PFG Investments LLC Sells 191 Shares of Stryker Co. (NYSE:SYK)

26 Oct 2024, 13:32 by Doug Wharley · The Cerbat Gem

PFG Investments LLC lowered its stake in shares of Stryker Co. (NYSE:SYK – Free Report) by 2.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,610 shares of the medical technology company’s stock after selling 191 shares during the period. PFG Investments LLC’s holdings in Stryker were worth $2,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of SYK. Centennial Bank AR increased its holdings in Stryker by 106.7% in the 2nd 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 last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Stryker in the first quarter worth about $39,000. HBW Advisory Services LLC bought a new stake in shares of Stryker in the third quarter worth about $42,000. Grove Bank & Trust lifted its position in shares of 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 buying an additional 56 shares in the last quarter. Finally, DT Investment Partners LLC grew its holdings in Stryker by 114.3% during the 3rd quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock valued at $49,000 after buying an additional 72 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SYK. BTIG Research upped their price objective on Stryker from $374.00 to $383.00 and gave the stock a “buy” rating in a 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 price objective for the company. UBS Group boosted their target price on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Needham & Company LLC increased their price target on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Evercore ISI boosted their price objective on Stryker from $365.00 to $380.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $381.16.

Get Our Latest Stock Analysis on SYK

Stryker Trading Down 2.0 %

Shares of NYSE SYK traded down $7.08 during mid-day trading on Friday, reaching $352.82. The company had a trading volume of 1,244,464 shares, compared to its average volume of 1,247,738. The stock has a market cap of $134.41 billion, a price-to-earnings ratio of 40.28, a price-to-earnings-growth ratio of 2.83 and a beta of 0.91. Stryker Co. has a 52 week low of $255.22 and a 52 week high of $374.63. The business’s 50-day moving average is $358.80 and its 200-day moving average is $343.72. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51.

Stryker (NYSE:SYK – Get Free Report) last issued its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates 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 company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company posted $2.54 earnings per share. Equities analysts expect that Stryker Co. will post 12 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.91%. Stryker’s dividend payout ratio is currently 36.53%.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction dated 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction 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 completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Viju Menon sold 600 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 220,068 shares of company stock worth $71,811,372 over the last three months. 5.90% of the stock is owned by corporate insiders.

Stryker Profile

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