Stryker Co. (NYSE:SYK) Shares Sold by Terra Nova Asset Management LLC

Terra Nova Asset Management LLC reduced its stake in shares of Stryker Co. (NYSE:SYK) by 2.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,312 shares of the medical technology company’s stock after selling 249 shares during the quarter. Stryker accounts for approximately 2.2% of Terra Nova Asset Management LLC’s portfolio, making the stock its 15th largest holding. Terra Nova Asset Management LLC’s holdings in Stryker were worth $3,003,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Centennial Bank AR grew its position in Stryker by 106.7% during the second 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 period. Central Pacific Bank Trust Division acquired a new position in Stryker during the first quarter worth about $39,000. HBW Advisory Services LLC acquired a new position in Stryker during the third quarter worth about $42,000. Grove Bank & Trust grew its position in Stryker by 84.8% during the third 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 period. Finally, Sachetta LLC grew its position in Stryker by 16.3% during the second quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after buying an additional 34 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on SYK shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $386.00 price target on shares of Stryker in a report on Wednesday, July 31st. Truist Financial upped their price target on shares of Stryker from $345.00 to $370.00 and gave the company a “hold” rating in a report on Monday. Needham & Company LLC upped their price target on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Barclays upped their price target on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus reduced their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $381.16.

Insiders Place Their Bets

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at $3,685,213.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Viju Menon sold 600 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 220,068 shares of company stock valued at $71,811,372 over the last quarter. Company insiders own 5.50% of the company’s stock.

Stryker Trading Up 0.7 %

NYSE:SYK traded up $2.44 during trading hours on Wednesday, reaching $361.42. 86,255 shares of the company were exchanged, compared to its average volume of 1,250,496. 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 $137.73 billion, a price-to-earnings ratio of 40.02, a PEG ratio of 2.78 and a beta of 0.91. Stryker Co. has a 52-week low of $255.22 and a 52-week high of $374.63. The stock has a 50 day simple moving average of $353.45 and a 200 day simple moving average of $342.96.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. The company had revenue of $5.42 billion for 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 was up 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.54 earnings per share. As a group, analysts predict that Stryker Co. will post 12 EPS for the current year.

Stryker Dividend Announcement

The business also recently declared 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 0.89%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio is currently 35.67%.

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.