CCLA Investment Management Purchases 3,331 Shares of Stryker Co. (NYSE:SYK)

CCLA Investment Management raised its position in Stryker Co. (NYSE:SYK) by 1.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 299,901 shares of the medical technology company’s stock after acquiring an additional 3,331 shares during the period. CCLA Investment Management owned approximately 0.08% of Stryker worth $102,048,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Aspen Investment Management Inc boosted its holdings in Stryker by 0.7% in the first quarter. Aspen Investment Management Inc now owns 4,368 shares of the medical technology company’s stock worth $1,563,000 after acquiring an additional 31 shares in the last quarter. Harbor Investment Advisory LLC grew its position in Stryker by 0.4% during 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 last quarter. Proficio Capital Partners LLC increased 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 valued at $507,000 after purchasing an additional 33 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Stryker by 4.0% during the second quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock worth $294,000 after buying an additional 33 shares during the period. Finally, Stanley Laman Group Ltd. lifted its stake in shares of Stryker by 4.6% during the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after buying an additional 33 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Ronda E. Stryker sold 190,000 shares of the business’s 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 in the company, valued at $1,072,790,023.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction 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 owns 2,852 shares in the company, valued at approximately $949,716. The disclosure for this sale can be found here. In the last three months, insiders have sold 220,068 shares of company stock worth $71,811,372. Insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of research analyst reports. Piper Sandler restated an “overweight” rating and issued a $380.00 target price on shares of Stryker in a research note on Tuesday, September 10th. BTIG Research raised their price objective on Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Stifel Nicolaus dropped their target price on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Wolfe Research started coverage on shares of Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price target for the company. Finally, Barclays upped their price objective on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and an average price target of $378.58.

Stryker Stock Down 2.1 %

Shares of SYK opened at $364.00 on Wednesday. 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 firm has a market cap of $138.71 billion, a P/E ratio of 41.55, a PEG ratio of 2.87 and a beta of 0.91. The stock’s 50 day moving average is $343.60 and its two-hundred day moving average is $342.61. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $374.63.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 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 analyst estimates of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.54 EPS. Analysts predict that Stryker Co. will post 12 earnings per share for the current fiscal 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. This represents a $3.20 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio is presently 36.53%.

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.