ZWJ Investment Counsel Inc. Sells 34 Shares of Stryker Co. (NYSE:SYK)

by · The Markets Daily

ZWJ Investment Counsel Inc. decreased its holdings in Stryker Co. (NYSE:SYK – Free Report) by 3.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 875 shares of the medical technology company’s stock after selling 34 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in Stryker were worth $316,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Stryker by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock worth $11,258,373,000 after buying an additional 309,592 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Stryker by 10.4% in the 1st 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 last quarter. 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 last quarter. TD Asset Management Inc raised its position in shares of Stryker by 2.9% in the first quarter. TD Asset Management Inc now owns 1,601,380 shares of the medical technology company’s stock worth $573,086,000 after acquiring an additional 44,765 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Stryker by 4.0% during the second quarter. The Manufacturers Life Insurance Company now owns 1,209,769 shares of the medical technology company’s stock valued at $411,624,000 after purchasing an additional 46,375 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Barclays upped their price objective on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Piper Sandler restated an “overweight” rating and set a $380.00 price objective on shares of Stryker in a research report on Tuesday, September 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $386.00 price objective on shares of Stryker in a research note on Wednesday, July 31st. Needham & Company LLC lifted their price objective on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Wolfe Research assumed coverage on Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $381.16.

Get Our Latest Stock Report on Stryker

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of Stryker 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 sale, the director now owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,068 shares of company stock worth $71,811,372. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Down 0.4 %

Shares of SYK stock opened at $359.76 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. Stryker Co. has a 12 month low of $255.22 and a 12 month high of $374.63. The stock has a 50 day moving average of $354.96 and a 200-day moving average of $343.20. The firm has a market cap of $137.05 billion, a PE ratio of 41.07, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91.

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

Stryker Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 0.89%. Stryker’s dividend payout ratio is 36.53%.

Stryker 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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