Vanguard Personalized Indexing Management LLC Acquires 3,732 Shares of Stryker Co. (NYSE:SYK)

Vanguard Personalized Indexing Management LLC raised its holdings in shares of Stryker Co. (NYSE:SYK) by 11.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,086 shares of the medical technology company’s stock after purchasing an additional 3,732 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Stryker were worth $11,938,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SYK. Burkett Financial Services LLC bought a new stake in Stryker during the 4th quarter valued at $25,000. DSM Capital Partners LLC purchased a new position in Stryker during the 4th quarter worth $34,000. Central Pacific Bank Trust Division purchased a new position in Stryker during the 1st quarter worth $39,000. Accent Capital Management LLC purchased a new position in Stryker during the 4th quarter worth $60,000. Finally, Sachetta LLC purchased a new position in Stryker during the 4th quarter worth $62,000. Institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Needham & Company LLC lifted their price objective on shares of Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Piper Sandler reaffirmed an “overweight” rating and set a $380.00 price objective on shares of Stryker in a report on Tuesday, September 10th. BTIG Research lifted their price objective on shares of Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a report on Monday. Finally, Truist Financial cut their price target on shares of Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $378.58.

Stryker Price Performance

NYSE SYK opened at $364.00 on Wednesday. Stryker Co. has a one year low of $249.98 and a one year high of $374.63. The stock has a 50-day moving average of $343.60 and a 200 day moving average of $342.61. The company has a market capitalization of $138.71 billion, a price-to-earnings ratio of 41.55, a PEG ratio of 2.87 and a beta of 0.91. 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 the consensus estimate of $2.79 by $0.02. The business had revenue of $5.42 billion for 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%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period last year, the firm posted $2.54 earnings per share. On average, sell-side analysts forecast that Stryker Co. will post 12 EPS for the current year.

Stryker Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.88%. Stryker’s payout ratio is currently 36.53%.

Insider Activity

In other news, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Ronda E. Stryker sold 190,000 shares of the business’s 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 transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,685,213.16. The disclosure for this sale can be found here. Insiders have sold a total of 220,068 shares of company stock valued at $71,811,372 in the last ninety days. Corporate insiders own 5.90% of the company’s stock.

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.