Stryker Co. (NYSE:SYK) Shares Sold by Schmidt P J Investment Management Inc.

Schmidt P J Investment Management Inc. lowered its stake in shares of Stryker Co. (NYSE:SYK) by 2.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,013 shares of the medical technology company’s stock after selling 575 shares during the period. Stryker accounts for approximately 1.4% of Schmidt P J Investment Management Inc.’s portfolio, making the stock its 19th biggest holding. Schmidt P J Investment Management Inc.’s holdings in Stryker were worth $7,953,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in SYK. Centennial Bank AR boosted its stake in Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in Stryker in the 1st quarter worth about $39,000. HBW Advisory Services LLC acquired a new stake in Stryker in the 3rd quarter worth about $42,000. Grove Bank & Trust boosted its stake in Stryker by 84.8% in the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after buying an additional 56 shares during the last quarter. Finally, DT Investment Partners LLC boosted its stake in Stryker by 114.3% in the 3rd quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock worth $49,000 after buying an additional 72 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Performance

Stryker stock opened at $359.90 on Friday. The stock has a market cap of $137.10 billion, a P/E ratio of 41.08, a price-to-earnings-growth ratio of 2.83 and a beta of 0.91. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The stock has a 50 day moving average of $357.99 and a 200-day moving average of $343.59. Stryker Co. has a 52 week low of $255.22 and a 52 week high of $374.63.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.79 by $0.02. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.54 EPS. On average, analysts expect that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is currently 36.53%.

Analysts Set New Price Targets

A number of analysts have issued reports on SYK shares. Wolfe Research started coverage on Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price target on the stock. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Morgan Stanley lifted their price objective on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Stifel Nicolaus reduced their price objective on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $380.00 price objective on shares of Stryker in a research note on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $381.16.

Insider Activity

In other news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, VP M Kathryn Fink sold 2,121 shares of the firm’s 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 transaction, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. This trade 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 this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’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 transaction, the chief financial officer now owns 2,852 shares in the company, valued at $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 currently owned by insiders.

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.