Global Trust Asset Management LLC Invests $69,000 in Stryker Co. (NYSE:SYK)

Global Trust Asset Management LLC bought a new stake in Stryker Co. (NYSE:SYK) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 190 shares of the medical technology company’s stock, valued at approximately $69,000.

A number of other institutional investors have also modified their holdings of SYK. Wealthcare Advisory Partners LLC increased its holdings in shares of Stryker by 41.4% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 1,049 shares of the medical technology company’s stock valued at $375,000 after acquiring an additional 307 shares during the period. Capital Asset Advisory Services LLC increased its holdings in shares of Stryker by 3.3% in the 1st 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. Register Financial Advisors LLC acquired a new position in Stryker in the 1st quarter valued at $105,000. Kathmere Capital Management LLC purchased a new position in Stryker during the 1st quarter worth $203,000. Finally, Occidental Asset Management LLC raised its position in Stryker by 7.3% during the 1st quarter. Occidental Asset Management LLC now owns 921 shares of the medical technology company’s stock worth $330,000 after buying an additional 63 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Viju Menon sold 600 shares of the firm’s 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 sale, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Viju Menon sold 600 shares of the firm’s 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 sale, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,852 shares in the company, valued at $949,716. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 220,068 shares of company stock valued at $71,811,372 in the last ninety days. Insiders own 5.90% of the company’s stock.

Stryker Price Performance

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 stock has a market cap of $134.41 billion, a price-to-earnings ratio of 40.28, a PEG ratio of 2.83 and a beta of 0.91. 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 current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same period last year, the company earned $2.54 EPS. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, research analysts forecast 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. Shareholders of record on Monday, September 30th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.91%. Stryker’s dividend payout ratio is currently 36.53%.

Analysts Set New Price Targets

A number of equities analysts have commented on SYK shares. Truist Financial upped their price objective on shares of Stryker from $345.00 to $370.00 and gave the stock a “hold” rating in a research report on Monday, October 14th. Royal Bank of Canada restated an “outperform” rating and set a $386.00 price objective on shares of Stryker in a research report on Wednesday, July 31st. Piper Sandler restated an “overweight” rating and set a $380.00 price objective on shares of Stryker in a research report on Tuesday, September 10th. BTIG Research upped their price objective on shares of Stryker from $374.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Needham & Company LLC upped their price objective on shares of Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and an average price target 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.