Stryker Co. (NYSE:SYK) Sees Large Decline in Short Interest

by · The Markets Daily

Stryker Co. (NYSE:SYK – Get Free Report) saw a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 4,300,000 shares, a decrease of 15.5% from the September 30th total of 5,090,000 shares. Currently, 1.2% of the shares of the stock are sold short. Based on an average trading volume of 1,180,000 shares, the short-interest ratio is currently 3.6 days.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the business’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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at $3,715,540. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 220,068 shares of company stock worth $71,811,372. Insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Geneva Partners LLC purchased a new position in Stryker during the 3rd quarter worth $1,435,000. Sentry Investment Management LLC grew its holdings in shares of Stryker by 9.1% during the third quarter. Sentry Investment Management LLC now owns 1,605 shares of the medical technology company’s stock worth $580,000 after buying an additional 134 shares during the last quarter. Greenwood Capital Associates LLC increased its position in Stryker by 2.3% in the 3rd quarter. Greenwood Capital Associates LLC now owns 22,964 shares of the medical technology company’s stock valued at $8,296,000 after acquiring an additional 519 shares during the period. FSM Wealth Advisors LLC lifted its position in Stryker by 2.8% during the 3rd quarter. FSM Wealth Advisors LLC now owns 1,888 shares of the medical technology company’s stock worth $682,000 after acquiring an additional 52 shares during the period. Finally, Moloney Securities Asset Management LLC purchased a new position in shares of Stryker in the 3rd quarter valued at approximately $1,133,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Up 1.2 %

Shares of NYSE SYK traded up $4.47 during midday trading on Wednesday, hitting $363.48. 2,242,755 shares of the company’s stock were exchanged, compared to its average volume of 1,255,561. The firm’s fifty day simple moving average is $359.79 and its 200-day simple moving average is $343.98. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The company has a market cap of $138.47 billion, a PE ratio of 41.49, a P/E/G ratio of 2.73 and a beta of 0.91. Stryker has a twelve month low of $264.85 and a twelve month high of $374.63.

Stryker (NYSE:SYK – Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share 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 company’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.46 EPS. Research analysts predict that Stryker will post 12 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is currently 36.53%.

Analysts Set New Price Targets

SYK has been the topic of a number of research analyst reports. Barclays boosted their price target on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Truist Financial lifted their price objective on Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research note on Wednesday. Robert W. Baird increased their target price on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday. Wells Fargo & Company lifted their target price on Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Needham & Company LLC increased their price target on shares of Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $392.60.

View Our Latest Research Report on SYK

About Stryker

(Get 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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