Well Done LLC Trims Stock Position in Stryker Co. (NYSE:SYK)

Well Done LLC lessened its position in shares of Stryker Co. (NYSE:SYK) by 0.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,729 shares of the medical technology company’s stock after selling 31 shares during the quarter. Well Done LLC’s holdings in Stryker were worth $1,708,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Stryker by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock valued at $11,258,373,000 after purchasing an additional 309,592 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Stryker by 10.4% in the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after buying an additional 813,311 shares during the period. Clearbridge Investments LLC lifted its position in Stryker by 2.9% in the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock valued at $790,554,000 after buying an additional 66,482 shares during the last quarter. TD Asset Management Inc boosted its stake in Stryker by 2.9% during the first quarter. TD Asset Management Inc now owns 1,601,380 shares of the medical technology company’s stock worth $573,086,000 after buying an additional 44,765 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of Stryker by 4.0% during the second quarter. The Manufacturers Life Insurance Company now owns 1,209,769 shares of the medical technology company’s stock valued at $411,624,000 after acquiring an additional 46,375 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Stryker

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the 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 of the company’s stock, valued at approximately $949,716. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were 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 $949,716. The trade was 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 three months. 5.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SYK. Piper Sandler restated an “overweight” rating and issued a $380.00 price objective on shares of Stryker in a report on Tuesday, September 10th. BTIG Research increased their target price on Stryker from $374.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday. Evercore ISI increased their target price on Stryker from $365.00 to $380.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Morgan Stanley increased their target price on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Finally, UBS Group increased 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $381.16.

Stryker Stock Up 1.7 %

Shares of SYK traded up $6.00 during mid-day trading on Friday, reaching $365.73. The company’s stock had a trading volume of 136,518 shares, compared to its average volume of 1,246,366. Stryker Co. has a 12-month low of $255.22 and a 12-month high of $374.63. The stock has a market cap of $139.32 billion, a PE ratio of 41.07, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The company’s 50 day moving average is $354.96 and its 200 day moving average is $343.20.

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

Stryker Dividend Announcement

The company also recently announced 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 is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.87%. 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.