Stryker Co. (NYSE:SYK) Shares Sold by Beese Fulmer Investment Management Inc.

Beese Fulmer Investment Management Inc. lessened its holdings in shares of Stryker Co. (NYSE:SYK) by 1.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 39,736 shares of the medical technology company’s stock after selling 650 shares during the period. Stryker accounts for approximately 1.3% of Beese Fulmer Investment Management Inc.’s investment portfolio, making the stock its 24th biggest holding. Beese Fulmer Investment Management Inc.’s holdings in Stryker were worth $12,123,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. raised its position in shares of Stryker by 0.7% during the 1st quarter. BlackRock Inc. now owns 24,673,528 shares of the medical technology company’s stock worth $7,043,552,000 after acquiring an additional 178,460 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Stryker by 1.5% during the 1st quarter. Bank of New York Mellon Corp now owns 6,683,415 shares of the medical technology company’s stock worth $1,907,914,000 after buying an additional 98,909 shares during the last quarter. FMR LLC grew its stake in Stryker by 50.5% during the 1st quarter. FMR LLC now owns 6,012,525 shares of the medical technology company’s stock worth $1,716,396,000 after buying an additional 2,017,006 shares during the last quarter. Morgan Stanley grew its stake in Stryker by 21.7% during the 4th quarter. Morgan Stanley now owns 5,978,782 shares of the medical technology company’s stock worth $1,461,753,000 after buying an additional 1,066,751 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Stryker by 2.0% during the 1st quarter. Geode Capital Management LLC now owns 5,954,038 shares of the medical technology company’s stock worth $1,695,169,000 after buying an additional 117,786 shares during the last quarter. Institutional investors and hedge funds own 76.24% of the company’s stock.

Insider Transactions at Stryker

In other news, insider Viju Menon sold 5,000 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $289.00, for a total value of $1,445,000.00. Following the completion of the transaction, the insider now directly owns 6,994 shares of the company’s stock, valued at $2,021,266. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Bank of America upgraded Stryker from a “neutral” rating to a “buy” rating and raised their price target for the stock from $310.00 to $315.00 in a research note on Tuesday, September 5th. Morgan Stanley lifted their target price on Stryker from $295.00 to $300.00 and gave the company an “equal weight” rating in a research note on Monday, August 7th. Truist Financial lifted their target price on Stryker from $300.00 to $310.00 in a research note on Wednesday, July 19th. Barclays lifted their target price on Stryker from $321.00 to $335.00 and gave the company an “overweight” rating in a research note on Monday, August 7th. Finally, BTIG Research lifted their target price on Stryker from $313.00 to $331.00 in a research note on Monday, July 17th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $309.59.

Stryker Price Performance

SYK stock traded down $2.23 during midday trading on Friday, hitting $292.77. 2,134,362 shares of the stock were exchanged, compared to its average volume of 1,095,935. The stock’s 50-day moving average price is $286.90 and its 200-day moving average price is $285.73. The stock has a market cap of $111.19 billion, a price-to-earnings ratio of 41.35, a PEG ratio of 2.85 and a beta of 0.95. Stryker Co. has a fifty-two week low of $200.80 and a fifty-two week high of $306.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.84 and a current ratio of 1.54.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, August 3rd. The medical technology company reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.16. The firm had revenue of $5 billion during the quarter, compared to analysts’ expectations of $4.83 billion. Stryker had a return on equity of 22.31% and a net margin of 13.92%. Stryker’s revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.25 earnings per share. Research analysts predict that Stryker Co. will post 10.37 earnings per share for the current year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.02%. Stryker’s dividend payout ratio (DPR) is 42.37%.

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 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.