel Nicolaus reduced their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. BTIG Research increased their price objective on shares of Stryker from $374.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Piper Sandler reaffirmed an “overweight” rating and set a $380.00 target price on shares of Stryker in a research note on Tuesday, September 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $386.00 price target on shares of Stryker in a research note on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $381.16.

Stryker Stock Down 2.0 %

Shares of NYSE SYK opened at $352.82 on Friday. Stryker Co. has a 52-week low of $255.22 and a 52-week high of $374.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. The company’s 50 day moving average price is $358.50 and its 200-day moving average price is $343.70. The company has a market capitalization of $134.41 billion, a P/E ratio of 40.28, a price-to-earnings-growth ratio of 2.83 and a beta of 0.91.

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

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.91%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Stryker Company Profile

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.