Everence Capital Management Inc. Buys 2,550 Shares of Stryker Co. (NYSE:SYK)

Everence Capital Management Inc. raised its position in Stryker Co. (NYSE:SYK) by 47.8% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 7,880 shares of the medical technology company’s stock after buying an additional 2,550 shares during the period. Everence Capital Management Inc.’s holdings in Stryker were worth $2,847,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in shares of Stryker by 10.4% in the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after purchasing an additional 813,311 shares during the last quarter. 1832 Asset Management L.P. boosted 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 acquiring an additional 522,817 shares during the last quarter. American Century Companies Inc. grew its holdings in Stryker by 287.6% during the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock worth $172,033,000 after acquiring an additional 375,166 shares during the period. Vanguard Group Inc. raised its position in shares of Stryker by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock valued at $11,258,373,000 after acquiring an additional 309,592 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Stryker by 258.7% in the 1st quarter. SG Americas Securities LLC now owns 329,020 shares of the medical technology company’s stock worth $117,746,000 after purchasing an additional 237,298 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SYK shares. Morgan Stanley increased their target price on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Barclays boosted their price target on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. BTIG Research upped their target price on Stryker from $374.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Piper Sandler reaffirmed an “overweight” rating and set a $380.00 price target on shares of Stryker in a research report on Tuesday, September 10th. Finally, UBS Group raised their target price on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $381.16.

Insiders Place Their Bets

In other news, insider Viju Menon sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP M Kathryn Fink sold 7,347 shares of the business’s stock in a transaction dated 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 transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,068 shares of company stock worth $71,811,372 over the last ninety days. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Stryker stock traded down $0.25 during midday trading on Monday, hitting $369.31. The company’s stock had a trading volume of 373,837 shares, compared to its average volume of 1,249,121. The company has a 50-day moving average price of $355.79 and a two-hundred day moving average price of $343.20. Stryker Co. has a 1-year low of $255.22 and a 1-year high of $374.63. The company has a market cap of $140.69 billion, a price-to-earnings ratio of 42.19, a PEG ratio of 2.85 and a beta of 0.91. 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 (NYSE:SYK) last issued its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the previous year, the company posted $2.54 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, sell-side analysts predict that Stryker Co. will post 12 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend 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.