Grimes & Company Inc. Buys 33 Shares of Stryker Co. (NYSE:SYK)

Grimes & Company Inc. raised its stake in Stryker Co. (NYSE:SYK) by 0.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,239 shares of the medical technology company’s stock after purchasing an additional 33 shares during the period. Grimes & Company Inc.’s holdings in Stryker were worth $2,977,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SYK. International Assets Investment Management LLC raised its stake in Stryker by 66,967.5% during the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after buying an additional 852,496 shares during the period. JPMorgan Chase & Co. raised its position in shares of Stryker by 10.4% during the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after purchasing an additional 813,311 shares during the period. 1832 Asset Management L.P. lifted its holdings in shares of Stryker by 146.9% in the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock worth $314,449,000 after purchasing an additional 522,817 shares in the last quarter. American Century Companies Inc. increased its stake in Stryker by 287.6% during the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock valued at $172,033,000 after purchasing an additional 375,166 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Stryker by 1.0% in the first quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock valued at $11,258,373,000 after buying an additional 309,592 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Activity at Stryker

In other 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 value of $2,696,202.06. Following the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. 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 accessible through this link. In other news, insider Viju Menon sold 600 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction that occurred 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 220,068 shares of company stock valued at $71,811,372 in the last 90 days. Corporate insiders own 5.90% of the company’s stock.

Stryker Trading Up 0.7 %

Shares of NYSE SYK traded up $2.61 during midday trading on Thursday, hitting $365.85. 42,028 shares of the company traded hands, compared to its average volume of 1,244,427. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. Stryker Co. has a 12-month low of $255.22 and a 12-month high of $374.63. The stock has a 50-day moving average price of $357.99 and a 200 day moving average price of $343.59. The firm has a market cap of $139.37 billion, a P/E ratio of 41.72, a P/E/G ratio of 2.83 and a beta of 0.91.

Stryker (NYSE:SYK) last announced its 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 return on equity of 22.89% and a net margin of 16.12%. The firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the prior year, the company earned $2.54 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. As a group, analysts expect that Stryker Co. will post 12 earnings per share for the current year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.80 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.87%. Stryker’s payout ratio is currently 36.53%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Wolfe Research initiated coverage on Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price on the stock. UBS Group raised their price target on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Truist Financial boosted their price objective on Stryker from $345.00 to $370.00 and gave the company a “hold” rating in a research note on Monday, October 14th. Finally, Evercore ISI boosted their price target on shares of Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and an average target price of $381.16.

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.