Stryker Co. (NYSE:SYK) Stock Position Lowered by TruNorth Capital Management LLC

TruNorth Capital Management LLC cut its stake in shares of Stryker Co. (NYSE:SYK) by 8.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,267 shares of the medical technology company’s stock after selling 1,873 shares during the quarter. Stryker makes up approximately 2.1% of TruNorth Capital Management LLC’s holdings, making the stock its 9th biggest holding. TruNorth Capital Management LLC’s holdings in Stryker were worth $6,960,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Wealthcare Advisory Partners LLC grew its position in shares of Stryker by 41.4% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 1,049 shares of the medical technology company’s stock worth $375,000 after buying an additional 307 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of Stryker by 74.7% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 4,915 shares of the medical technology company’s stock worth $1,759,000 after buying an additional 2,102 shares during the last quarter. SteelPeak Wealth LLC purchased a new position in shares of Stryker in the 1st quarter worth approximately $228,000. Aviance Capital Partners LLC grew its position in shares of Stryker by 30.7% in the 1st quarter. Aviance Capital Partners LLC now owns 2,680 shares of the medical technology company’s stock worth $959,000 after buying an additional 630 shares during the last quarter. Finally, Miracle Mile Advisors LLC purchased a new position in shares of Stryker in the 1st quarter worth approximately $308,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Price Performance

Shares of NYSE SYK opened at $352.82 on Monday. The firm has a market cap of $134.45 billion, a PE ratio of 39.33, a PEG ratio of 2.73 and a beta of 0.91. The firm has a fifty day moving average of $358.80 and a 200 day moving average of $343.65. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. Stryker Co. has a one year low of $255.22 and a one year high of $374.63.

Stryker (NYSE:SYK) last posted its earnings results 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. The company had revenue of $5.42 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.54 earnings per share. As a group, research analysts predict 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 issued a $0.80 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.91%. Stryker’s dividend payout ratio (DPR) is 35.67%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Truist Financial boosted their target price on shares of Stryker from $345.00 to $370.00 and gave the stock a “hold” rating in a research report on Monday, October 14th. Wolfe Research assumed coverage on shares of Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price on the stock. Morgan Stanley boosted their target price on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. BTIG Research boosted their target price on shares of Stryker from $374.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Barclays boosted their target price on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $381.16.

Insider Activity at Stryker

In related news, 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 sale, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Stryker 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 transaction, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This represents a 0.00 % decrease in their ownership of the stock. The sale 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 stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction 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 ownership of the stock. 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 90 days. 5.50% of the stock is owned by corporate insiders.

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.