NovaPoint Capital LLC Lowers Stake in Stryker Co. (NYSE:SYK)

by · The Cerbat Gem

NovaPoint Capital LLC reduced its position in shares of Stryker Co. (NYSE:SYK – Free Report) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,828 shares of the medical technology company’s stock after selling 104 shares during the period. NovaPoint Capital LLC’s holdings in Stryker were worth $1,022,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SYK. Vanguard Group Inc. boosted its stake in shares of Stryker by 1.0% in the first quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock valued at $11,258,373,000 after purchasing an additional 309,592 shares during the period. JPMorgan Chase & Co. increased its position in shares of Stryker by 10.4% during the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after acquiring an additional 813,311 shares during the period. Clearbridge Investments LLC boosted its holdings in Stryker by 2.9% in the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock valued at $790,554,000 after purchasing an additional 66,482 shares during the period. TD Asset Management Inc grew its stake in Stryker by 2.9% during the 1st quarter. TD Asset Management Inc now owns 1,601,380 shares of the medical technology company’s stock worth $573,086,000 after purchasing an additional 44,765 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Stryker by 4.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,209,769 shares of the medical technology company’s stock worth $411,624,000 after purchasing an additional 46,375 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SYK shares. Morgan Stanley upped their target price on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Piper Sandler reaffirmed an “overweight” rating and set a $380.00 price objective on shares of Stryker in a research report on Tuesday, September 10th. Evercore ISI increased their target price on Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. BTIG Research lifted their price target on Stryker from $374.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $381.16.

Read Our Latest Stock Report on SYK

Insider Buying and Selling

In other news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the transaction, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction 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 sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 220,068 shares of company stock worth $71,811,372. 5.90% of the stock is owned by company insiders.

Stryker Stock Up 2.7 %

Stryker stock opened at $369.56 on Friday. The stock’s 50 day moving average price is $355.79 and its 200 day moving average price is $343.31. Stryker Co. has a 1-year low of $255.22 and a 1-year high of $374.63. The company has a market cap of $140.78 billion, a PE ratio of 42.19, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95.

Stryker (NYSE:SYK – Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter last year, the firm posted $2.54 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. On average, sell-side analysts predict that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm 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 dividend yield of 0.87%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio is presently 36.53%.

Stryker Company Profile

(Free Report)

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.

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