Capital Investment Services of America Inc. Sells 4,119 Shares of Stryker Co. (NYSE:SYK)

Capital Investment Services of America Inc. lowered its stake in shares of Stryker Co. (NYSE:SYK) by 5.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 77,582 shares of the medical technology company’s stock after selling 4,119 shares during the quarter. Stryker comprises 2.7% of Capital Investment Services of America Inc.’s portfolio, making the stock its 16th largest position. Capital Investment Services of America Inc.’s holdings in Stryker were worth $28,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Patrick M Sweeney & Associates Inc. raised its position in shares of Stryker by 1.5% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock worth $793,000 after acquiring an additional 32 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of 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 buying an additional 33 shares in the last quarter. Versant Capital Management Inc grew its position in shares of Stryker by 4.0% in the 2nd 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. Stanley Laman Group Ltd. increased its stake in shares of Stryker by 4.6% in the 2nd quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after acquiring an additional 33 shares in the last quarter. Finally, Plimoth Trust Co. LLC lifted its position in Stryker by 0.3% during the 2nd quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock valued at $3,224,000 after acquiring an additional 33 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the transaction, the director now 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Stryker news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $61,457,400.00. Following the sale, the director now 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 200,068 shares of company stock worth $65,151,372. Company insiders own 5.90% of the company’s stock.

Stryker Stock Down 0.3 %

NYSE:SYK traded down $1.12 during mid-day trading on Monday, reaching $366.03. The company’s stock had a trading volume of 128,602 shares, compared to its average volume of 1,253,614. The firm has a market capitalization of $139.54 billion, a PE ratio of 39.35, a price-to-earnings-growth ratio of 2.69 and a beta of 0.91. The stock has a fifty day moving average of $360.18 and a 200-day moving average of $344.36. The company has a quick ratio of 0.95, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker Co. has a 1 year low of $266.93 and a 1 year high of $374.63.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period in the prior year, the firm posted $2.46 earnings per share. The company’s quarterly revenue was up 11.9% on a year-over-year basis. Equities research analysts forecast that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were issued a $0.80 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.87%. Stryker’s dividend payout ratio is currently 34.30%.

Wall Street Analysts Forecast Growth

SYK has been the topic of a number of recent research reports. Robert W. Baird raised their target price on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. BTIG Research boosted their target price on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $420.00 price target (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Finally, Truist Financial increased their price objective on shares of Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $393.65.

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.