Nisa Investment Advisors LLC Decreases Stock Position in Stryker Co. (NYSE:SYK)

Nisa Investment Advisors LLC decreased its position in shares of Stryker Co. (NYSE:SYK) by 0.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 103,265 shares of the medical technology company’s stock after selling 53 shares during the period. Nisa Investment Advisors LLC’s holdings in Stryker were worth $35,219,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Burkett Financial Services LLC acquired a new stake in Stryker during the 4th quarter worth approximately $25,000. Rogco LP acquired a new stake in shares of Stryker in the fourth quarter worth $30,000. DSM Capital Partners LLC purchased a new position in shares of Stryker in the 4th quarter valued at $34,000. Central Pacific Bank Trust Division acquired a new position in shares of Stryker during the 1st quarter valued at $39,000. Finally, Private Wealth Management Group LLC purchased a new stake in Stryker during the 4th quarter worth $40,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on SYK. Robert W. Baird boosted their price objective on Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Truist Financial lowered their price objective on shares of Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Evercore ISI reduced their target price on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Roth Mkm lifted their price target on shares of Stryker from $348.00 to $405.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, The Goldman Sachs Group assumed coverage on Stryker in a research note on Thursday, May 30th. They set a “neutral” rating and a $372.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus price target of $373.11.

Insider Buying and Selling

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the sale, the chief financial officer now owns 2,852 shares of the company’s stock, valued at approximately $949,716. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction dated 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 directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at approximately $949,716. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.

Stryker Trading Up 1.1 %

Shares of SYK stock traded up $3.72 during trading hours on Monday, reaching $341.61. The company had a trading volume of 712,952 shares, compared to its average volume of 1,315,057. 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 Co. has a 1-year low of $249.98 and a 1-year high of $361.41. The company has a 50 day moving average of $335.82 and a 200 day moving average of $340.80. The firm has a market cap of $130.18 billion, a price-to-earnings ratio of 38.63, a P/E/G ratio of 2.57 and a beta of 0.89.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. Stryker’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.54 EPS. On average, equities research analysts anticipate that Stryker Co. will post 11.99 EPS for the current year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

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.