Victory Capital Management Inc. Sells 4,683 Shares of Stryker Co. (NYSE:SYK)

Victory Capital Management Inc. trimmed its position in Stryker Co. (NYSE:SYKGet Rating) by 3.2% during the third quarter, HoldingsChannel.com reports. The fund owned 142,962 shares of the medical technology company’s stock after selling 4,683 shares during the quarter. Victory Capital Management Inc.’s holdings in Stryker were worth $28,956,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. bought a new position in Stryker in the third quarter valued at approximately $41,000. Total Clarity Wealth Management Inc. bought a new position in Stryker in the second quarter valued at approximately $44,000. Webster Bank N. A. increased its stake in Stryker by 123.2% in the third quarter. Webster Bank N. A. now owns 250 shares of the medical technology company’s stock valued at $51,000 after acquiring an additional 138 shares during the last quarter. Charter Oak Capital Management LLC bought a new position in Stryker in the second quarter valued at approximately $50,000. Finally, Western Pacific Wealth Management LP increased its stake in Stryker by 3,862.5% in the third quarter. Western Pacific Wealth Management LP now owns 317 shares of the medical technology company’s stock valued at $64,000 after acquiring an additional 309 shares during the last quarter. 77.10% of the stock is owned by institutional investors.

Stryker Price Performance

SYK stock opened at $256.22 on Monday. The firm has a market cap of $96.96 billion, a price-to-earnings ratio of 39.85, a PEG ratio of 2.86 and a beta of 0.94. The company has a quick ratio of 1.19, a current ratio of 2.04 and a debt-to-equity ratio of 0.77. Stryker Co. has a 12-month low of $188.84 and a 12-month high of $279.28. The company’s fifty day simple moving average is $242.41 and its 200 day simple moving average is $222.93.

Stryker (NYSE:SYKGet Rating) last released its earnings results on Monday, October 31st. The medical technology company reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($0.12). The firm had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.46 billion. Stryker had a net margin of 13.69% and a return on equity of 22.27%. Stryker’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.20 EPS. On average, analysts expect that Stryker Co. will post 9.17 earnings per share for the current year.

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Friday, December 30th will be paid a $0.75 dividend. This is an increase from Stryker’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a yield of 1.17%. The ex-dividend date is Thursday, December 29th. Stryker’s payout ratio is 46.66%.

Analyst Ratings Changes

A number of brokerages have weighed in on SYK. Royal Bank of Canada upgraded shares of Stryker from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $240.00 to $284.00 in a research report on Monday, January 9th. Wells Fargo & Company raised their target price on shares of Stryker from $248.00 to $281.00 and gave the company an “overweight” rating in a research report on Monday, December 12th. Cowen raised their target price on shares of Stryker from $233.00 to $283.00 in a research report on Wednesday, December 14th. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Friday, November 4th. Finally, Truist Financial raised their target price on shares of Stryker from $230.00 to $252.00 and gave the company a “hold” rating in a research report on Tuesday, December 20th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $260.68.

Insider Buying and Selling at Stryker

In other Stryker news, Director Srikant M. Datar sold 600 shares of Stryker stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $216.71, for a total value of $130,026.00. Following the completion of the sale, the director now directly owns 5,161 shares of the company’s stock, valued at $1,118,440.31. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Stryker news, Director Srikant M. Datar sold 600 shares of Stryker stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $216.71, for a total value of $130,026.00. Following the completion of the sale, the director now directly owns 5,161 shares of the company’s stock, valued at $1,118,440.31. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Kevin Lobo sold 67,232 shares of Stryker stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $239.68, for a total transaction of $16,114,165.76. Following the completion of the sale, the chief executive officer now directly owns 80,770 shares of the company’s stock, valued at $19,358,953.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,079 shares of company stock valued at $19,354,832. Corporate insiders own 6.50% of the company’s stock.

About Stryker

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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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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