Terra Nova Asset Management LLC Decreases Stock Holdings in Stryker Co. (NYSE:SYK)

Terra Nova Asset Management LLC lowered its position in shares of Stryker Co. (NYSE:SYK) by 2.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,312 shares of the medical technology company’s stock after selling 249 shares during the period. Stryker makes up approximately 2.2% of Terra Nova Asset Management LLC’s portfolio, making the stock its 15th largest position. Terra Nova Asset Management LLC’s holdings in Stryker were worth $3,003,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SYK. Centennial Bank AR increased its holdings in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Stryker during the 1st quarter worth approximately $39,000. HBW Advisory Services LLC acquired a new stake in shares of Stryker during the 3rd quarter worth approximately $42,000. Grove Bank & Trust increased its holdings in shares of Stryker by 84.8% during the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after buying an additional 56 shares during the last quarter. Finally, Sachetta LLC increased its holdings in shares of Stryker by 16.3% during the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after buying an additional 34 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Activity at Stryker

In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP M Kathryn Fink sold 7,347 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were 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 in the company, valued at $3,685,213.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was 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 owns 2,852 shares in the company, valued at approximately $949,716. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 220,068 shares of company stock valued at $71,811,372 over the last ninety days. Insiders own 5.50% of the company’s stock.

Stryker Stock Up 0.7 %

Shares of Stryker stock traded up $2.44 during trading on Wednesday, hitting $361.42. 86,255 shares of the stock were exchanged, compared to its average volume of 1,250,496. The stock has a market cap of $137.73 billion, a price-to-earnings ratio of 40.02, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. The firm’s 50-day moving average price is $353.45 and its 200 day moving average price is $342.96. Stryker Co. has a 12-month low of $255.22 and a 12-month high of $374.63. 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 released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.54 EPS. As a group, analysts forecast that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

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 given a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.89%. Stryker’s dividend payout ratio (DPR) is presently 35.67%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SYK shares. Truist Financial raised their price target on shares of Stryker from $345.00 to $370.00 and gave the stock a “hold” rating in a report on Monday. Wolfe Research assumed coverage on shares of Stryker in a report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price for the company. BTIG Research lifted their target price on shares of Stryker from $374.00 to $383.00 and gave the company a “buy” rating in a report on Monday. Needham & Company LLC lifted their target price on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus dropped their target price on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a report 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’s stock. According to MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $381.16.

About Stryker

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.