PFG Advisors Sells 711 Shares of Stryker Co. (NYSE:SYK)

16 Oct 2024, 06:06 by Amy Steele · The Cerbat Gem

PFG Advisors lessened its holdings in Stryker Co. (NYSE:SYK – Free Report) by 5.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,514 shares of the medical technology company’s stock after selling 711 shares during the period. PFG Advisors’ holdings in Stryker were worth $4,160,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Harbor Investment Advisory LLC lifted its stake in shares of Stryker by 0.4% in the 1st quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock worth $2,499,000 after purchasing an additional 31 shares during the period. Proficio Capital Partners LLC raised its stake in Stryker by 2.4% during the 1st quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock worth $507,000 after acquiring an additional 33 shares during the period. Versant Capital Management Inc raised its stake in Stryker by 4.0% during the 2nd 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 period. Stanley Laman Group Ltd. raised its stake in Stryker by 4.6% during the 2nd quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after acquiring an additional 33 shares during the period. Finally, Plimoth Trust Co. LLC raised its stake in Stryker by 0.3% during the 2nd quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock worth $3,224,000 after acquiring an additional 33 shares during the period. Institutional investors own 77.09% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction dated 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 owns 2,852 shares in the company, valued at $949,716. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the 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 sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the sale, the director now directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,068 shares of company stock valued at $71,811,372. Company insiders own 5.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SYK shares. UBS Group raised their target price on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Evercore ISI raised their target price on shares of Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Royal Bank of Canada reissued an “outperform” rating and issued a $386.00 target price on shares of Stryker in a report on Wednesday, July 31st. BTIG Research boosted their price objective on shares of Stryker from $374.00 to $383.00 and gave the company a “buy” rating in a research report on Monday. Finally, Piper Sandler reiterated an “overweight” rating and set a $380.00 price objective on shares of Stryker in a research report on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $381.16.

Check Out Our Latest Stock Report on SYK

Stryker Stock Performance

NYSE:SYK opened at $358.98 on Wednesday. The firm has a 50 day simple moving average of $353.45 and a 200-day simple moving average of $342.96. 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 firm has a market cap of $136.80 billion, a PE ratio of 40.02, a P/E/G ratio of 2.78 and a beta of 0.91. Stryker Co. has a 1-year low of $255.22 and a 1-year high of $374.63.

Stryker (NYSE:SYK – Get Free Report) last released its quarterly earnings data 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. The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. Stryker’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.54 earnings per share. On average, equities analysts expect that Stryker Co. will post 12 EPS for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a dividend of $0.80 per share. The ex-dividend date is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.89%. Stryker’s dividend payout ratio (DPR) is 35.67%.

About Stryker

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