Stryker Co. (NYSE:SYK) Position Lessened by Resonant Capital Advisors LLC

by · The Markets Daily

Resonant Capital Advisors LLC decreased its stake in Stryker Co. (NYSE:SYK – Free Report) by 0.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 9,247 shares of the medical technology company’s stock after selling 79 shares during the period. Resonant Capital Advisors LLC’s holdings in Stryker were worth $3,348,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Verde Capital Management bought a new stake in shares of Stryker in the 3rd quarter worth approximately $397,000. AA Financial Advisors LLC lifted its holdings in shares of Stryker by 1.5% in the 3rd quarter. AA Financial Advisors LLC now owns 3,501 shares of the medical technology company’s stock worth $1,265,000 after purchasing an additional 53 shares during the last quarter. Chicago Capital LLC lifted its holdings in shares of Stryker by 2.2% in the 3rd quarter. Chicago Capital LLC now owns 189,211 shares of the medical technology company’s stock worth $68,354,000 after purchasing an additional 4,013 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of Stryker by 23.5% in the 3rd quarter. Raymond James & Associates now owns 724,533 shares of the medical technology company’s stock worth $261,745,000 after purchasing an additional 137,916 shares during the last quarter. Finally, First Citizens Bank & Trust Co. lifted its holdings in shares of Stryker by 0.8% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 23,012 shares of the medical technology company’s stock worth $8,313,000 after purchasing an additional 187 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on SYK. Morgan Stanley lifted their target price 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 cut their target price on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $386.00 target price on shares of Stryker in a research note on Wednesday, July 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $380.00 target price 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $381.16.

Read Our Latest Stock Analysis on Stryker

Stryker Price Performance

SYK stock opened at $369.56 on Friday. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. Stryker Co. has a one year low of $255.22 and a one year high of $374.63. The firm has a market capitalization of $140.78 billion, a PE ratio of 42.19, a P/E/G ratio of 2.85 and a beta of 0.91. The firm has a 50-day moving average of $355.79 and a two-hundred day moving average of $343.26.

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

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio is presently 36.53%.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value 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 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. In other news, 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 completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,715,540. 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 ninety days, insiders sold 220,068 shares of company stock valued at $71,811,372. 5.90% of the stock is currently owned by corporate insiders.

About Stryker

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Co. (NYSE:SYK – Free Report).