nVerses Capital LLC Invests $975,000 in Stryker Co. (NYSE:SYK)

nVerses Capital LLC purchased a new position in shares of Stryker Co. (NYSE:SYK) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,700 shares of the medical technology company’s stock, valued at approximately $975,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Koshinski Asset Management Inc. acquired a new position in Stryker in the first quarter valued at approximately $795,000. Envestnet Portfolio Solutions Inc. raised its position in shares of Stryker by 43.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock worth $6,617,000 after purchasing an additional 5,565 shares during the period. Norden Group LLC bought a new position in shares of Stryker in the 1st quarter worth $4,027,000. International Assets Investment Management LLC purchased a new stake in Stryker in the 1st quarter valued at $21,970,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in Stryker by 38.5% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock valued at $7,084,000 after buying an additional 5,502 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SYK shares. Stifel Nicolaus decreased their target price on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Morgan Stanley increased their price target on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $386.00 price target on shares of Stryker in a research note on Wednesday, July 31st. Truist Financial raised their target price on Stryker from $345.00 to $370.00 and gave the stock a “hold” rating in a research note on Monday. Finally, UBS Group raised their target price on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $381.16.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the transaction, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the transaction, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 220,068 shares of company stock worth $71,811,372. 5.90% of the stock is owned by insiders.

Stryker Trading Down 0.0 %

Shares of SYK traded down $0.11 during mid-day trading on Thursday, hitting $361.20. 143,222 shares of the company’s stock traded hands, compared to its average volume of 1,248,518. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. Stryker Co. has a 1 year low of $255.22 and a 1 year high of $374.63. The firm has a market capitalization of $137.60 billion, a P/E ratio of 41.25, a PEG ratio of 2.78 and a beta of 0.91. The business’s 50-day moving average price is $354.28 and its 200-day moving average price is $343.09.

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

Stryker Announces Dividend

The company 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 dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Stryker 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.