Catalyst Financial Partners LLC Sells 29 Shares of Stryker Co. (NYSE:SYK)

Catalyst Financial Partners LLC lessened its stake in Stryker Co. (NYSE:SYK) by 2.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,373 shares of the medical technology company’s stock after selling 29 shares during the period. Catalyst Financial Partners LLC’s holdings in Stryker were worth $496,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Centennial Bank AR lifted its holdings in Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 48 shares during the period. Central Pacific Bank Trust Division bought a new stake in Stryker during the first quarter valued at approximately $39,000. HBW Advisory Services LLC purchased a new stake in Stryker during the third quarter valued at approximately $42,000. Grove Bank & Trust raised its position in Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after acquiring an additional 56 shares during the period. Finally, DT Investment Partners LLC boosted its stake in shares of Stryker by 114.3% during the 3rd quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock worth $49,000 after acquiring an additional 72 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Trading Up 1.2 %

Stryker stock opened at $363.43 on Thursday. Stryker Co. has a one year low of $264.85 and a one year high of $374.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. The stock has a market cap of $138.45 billion, a PE ratio of 41.49, a price-to-earnings-growth ratio of 2.73 and a beta of 0.91. The stock has a 50-day moving average of $359.79 and a two-hundred day moving average of $343.98.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.78 by $0.09. The business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.46 earnings per share. On average, research analysts anticipate that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

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 paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio is currently 36.53%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SYK. Truist Financial upped their price target on Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a research report on Wednesday. Barclays increased their price objective on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Royal Bank of Canada increased their price target on Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their price target on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Wells Fargo & Company increased their price objective on shares of Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and an average price target of $392.60.

Insider Buying and Selling

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s 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 approximately $949,716. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $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 SEC, which is accessible through this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker 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 sale, 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 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. Corporate insiders own 5.90% of the company’s stock.

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.