Compass Capital Management Inc. Sells 2,264 Shares of Stryker Co. (NYSE:SYK)

Compass Capital Management Inc. decreased its position in Stryker Co. (NYSE:SYK) by 1.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 176,709 shares of the medical technology company’s stock after selling 2,264 shares during the quarter. Stryker accounts for approximately 4.0% of Compass Capital Management Inc.’s holdings, making the stock its 9th largest position. Compass Capital Management Inc.’s holdings in Stryker were worth $60,125,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in SYK. Norges Bank acquired a new position in Stryker in the fourth quarter valued at approximately $1,260,562,000. Global Assets Advisory LLC acquired a new position in Stryker during the 1st quarter valued at approximately $341,049,000. JPMorgan Chase & Co. grew its stake in Stryker by 10.4% during 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 buying an additional 813,311 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Stryker by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock worth $3,755,782,000 after buying an additional 642,178 shares during the period. Finally, 1832 Asset Management L.P. lifted its stake in Stryker by 146.9% in the first quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock valued at $314,449,000 after buying an additional 522,817 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SYK has been the subject of several recent research reports. Piper Sandler upped their price target on shares of Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Robert W. Baird raised their price target on shares of Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. The Goldman Sachs Group initiated coverage on Stryker in a research report on Thursday, May 30th. They set a “neutral” rating and a $372.00 price objective for the company. Morgan Stanley raised their target price on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Finally, Wells Fargo & Company lifted their target price on Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and a consensus price target of $373.11.

Insider Activity

In other news, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction 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 sale, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the business’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 transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at $949,716. The disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.

Stryker Price Performance

Shares of NYSE SYK traded up $2.57 during trading on Friday, hitting $353.29. The company had a trading volume of 966,116 shares, compared to its average volume of 1,456,137. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $361.41. The business’s 50-day moving average is $335.90 and its 200 day moving average is $340.99. The company has a market cap of $134.59 billion, a P/E ratio of 40.33, a PEG ratio of 2.71 and a beta of 0.89. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. Stryker’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.54 earnings per share. Equities research analysts predict that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

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 $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is currently 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.