Stryker Co. (NYSE:SYK) Shares Acquired by MML Investors Services LLC

MML Investors Services LLC increased its position in shares of Stryker Co. (NYSE:SYK - Free Report) by 6.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,392 shares of the medical technology company's stock after buying an additional 2,098 shares during the period. MML Investors Services LLC's holdings in Stryker were worth $12,786,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SYK. Dunhill Financial LLC grew its position in shares of Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company's stock valued at $27,000 after acquiring an additional 37 shares during the period. Main Management ETF Advisors LLC acquired a new position in Stryker in the 3rd quarter worth about $841,000. World Investment Advisors LLC boosted its position in Stryker by 3,617.7% during the third quarter. World Investment Advisors LLC now owns 133,873 shares of the medical technology company's stock worth $48,363,000 after purchasing an additional 130,272 shares in the last quarter. Zacks Investment Management grew its holdings in Stryker by 13.3% in the third quarter. Zacks Investment Management now owns 76,269 shares of the medical technology company's stock valued at $27,553,000 after purchasing an additional 8,945 shares during the period. Finally, DF Dent & Co. Inc. increased its position in shares of Stryker by 1.2% in the third quarter. DF Dent & Co. Inc. now owns 4,472 shares of the medical technology company's stock valued at $1,616,000 after buying an additional 52 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Trading Down 1.8 %

Shares of NYSE SYK traded down $6.78 during midday trading on Wednesday, reaching $375.90. 1,213,982 shares of the stock were exchanged, compared to its average volume of 1,261,801. The stock has a market capitalization of $143.30 billion, a P/E ratio of 40.40, a PEG ratio of 2.90 and a beta of 0.94. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The company has a 50 day simple moving average of $372.00 and a 200 day simple moving average of $354.36. Stryker Co. has a twelve month low of $285.79 and a twelve month high of $398.20.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.10. The company had revenue of $5.49 billion during the quarter, compared to analysts' expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.46 earnings per share. As a group, equities analysts expect that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.89%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Stryker's previous quarterly dividend of $0.80. Stryker's dividend payout ratio (DPR) is 34.30%.

Insider Transactions at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares of the company's stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction on 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 sale, the vice president now directly owns 10,042 shares of the company's stock, valued at approximately $3,685,213.16. This trade represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,781 shares of company stock worth $24,612,275. 5.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SYK shares. Piper Sandler reissued an "overweight" rating and issued a $420.00 price target (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Wolfe Research began coverage on shares of Stryker in a research report on Tuesday, September 10th. They issued an "outperform" rating and a $405.00 target price on the stock. UBS Group upped their price target on shares of Stryker from $366.00 to $370.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Morgan Stanley upgraded Stryker from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Finally, Barclays increased their target price on Stryker from $402.00 to $418.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $402.70.

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.