Hartford Investment Management Co. Lowers Holdings in Stryker Co. (NYSE:SYK)

Hartford Investment Management Co. lowered its stake in Stryker Co. (NYSE:SYK) by 0.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,592 shares of the medical technology company’s stock after selling 141 shares during the quarter. Hartford Investment Management Co.’s holdings in Stryker were worth $7,800,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Proficio Capital Partners LLC lifted its stake in Stryker by 2.4% in the 1st quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock valued at $507,000 after buying an additional 33 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Stryker by 4.0% in the second quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock worth $294,000 after acquiring an additional 33 shares during the last quarter. Stanley Laman Group Ltd. raised its stake in Stryker by 4.6% in the 2nd quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock valued at $256,000 after purchasing an additional 33 shares during the last quarter. Plimoth Trust Co. LLC lifted its holdings in Stryker by 0.3% in the 2nd quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock valued at $3,224,000 after purchasing an additional 33 shares in the last quarter. Finally, Manchester Capital Management LLC boosted its stake in Stryker by 1.4% during the 1st quarter. Manchester Capital Management LLC now owns 2,474 shares of the medical technology company’s stock worth $885,000 after purchasing an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SYK. Piper Sandler reissued an “overweight” rating and issued a $380.00 price target on shares of Stryker in a research note on Tuesday, September 10th. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Truist Financial lifted their target price on Stryker from $345.00 to $370.00 and gave the company a “hold” rating in a research report on Monday, October 14th. Needham & Company LLC raised their price target on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $386.00 price objective on shares of Stryker in a research report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $381.16.

Insider Buying and Selling at Stryker

In other news, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,715,540. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the sale, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the business’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 directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. This trade 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 sold 220,068 shares of company stock worth $71,811,372. 5.90% of the stock is owned by corporate insiders.

Stryker Price Performance

Shares of SYK traded down $1.81 during trading hours on Wednesday, reaching $364.21. The company had a trading volume of 29,360 shares, compared to its average volume of 1,244,138. The company has a market capitalization of $138.75 billion, a price-to-earnings ratio of 41.80, a PEG ratio of 2.85 and a beta of 0.91. Stryker Co. has a 12-month low of $255.22 and a 12-month high of $374.63. The firm has a 50 day simple moving average of $357.37 and a 200-day simple moving average of $343.45. 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 posted its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (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 company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same period last year, the firm earned $2.54 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. Research analysts expect that Stryker Co. will post 12 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.88%. Stryker’s dividend payout ratio is presently 36.53%.

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.